Advanced Energy Adds to Its Portfolio of Growth Opportunities With Acquisition of AEG Power Control Modules Product Line
"Consistent with our strategy to diversify our Thin Film industrial applications and outsource manufacturing, the acquisition of AEG's Thyro Family today adds yet another product line to our strong and growing power conversion portfolio," said
Under the agreement,
Certain statements in this press release, information discussed on the earnings conference call concerning the acquisition of the Power Control Modules product line, the future business, operating and financial condition of the company and the Power Control Modules product line, including expectations regarding the markets for precision power control, entry into such markets, revenues, earnings, operating expenses, operating income, growth, profitability, restructuring costs, accretion, the EBITDA target for the earn-out, return of shareholder value, aspirational goals and expected synergies for future periods, and strategic goals and any future strategic actions, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to: the successful integration of operations of the Power Control Modules product line and associated restructuring costs; the hiring and retention of key employees; expectations surrounding the benefits of the Power Control Modules product lines; the total available market for precision power control worldwide; expectations regarding sales of the Power Control Modules product line; expectations surrounding Power Control Modules product line contract manufacturing model; as well as the effects of global macroeconomic conditions upon demand for such products. These and other risks are described in
AEG Power Solutions (AEG PS) Group is a global provider of power electronics systems and solutions for all industrial and demanding commercial power requirements offering one of the most comprehensive product and service portfolios in the area of uninterruptible power supply and power management. Thanks to its distinctive expertise bridging both AC and DC power technologies and spanning the worlds of both conventional and renewable energy, the company creates innovative solutions for next generation distributed power generation.
Danny Herron Advanced Energy Industries, Inc.970.407.6570 firstname.lastname@example.org Annie Leschin Advanced Energy Industries, Inc.970.407.6555 email@example.com