QUINCY, Mass., Oct. 19, 2007 (PRIME NEWSWIRE) -- Altra Holdings, Inc. (Nasdaq:AIMC), a multi-national designer, manufacturer, and marketer of industrial power transmission and motion control products, announced that it has acquired the assets of All Power Transmission Manufacturing, Inc.
Located in Green Bay, Wisconsin, All Power is a leading manufacturer of specialty universal joints and other driveline equipment utilized in industries such as marine, pumping, off-highway, and other general industrial applications. A long time supplier to Altra, All Power generated revenues of approximately $10 million for the year ended December 31, 2006, and will be combined into Altra's Global Coupling operations.
Michael L. Hurt, Altra's Chairman and CEO, commented, "The addition of All Power strengthens Altra's position as a leading global designer, manufacturer and marketer of engineered universal joints and couplings. This acquisition, combined with our purchase of TB Woods in April this year, will accelerate the consolidation of our coupling and u-joint manufacturing into lower cost operating environments." Mr. Hurt further added, "Acquiring All Power is yet another example of Altra's disciplined approach to strategic acquisitions that strengthens the company's product portfolio, expands our global reach, and creates additional shareholder value."
About Altra:
Altra Holdings, Inc., through its wholly-owned subsidiary Altra Industrial Motion, Inc., is a leading multi-national designer, producer and marketer of a wide range of electromechanical power transmission products. The company brings together strong brands covering over 40 product lines with production facilities in nine countries. Our leading brands include Boston Gear, Warner Electric, TB Wood's, Formsprag Clutch, Wichita Clutch, Ameridrives Couplings, Kilian Manufacturing, Marland Clutch, Nuttall Gear, Stieber Clutch, Twiflex Limited, Bibby Transmissions, Matrix International, Inertia Dynamics, Huco-Dynatork, Warner Linear, and All Power Transmissions.
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This press release includes statements which are forward looking within the meaning of applicable securities laws. These statements may include or imply projections of future performance that are based upon the company's expectations or assumptions. These expectations and assumptions, as well as the company's future performance, are subject to a number of risks and uncertainties. Factors that could cause actual results to differ from projected results are discussed in the company's Registration Statement on Form S-1 filed on June 4, 2007 with the Securities and Exchange Commission. Altra Holdings, Inc. is under no obligation to, and expressly disclaims any obligation to, update or, alter its forward looking statements, whether as a result of new information, future events or otherwise. AIMC-E