Allied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied Motion”
or “Company”), a designer and manufacturer of precision and
specialty controlled motion products and solutions for the global
market, announced Board of Director changes, effective with today’s
Annual Meeting of Shareholders.
Linda P. Duch and Gerald J. (Bud) Laber retired from their
positions as directors and did not stand for re-election to the
Board after each of their current terms expired.
Dick Warzala, Chairman and CEO, commented,” We are most
appreciative of the strong leadership skills, broad industrial
experience, and strategic insights that Linda and Bud brought to
the Board of Allied. Their contributions will have a lasting impact
on us for years to come. We are deeply appreciative of their
service to our Board and Company and we wish them well.”
Nicole R. Tzetzo and Steven C. Finch were elected to Allied’s
Board. Both new Directors are considered independent.
Mr. Warzala added, “We are pleased to welcome Nicole and Steven
to the Allied team. Their varied skills and experience are
complementary to those of the existing Board members and we
anticipate that their insights will prove invaluable as we navigate
these unusual times in the near term and drive toward our strategic
goals in the long term. We are confident that the significant
business and legal experience offered by Nicole and Steven’s
expansive and diverse experience in manufacturing, customer
relations, and labor relations will be instrumental in guiding
Allied as we continue to execute our One Allied strategy.”
Ms. Tzetzo currently serves as Chief Operating Officer of Tzetzo
Companies LLC, a residential and commercial real estate company.
From 2016 to 2018 she served as Vice President of Finance and
Administration at the Ralph C. Wilson, Jr. Foundation where she was
responsible for all of the Foundation’s legal and financial
operations. As a Partner at Hodgson Russ, LLP and Jaeckle
Fleischmann & Mugel, LLP, she represented numerous for-profit
and not-for-profit clients on general tax and business matters. She
currently is and has been involved with numerous private and
non-profit boards.
Mr. Finch is the former Plant Manager of the General Motors
(“GM”) Tonawanda Engine Plant, one of Western New York’s largest
manufacturers. He began his 41-year career with GM in 1976 and held
several assignments with increasing responsibility at various GM
facilities outside Buffalo before becoming Tonawanda Engine Plant
Manager in 2007. Following his 2017 retirement from GM,
Mr. Finch joined the Automobile Association of America Western
and Central New York as Senior Vice President of Automotive
Services. He is currently an independent director at National Fuel
Gas Company (NYSE: NFG), where he serves on the Audit Committee and
Nominating/Corporate Governance Committee.
About Allied Motion Technologies Inc.
Allied Motion (Nasdaq: AMOT) designs, manufactures and sells
precision and specialty controlled motion products and solutions
used in a broad range of industries within our major served
markets, which include Vehicle, Medical, Aerospace & Defense,
and Industrial. Headquartered in Amherst, NY, the Company has
global operations and sells into markets across the United States,
Canada, South America, Europe and Asia-Pacific.
Allied Motion is focused on controlled motion applications and
is known worldwide for its expertise in electro-magnetic,
mechanical and electronic motion technology. Its products include
brush and brushless DC motors, brushless servo and torque motors,
coreless DC motors, integrated brushless motor-drives, gear motors,
gearing, modular digital servo drives, motion controllers,
incremental and absolute optical encoders, active (electronic) and
passive (magnetic) filters for power quality and harmonic issues,
and other controlled motion-related products.
The Company’s growth strategy is focused on being the controlled
motion solutions leader in its selected target markets by
leveraging its “technology/know how” to develop integrated
precision solutions that utilize multiple Allied Motion
technologies to “change the game” and create higher value solutions
for its customers. The Company routinely posts news and other
important information on its website at www.alliedmotion.com.
Safe Harbor Statement
The statements in this news release that relate to future plans,
events or performance are “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate, or imply future
results, performance, or achievements. Examples of forward-looking
statements include, among others, statements the Company makes
regarding expected operating results, anticipated levels of capital
expenditures, the Company’s belief that it has sufficient liquidity
to fund its business operations, and expectations with respect to
the conversion of backlog to sales. Forward-looking statements are
neither historical facts nor assurances of future performance.
Instead, they are based only on the Company’s current beliefs,
expectations and assumptions regarding the future of the Company’s
business, future plans and strategies, projections, anticipated
events and trends, the economy and other future conditions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict and many of which are outside of the
Company’s control. The Company’s actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, general economic and business conditions,
conditions affecting the industries served by the Company and its
subsidiaries, conditions affecting the Company's customers and
suppliers, competitor responses to the Company's products and
services, the overall market acceptance of such products and
services, the pace of bookings relative to shipments, the ability
to expand into new markets and geographic regions, the success in
acquiring new business, the impact of changes in income tax rates
or policies, the severity, magnitude and duration of the COVID-19
pandemic, including impacts of the pandemic and of businesses’ and
governments’ responses to the pandemic on our operations and
personnel, and on commercial activity and demand across our and our
customers’ businesses, and on global supply chains; our inability
to predict the extent to which the COVID-19 pandemic and related
impacts will continue to adversely impact our business operations,
financial performance, results of operations, financial position,
the prices of our securities and the achievement of our strategic
objectives and other factors disclosed in the Company's periodic
reports filed with the Securities and Exchange Commission. Any
forward-looking statement speaks only as of the date on which it is
made. New risks and uncertainties arise over time, and it is not
possible for us to predict the occurrence of those matters or the
manner in which they may affect us. The Company has no obligation
or intent to release publicly any revisions to any forward looking
statements, whether as a result of new information, future events,
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210505005719/en/
Investors: Deborah K. Pawlowski Kei Advisors LLC Phone:
716-843-3908 Email: dpawlowski@keiadvisors.com
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