AMETEK Acquires Innovative Pump Technology for Oil and Gas Market.PAOLI, Pa. -- AMETEK, Inc. (NYSE NYSE See: New York Stock Exchange :AME See AIT. ) today announced the acquisition of Quizix, a privately held manufacturer of precision pumping systems for the oil and gas market. Quizix has developed innovative pumping technology that enables oil and gas producers to replicate conditions at the bottom of their wells allowing them to test core samples under actual conditions. These precision pump systems offer continuous pulse-free flow at high pressures and temperatures which are needed to simulate reservoir conditions allowing for more efficient oil and gas extraction. "Quizix's technology adds to AMETEK's growing range of oil and gas instrumentation products," noted Mr. Hermance. "Together with our Chandler Engineering business unit and the soon to be completed acquisition of Solartron ISA (1) (Instruction Set Architecture) See instruction set. (2) (Interactive Services Association) See Internet Alliance. (3) (Internet Security and Acceleration) See .NET. , AMETEK is increasing its exposure to this important market area." "AMETEK will continue to make technology-focused acquisitions such as this to further expand our technology base and create additional avenues for internal growth," he concluded. Corporate Profile AMETEK is a leading global manufacturer of electronic instruments and electric motors with annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. sales of approximately $1.4 billion. AMETEK's Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion, and New Products. Its objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P MidCap mid·cap adj. 1. Or or relating to corporations whose retained earnings and outstanding shares of common stock have a value between those of small cap companies and large cap corporations. 2. 400 Index and the Russell 1000 Index The Russell 1000 Index is a stock market index of US stocks. The ticker is "RUI" or similar. See Russell Indexes page for main discussion. See also the iShares Russell 1000. External links
Forward-looking Information Statements in this news release that are not historical are considered "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " and are subject to change based on various factors and uncertainties that may cause actual results to differ significantly from expectations. Those factors are contained in AMETEK's Securities and Exchange Commission filings. |
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