Altra Holdings Inc., a leading global designer, producer and marketer of a wide range of electromechanical power transmission products, was recently ranked No. 3 in Boston Globe’s “100 Best Performing Public Companies in Massachusetts”. Altra, headquartered in Braintree, Mass., was the top industrial company on the 2012 list.
Altra Holdings’ growth in 2011 was spurred by its acquisition of Bauer Gear Motor, a leading European manufacturer of engineered gear drives. The Bauer purchase, combined with strong demand from the mining and energy markets, increased Altra’s 2011 revenues to $675 million, 30 percent over the previous year. Without including the Bauer acquisition, revenues were still up 17 percent. Net income in 2011 also rose to $38 million, a 54 percent jump over 2010.
“Last year’s revenues of $675 million was a benchmark for us,” said Carl Christenson, Altra President and CEO. “But we see the growth continuing. We expect to be a billion-dollar company within the next three or four years.”
The Globe 100 ranks Massachusetts-based public companies based on financial data from the four quarters ending December 31, 2011. To be eligible, the company must be traded publicly for the entire 2011 calendar year on the New York Stock Exchange, the Nasdaq or the American Stock Exchange and report revenue and profit for both 2010 and 2011. Companies are ranked on four criteria: return on average equity, one-year percentage change in revenue, one-year percentage change in profit margin and 2011 revenue.
Altra’s wholly-owned subsidiary, Altra Industrial Motion Inc., is an umbrella for 26 facilities in nine countries, with sales coverage in more than 70 nations and more than 3,400 employees worldwide. Altra products are marketed under a variety of well recognized brand names including Ameridrives, Ameridrives Power Transmission, Bauer Gear Motor, Boston Gear, Warner Electric, Formsprag Clutch, TB Wood’s Incorporated, Industrial Clutch, Kilian Manufacturing, Marland Clutch, Nuttall Gear, Stieber Clutch, Twiflex Ltd., Huco Dynatork, Bibby Turboflex, Matrix International, Inertia Dynamics, Delroyd Worm Gear, Warner Linear and Wichita Clutch.
“All of our business units utilize the Altra Business System,” Christenson said “It helps us closely track short- and long-term goals, with the goal of continuous improvement.”
The Altra product portfolio features more than 40 product lines including industrial clutches and brakes, enclosed gear drives, open gearing, couplings, machined-race bearings, variable frequency and belted drives, linear actuators, and other related products. Altra customers operate in a diverse group of industries, including automotive, general industrial, material handling, aggregate and mining, marine, power generation, oil and gas, transportation and turf and garden.
For more information, visit www.altramotion.com
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, those comments regarding the Company’s plan to execute aggressively its growth strategy during the remainder of 2011, its strategy to capitalize on growth opportunities in new and existing markets, increase its presence in key underpenetrated geographic regions, enter new high-growth markets and pursue strategic acquisitions, the Company’s positioning in its end markets and its opportunities for long-term growth, the Company’s expectations regarding the integration of Bauer and the Company’s expectations for Bauer’s sales and profitability, the positive demand signs in Altra’s end markets, the Company’s optimism regarding sales and profitability growth in 2012, the seasonality of the business, and the Company’s guidance for 2011 for sales, EPS, capital expenditures, depreciation and amortization, and tax rate.
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 otherwise.