Altra Industrial Closes Acquisition Of Svendborg Brakes

(RTTNews) - Altra Industrial Motion Corp. (AIMC) Tuesday closed its acquisition of Svendborg Brakes A/S and S.B. Patent Holding ApS (together "Svendborg"), the manufacturer of premium quality caliper brakes.

The acquisition is anticipated to be accretive to Altra's earnings in 2014 in the range of $0.10 to $0.15 per share, excluding any one-time or acquisition-related costs.

"Svendborg is a leading brand that provides Altra with new technology and access to a number of new geographic regions," said Carl Christenson, Altra's president and CEO. "This acquisition presents a number of new opportunities to help drive our top-line and bottom-line growth, and we are excited to deliver on this key part of our growth strategy."