MISCOR Group Announces Distribution Agreement with Avtron Industrial Automation, Inc.
MASSILLON, Ohio, May 16, 2012 /PRNewswire/ -- MISCOR Group, Ltd. (OTCQB:MIGL) is pleased to announce the authorization of its wholly owned subsidiary, Magnetech Industrial Services, as a distributor for Avtron Industrial Automation, Inc. As a distributor Magnetech offers its customers access to Avtron's encoders, encoder signal convertors, and related encoder accessories for various applications across several industries, including metal producing, metal forming, pulp and paper, wind energy and material handling. Magnetech provides comprehensive maintenance and repair services for electrical-mechanical industrial equipment and power distribution equipment, including rewind and refurbishment, field services, preventative maintenance, and emergency services.
"Avtron is an ideal partner for us. Keeping our customers productive is our business. Avtron's specially engineered, ultra reliable products align with our commitment to provide customers with exceptional repair services and value-added products," said Michael P. Moore, President and CEO of MISCOR Group.
The agreement grants Magnetech the rights to distribute Avtron branded products, including the SMARTach™ and THIN-LINE™ product lines, along with other related spare parts and accessories, which ultimately improve productivity. The terms of the agreement allow distribution within a geographical territory consisting of Ohio, Indiana, Michigan and Kentucky.
"We're delighted to welcome Avtron as a new vendor partner. This agreement further supports our commitment to provide superior quality products to our customers through the Magnetech sales network," remarked Moore. "The Avtron portfolio of encoders will provide our customer community with durable, highly customizable offerings for their most complex applications. We are excited about the opportunities created by this partnership as we continue driving our growth initiatives and delivering on our performance expectations."
About MISCOR Group, Ltd.
Massillon, Ohio-based MISCOR Group, Ltd. (MIGL) provides electrical and mechanical solutions to industrial, commercial and institutional customers through two segments: Industrial Services, consisting of the Company's maintenance and repair services to several industries, including electric utilities, wind power, transportation, chemical, oil, pulp and paper, metal manufacturing and forming, and repairing, manufacturing, and remanufacturing industrial lifting magnets for the steel and scrap industries; and Rail Services, consisting of the Company's manufacturing of power assemblies, engine parts, and other components related to large diesel engines.
About Avtron Industrial Automation, Inc.
Avtron Industrial Automation is recognized worldwide as the market leader in heavy duty encoders, used to provide precise speed control in severe environment applications including metals, cranes, pulp & paper, material handling and wind turbine generators.
Avtron Industrial Automation also delivers drive systems, automation solutions and diagnostic software designed to help users reduce costs, increase efficiency and enhance profitability. Headquartered in Independence, Ohio, Avtron Industrial Automation provides solutions for the global market.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "estimates," "expects," "intends," "should," "could," "will," or variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements reflect the Company's views, expectations and beliefs at the time such statements were made with respect to such matters, and may cover such items as the Company's future plans, objectives, events, contract pricing and results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that make the timing, extent, likelihood and degree of occurrence of these matters difficult to predict. Risk Factors include, among others: price of raw materials, ability to win and service competitively priced new contracts in sufficient amounts to operate and expand effectively, employee turnover, ability to compete in highly competitive, geographically diverse marketplaces, ability to complete planned divestitures and varying and sometimes volatile economic conditions. For further discussion of risks and uncertainties, individuals should refer to the Company's SEC filings. MISCOR Group, Ltd. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release is issued. You are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
SOURCE MISCOR Group, Ltd.