News | January 9, 2008

MicroMo Electronics Announces Cooperation And Investment Agreement With PiezoMotor AB


MicroMo Electronics, Inc., a member of the FAULHABER Group, a leader in microdrive, precision and microsystem technology, and PiezoMotor AB, a leading provider of new piezoelectric motor technologies, announced that they have signed an investment and extensive collaboration agreement. The aim of the cooperation is to launch innovative custom designed precision and micro systems based on proprietary piezo motor technology.

‘We have been striving to find a suitable industrial partner for PiezoMotor AB and based on the strategic fit between MicroMo Electronics, Inc, a member of the FAULHABER Group, and PiezoMotor AB, we are confident that the partnership will deliver outstanding value to customers and shareholders of both companies. We are very proud to join forces with such a professional and well respected company as FAULHABER', says Adam Dahlberg, Chairman of the Board of Directors of PiezoMotor AB.

‘This is a very important step in the development of our company', says Per Oskar Lithell, CEO of PiezoMotor AB. ‘Our cutting edge micro motor technology now meets the extensive application knowledge and industrial expertise of the FAULHABER Group. This cooperation will mean great benefit to the customers of both PiezoMotor AB and FAULHABER', Mr. Lithell continues.

‘The piezo motor technology from PiezoMotor AB complete and expand the product portfolio of the FAULHABER Group and offer new and outstanding application options to our customers', says Dr. Fritz Faulhaber, Managing Partner of Dr. Fritz Faulhaber GmbH & Co. KG, Schönaich, Germany and President of MicroMo Electronics Inc., Clearwater, USA.

‘PiezoMotor AB offers highly developed and industrially applicable piezo motor technology for rotational and linear drive solutions in our markets', says Gert Frech-Walter, Managing Director of Dr. Fritz Faulhaber GmbH & Co. KG. ‘This cooperation provides a great opportunity for all partners to achieve a common economic success. We look forward to working with the most innovative piezo motor company in the marketplace'.

The participation and cooperation of the FAULHABER Group will be undertaken through MicroMo Electronics, Inc. in North America and through the Dr. Fritz Faulhaber, Gmbh & Co. KG in Germany.

About MicroMo Electronics, Inc. and the FAULHABER Group
Headquartered in Clearwater, Florida, MicroMo Electronics, Inc. is the North American source for the world's smallest high precision DC drive systems, components, and controls. MicroMo Electronics, Inc. is a member of the FAULHABER Group which offers the world's largest consolidated portfolio of miniature and micro drive system technologies available from one partner in the world today. The Group specializes in the design and manufacture of complex, high precision miniature and micro drive systems for challenging areas of application like medical devices, handling automation, telecommunications, and precision optics.

About PiezoMotor AB
PiezoMotor AB is dedicated to delivering the best and most cost competitive micro motors on the market. Founded in 1997, PiezoMotor AB develops, manufactures and brings to market several types of micro motors based on piezo technology. A number of technological platforms have been developed and successfully patented. PiezoMotor AB markets the nano-precision Piezo LEGS® motors and the extremely small PiezoWave™ motors designed for mass volume applications such as handheld devices, digital household electrical appliances, medical technology devices and the automotive industry. The company has its own in-house manufacturing facility and is currently a supplier of motion solutions and partner to many leading multinational companies. Its customers are key players within consumer electronics, medical technology, factory automation, positioning equipment etc. and the customer base is growing rapidly.