Altra Industrial Motion Corp. Completes Acquisition of Svendborg Brakes
18/12/2013 Altra Industrial Motion
Altra Industrial Motion Corp. (Nasdaq:AIMC) has announced that it has closed on the acquisition of Svendborg Brakes A/S and S.B. Patent Holding ApS (together "Svendborg"), the leading global manufacturer of premium quality caliper brakes. The acquisition is anticipated to be accretive to Altra's earnings in 2014 in the range of $0.10 to $0.15 per diluted share, excluding any one-time or acquisition-related costs."Svendborg is a leading brand that provides Altra with new technology and access to a number of new geographic regions," said Carl Christenson, Altra's president and CEO. "This acquisition presents a number of new opportunities to help drive our top-line and bottom-line growth, and we are excited to deliver on this key part of our growth strategy."
Management provided a discussion of the proposed Svendborg acquisition on its November 7, 2013 conference call. A webcast replay and associated presentation are available on the Altra website at http://ir.altramotion.com/events.cfm.
For more information, please contact:
David Brooksbank
Altra Industrial Motion
300 Granite Street
Suite 201
Braintree
MA 02184
USA
Tel: +1 815-389-6227
Email: david.brooksbank@altramotion.com
Web: www.altramotion.com
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