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.
Each year, a panel of Control Engineering and Plant Engineering editors and industry expert judges select the System Integrator of the Year Award winners in three categories.
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.
Controller programming; Safety networks; Enclosure design; Power quality; Safety integrity levels; Increasing process efficiency
Additive manufacturing benefits; HMI and sensor tips; System integrator advice; Innovations from the industry
Robotic safety, collaboration, standards; DCS migration tips; IT/OT convergence; 2017 Control Engineering Salary and Career Survey
Featured articles highlight technologies that enable the Industrial Internet of Things, IIoT-related products and strategies to get data more easily to the user.
This article collection contains several articles on how automation and controls are helping human-machine interface (HMI) hardware and software advance.
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.

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

Infrastructure for natural gas expansion; Artificial lift methods; Disruptive technology and fugitive gas emissions
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
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me