Allient Announces Acquisition of SNC Manufacturing
Summary
BUFFALO, N.Y.--(BUSINESS WIRE)--Allient Inc. (formerly known as Allied Motion Technologies Inc.) (Nasdaq: ALNT) (“Allient” or the “Company”), a global designer and manufacturer of precision and specialty Motion, Controls and Power products and solutions for targeted industries and applications, today announced the acquisition of SNC Manufacturing Co., Inc. (“SNC”), a premier designer and global manufacturer of electrical transformers serving blue-chip customers in defense, industrial automation, alternative power generation and energy, including electric utilities and renewable energy. SNC’s offerings are complementary to Allient’s current power quality capabilities while also providing needed incremental, low-cost manufacturing capacity. And lastly, we are confident that through the utilization of Allient Systematic Tools we are in a good position to leverage our expertise to drive productivity and margin improvements over time. “We are honored that John Vette III, selected Allient to carry the legacy of SNC forward after owning and leading the Company for 50+ years. A family of globally responsible companies, Allient takes a One-Team approach to “Connect What Matters” and provides the most robust, reliable, and high-value products and systems by utilizing its core Motion, Controls, and Power technologies and platforms.