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PRESS RELEASE
Issued by:

Allied Motion expands motion system solution capabilities with acquisition of ORMEC Systems Corp.
Tuesday, 2 November 2021

Allied Motion Technologies Inc. ("Allied" or the "Company"), a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, announced that it has acquired ORMEC Systems Corp. ("ORMEC"), a developer and manufacturer of mission critical electro-mechanical automation solutions and motion control products including multi-axis controls, electronic drives and actuators for the automation and aerospace industries. The acquisition is expected to be accretive to both EPS and the gross margin profile of Allied.

"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. In addition to its products, ORMEC designs and manufactures complete electro-mechanical and software solutions for custom automation applications. We are very excited to add such a highly experienced and capable team to Allied. 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.

Founded in 1982 and headquartered in Rochester, NY, ORMEC provides automated motion control systems that integrate motion controllers, logic control, servo drives, servo motors, linear motors, actuators, HMIs and I/O. Dr. Edward Krasnicki, who has been president and CEO of ORMEC for the past 19 years, will continue to lead the company under 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. We believe our electronic, software and mechanical engineering expertise that creates high value electro-mechanical solutions, when combined with the One Allied approach to providing controlled motion system solutions to its customers, creates an excellent foundation from which to further expand our market reach."

Terms of the deal were not disclosed.

Contact details from our directory:
ORMEC Systems Corp. Servo Drives, Electronic Control Equipment, Linear Actuators, Hydraulic & Pneumatic Motors
Allied Motion North America Solution Center AC/DC Generators, Electric Motors, Servo Drives, Servoactuators, Blowers
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