Altra (AIMC) Buys Lamiflex for $8.6M

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Altra Holdings Inc. (Nasdaq: AIMC) today announced that its subsidiary, Altra Industrial Motion Netherlands BV, has acquired 85% of privately held Lamiflex do Brasil Equipamentos Industriais Ltda.

Lamiflex is the premier Brazilian manufacturer of high-speed disc couplings, providing engineered solutions to a variety of industries, including oil and gas, power generation, metals and mining. The Lamiflex acquisition is part of Altra's plan to acquire assets in key strategic regions which offer significant long-term growth profiles.

Altra acquired the business for a cash consideration of 17.4 million Reais (approximately US $8.6 million based upon current exchange rates), subject to a post-closing adjustment for net debt. The acquisition is anticipated to be accretive to Altra Holdings' earnings in 2012, excluding any one-time or acquisition-related costs.

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