Altra Holdings, Inc. Announces Amendment to Payment Date for Fourth Quarter
Amount of Dividend Remains Unchanged
BRAINTREE, Mass., Dec. 4, 2012 (GLOBE NEWSWIRE) -- Altra Holdings, Inc.
(Nasdaq:AIMC), a leading global supplier of electromechanical power
transmission and motion control products, today announced that its Board of
Directors has approved a resolution to accelerate the payment of its quarterly
cash dividend of $0.06 per share for the fourth quarter of 2012.
The dividend will now be paid on December 26, 2012 to shareholders of record
as of the close of business on December 17, 2012.
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 Holdings
Altra Holdings, Inc., through its wholly-owned subsidiary Altra Industrial
Motion, Inc., is a leading multinational designer, producer and marketer of a
wide range of electromechanical power transmission and motion control
products. The company brings together strong brands covering over 40 product
lines with production facilities in nine countries and sales coverage in over
70 countries. Our leading brands include Boston Gear, Warner Electric, TB
Wood's, Formsprag Clutch, Ameridrives Couplings, Industrial Clutch, Kilian
Manufacturing, Marland Clutch, Nuttall Gear, Stieber Clutch, Wichita Clutch,
Twiflex Limited, Bibby Transmissions, Matrix International, Inertia Dynamics,
Huco Dynatork, Warner Linear, Bauer Gear Motor and PowerFlex.
The Altra Holdings, Inc. logo is available at
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 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, (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) changes in pension and retirement liabilities, (14)
risks associated with compliance with environmental laws, (15) the ability to
successfully execute, manage and integrate key acquisitions and mergers, (16)
failure to obtain or protect intellectual property rights, (17) risks
associated with impairment of goodwill or intangibles assets, (18) failure of
operating equipment or information technology infrastructure, (19) risks
associated with our debt leverage and operating covenants under our debt
instruments, (20) risks associated with restrictions contained in our Senior
Secured Notes and Convertible Notes, (21) risks associated with compliance
with tax laws, (22) risks associated with the global recession and volatility
and disruption in the global financial markets, (23) risks associated with
implementation of our new ERP system, (24) risks associated with the Bauer
acquisition and integration, (25) risks associated with the Company's planned
investment in a new manufacturing facility in China, and (26) 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
Holdings, Inc. does not intend to, update or alter its forward looking
statements, whether as a result of new information, future events or
CONTACT: Altra Holdings, Inc.
Christian Storch, Chief Financial Officer
Altra Holdings, Inc.
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