Altra Industrial Motion Corp. (Nasdaq: AIMC), a leading global
supplier of electromechanical power transmission and motion control
products, today announced that its Board of Directors has approved
the payment of a quarterly cash dividend of $0.17 per share for the
second quarter of 2019. This is the twenty-ninth consecutive
dividend in the Company’s history. The dividend will be paid on
July 2, 2019 to shareholders of record as of the close of business
on June 18, 2019. Future declarations of quarterly cash dividends
are subject to approval by the Board of Directors and to the
Board's continuing determination that the declaration of dividends
are in the best interests of Altra's shareholders and are in
compliance with all laws and agreements of Altra applicable to the
declaration and payment of cash dividends. Future dividends may be
adjusted at the Board’s discretion based on market conditions and
capital availability.
About Altra Industrial Motion Corp.
Altra Industrial Motion Corp. is a premier industrial, global
manufacturer and supplier of electromechanical power transmission,
motion control and automation products, including highly engineered
power transmission, motion control and engine braking systems and
components. Altra's portfolio consists of 27 well-respected brands
including Bauer Gear Motor, Boston Gear, Jacobs Vehicle Systems,
Kollmorgen, Portescap, Stromag, Svendborg Brakes, TB Wood's,
Thomson and Warner Electric. Headquartered in Braintree,
Massachusetts, Altra has approximately 9,300 employees and over 50
production facilities in 16 countries around the world.
All statements, other than statements of historical fact
included in this release are forward-looking statements, as that
term is defined in the Private Securities Litigation Reform Act of
1995. These statements include, but are not limited to, any
statement that may predict, forecast, indicate or imply future
results, performance, achievements or events. Forward-looking
statements can generally be identified by phrases such as
“believes,” “expects,” “potential,” “continues,” “may,” “should,”
“seeks,” “predicts,” “anticipates,” “intends,” “projects,”
“estimates,” “plans,” “could,” “designed,” “should be,” and other
similar expressions that denote expectations of future or
conditional events rather than statements of fact. Forward-looking
statements also may relate to strategies, plans and objectives for,
and potential results of, future operations, financial results,
financial condition, business prospects, growth strategy and
liquidity, and are based upon financial data, market assumptions
and management's current business plans and beliefs or current
estimates of future results or trends available only as of the time
the statements are made, which may become out of date or
incomplete. Forward looking statements are inherently uncertain,
and investors must recognize that events could differ significantly
from our expectations. These statements include, but may not be
limited to, the payment and maintenance of a quarterly
dividend.
In addition to the risks and uncertainties noted in this
release, there are certain factors that could cause actual results
to differ materially from those anticipated by some of the
statements made. These include: (1) competitive pressures, (2)
changes in political and economic conditions in the United States
and abroad and the cyclical nature of our markets, (3) loss of
distributors, (4) the ability to develop new products and respond
to customer needs, (5) risks associated with international
operations, including currency risks, and the effects of tariffs
and other trade actions taken by the United States and other
countries, (6) accuracy of estimated forecasts of OEM customers and
the impact of the current global economic environment on our
customers, (7) risks associated with a disruption to our supply
chain, (8) fluctuations in the costs of raw materials used in our
products, (9) product liability claims, (10) work stoppages and
other labor issues, (11) changes in employment, environmental, tax
and other laws and changes in the enforcement of laws, (12) loss of
key management and other personnel, (13) risks associated with
compliance with environmental laws, (14) the ability to
successfully execute, manage and integrate key acquisitions and
mergers, (15) failure to obtain or protect intellectual property
rights, (16) risks associated with impairment of goodwill or
intangibles assets, (17) failure of operating equipment or
information technology infrastructure, (18) risks associated with
our debt leverage, (19) risks associated with restrictions
contained in the agreements governing the Notes and the Altra
Credit Facilities, (20) risks associated with compliance with tax
laws, (21) risks associated with the global recession and
volatility and disruption in the global financial markets, (22)
risks associated with implementation of our ERP system, (23) risks
associated with the Svendborg, Stromag, and A&S acquisitions
and integration and other acquisitions, (24) risks associated with
certain minimum purchase agreements we have with suppliers, (25)
risks related to our relationships with strategic partners, (26)
our ability to offset increased commodity and labor costs with
increased prices, (27) risks associated with our exposure to
variable interest rates and foreign currency exchange rates, (28)
risks associated with interest rate swap contracts, (29) risks
associated with our exposure to renewable energy markets, (30)
risks related to regulations regarding conflict minerals, (31)
risks related to restructuring and plant consolidations, (32) risks
related to our acquisition of A&S, including (a) the
possibility that we may be unable to achieve expected synergies and
operating efficiencies in connection with the proposed transaction
within the expected time-frames or at all and to successfully
integrate A&S, (b) expected or targeted future financial and
operating performance and results, (c) operating costs, customer
loss and business disruption (including, without limitation,
difficulties in maintain relationships with employees, customers,
clients or suppliers) being greater than expected following the
transaction, (d) our ability to retain key executives and
employees, (e) slowdowns or downturns in economic conditions
generally and in the markets in which the A&S businesses
participate specifically, (f) lower than expected investments and
capital expenditures in equipment that utilizes components produced
by us or A&S, (g) lower than expected demand for our or
A&S’s repair and replacement businesses, (h) our ability to
successfully integrate the merged assets and the associated
technology and achieve operational efficiencies, (i) the
integration of A&S being more difficult, time-consuming or
costly than expected, (j) the inability to undertake certain
corporate actions that otherwise could be advantageous to comply
with certain tax covenants, (k) potential unknown liabilities and
unforeseen expenses related to the acquisition and (l) the impact
on our internal controls and compliance with the regulatory
requirements under the Sarbanes-Oxley Act of 2002, (33) the risk
associated with the UK vote to leave the European Union, (34)
Altra’s ability to achieve the efficiencies, savings and other
benefits anticipated from its cost reduction, margin improvement,
restructuring, plant consolidation and other business optimization
initiatives, (35) the risks associated with transitioning from
LIBOR to a replacement alternative reference rate, and (36) other
risks, uncertainties and other factors described in the Company's
quarterly reports on Form 10-Q and annual reports on Form 10-K and
in the Company's other filings with the U.S. Securities and
Exchange Commission (SEC) or in materials incorporated therein by
reference. Except as required by applicable law, Altra does not
intend to, update or alter its forward-looking statements, whether
as a result of new information, future events or
otherwise. AIMC-G
Contacts:Christian StorchChief Financial
OfficerAltra Industrial Motion Corp.781-917-0541Email:
christian.storch@altramotion.com
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