Allied Motion Expands Motion System Solution Capabilities with Acquisition of ORMEC Systems Corp.
Summary
“ ORMEC is an excellent bolt on acquisition that strengthens our technical expertise and adds a higher level of precision motion control systems and solutions to our offerings. We look forward to a bright future together as we expand the joint business potential by increasing our scale and ability to support new applications.” commented Dick Warzala, Chairman and CEO of Allied. Dr. Krasnicki stated, “ Joining with the Allied team provides additional talent and capabilities for ORMEC to enable us to scale more rapidly and compete more effectively. Headquartered in Amherst, NY, the Company has global operations and sells into markets across the United States, Canada, South America, Europe and Asia-Pacific. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Companys customers and suppliers, competitor responses to the Companys products and services, the overall market acceptance of such products and services, the pace of bookings relative to shipments, the ability to expand into new markets and geographic regions, the success in acquiring new business, the impact of changes in income tax rates or policies, the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our operations and personnel, and on commercial activity and demand across our and our customers’ businesses, and on global supply chains; our inability to predict the extent to which the COVID-19 pandemic and related impacts will continue to adversely impact our business operations, financial performance, results of operations, financial position, the prices of our securities and the achievement of our strategic objectives and other factors disclosed in the Companys periodic reports filed with the Securities and Exchange Commission.