Allied Motion Technologies Inc. (NASDAQ: AMOT) today announced that its facility located in Chatsworth, California sustained heavy damage in an early morning fire on Saturday. The damaged facility is leased by Allied’s wholly-owned subsidiary Computer Optical Products Inc. (COPI), a manufacturer of encoder products, accounting for less than 10% of Allied Motion’s consolidated revenues. While the fire damaged the majority of the manufacturing area, it was brought under control in time to prevent fire damage to one of the production lines and the stock room. The cause of the fire is not yet known.

“This is a very unfortunate event for the Company but we are committed to recover as quickly as possible to minimize any adverse effects it will have on all of our employees and business partners including customers who have placed their faith and support in our ability to deliver quality product to meet their needs,” said Dick Smith, CEO of Allied Motion. “We do expect a short-term disruption of supply to customers but we will work diligently to get temporary production lines back up and operating as quickly as possible to support our customers. We are fully insured to cover this loss including business interruption insurance that covers lost profits.”

Headquartered in Denver, Colorado, Allied Motion designs, manufactures and sells motion control products into applications that serve many industry sectors. Allied Motion is a leading supplier of precision and specialty motion control components and systems to a broad spectrum of customers throughout the world.

The statements in this press release that relate to future plans, events or performance are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statements that may predict, forecast, indicate, or imply future results, performance, or achievements. Forward-looking statements involve known and unknown risks and uncertainties, including the risks and uncertainties detailed from time to time in the Company’s SEC filings, that may cause actual results of the Company to differ materially from the forward-looking statements. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements as a prediction of actual results. The Company has no obligation or intent to release publicly any revisions to any forward looking statements, whether as a result of new information, future events, or otherwise.