Allied Motion Technologies acquires Precision Motor Technology

Denver, CO—Allied Motion Technologies Inc. reports that it recently bought Precision Motor Technology B.V. (Premotec, Dordrecht, Netherlands) for approximately €3.75 million, or $4.5 million, in cash and Allied Motion’s common shares.

08/02/2004


Denver, CO— Allied Motion Technologies Inc. reports that it recently bought Precision Motor Technology B.V. (Premotec, Dordrecht, Netherlands) for approximately€3.75 million, or $4.5 million, in cash and Allied Motion’s common shares. Allied Motion manufactures precision and specialty motion control products for applications in many industrial sectors worldwide.

The closing is subject to registration with the U.S. Securities and Exchange Commission of Allied Motion’s stock to be issued as part of the purchase price, as well as each party's compliance with regulatory or government approvals, and customary conditions. The closing is scheduled for 2003’s third quarter.

Premotec has been manufacturing small precision electric motors for more than 30 years. These motors use four different motor technologies: brushless dc, coreless dc, iron core dc, and permanent magnet stepper. The firm also offers synchronous motors and a range of reduction gearboxes tailored to some of these motors. Its products are manufactured at Premotec's facility in the Netherlands and at a contract manufacturing facility in Eastern Europe. Premotec's products are sold to OEM customers in Europe and the U.S. through distributors to smaller OEMs in almost all EEC member nations.

The company’s motors and other products are used in fuel injection systems, bar code readers, laser scanning equipment, HVAC actuators, dialysis equipment, industrial ink jet printers, wastewater treatment, cash dispensers, pharmaceutical dosing systems, textile manufacturing, document handling equipment, and studio television cameras. Premotec had revenues of approximately $10 million in 2003.

'We’re very excited about adding Premotec to Allied Motion,' says Richard Smith, Allied Motion's CEO. 'This acquisition furthers our growth strategy by enabling us to continue to expand our product offerings, engineering capabilities, and involvement with existing and new markets.'

Control Engineering Daily News Desk
Jim Montague, news editor
jmontague@reedbusiness.com





No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Integrated mobility; Artificial intelligence; Predictive motion control; Sensors and control system inputs; Asset Management; Cybersecurity
Big Data and IIoT value; Monitoring Big Data; Robotics safety standards and programming; Learning about PID
Motor specification guidelines; Understanding multivariable control; Improving a safety instrumented system; 2017 Engineers' Choice Award Winners
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.
Motion control advances and solutions can help with machine control, automated control on assembly lines, integration of robotics and automation, and machine safety.
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Mobility as the means to offshore innovation; Preventing another Deepwater Horizon; ROVs as subsea robots; SCADA and the radio spectrum
Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Big Data and bigger solutions; Tablet technologies; SCADA developments
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
click me