AMETEK Acquires Motion Control Group.PAOLI, Pa. -- AMETEK, Inc. (NYSE NYSE See: New York Stock Exchange :AME See AIT. ) today announced that it has acquired the Motion Control Group (MCG mcg microgram. mcg abbr. microgram mcg microgram. mcg Microgram, see there; the preferred written abbreviation is µg ), a leading global manufacturer of highly customized motors and motion control solutions for the medical, life sciences, industrial automation, semiconductor and aviation markets. Headquartered in Minneapolis, MN, MCG has annual sales of approximately $26 million. "MCG enjoys a strong reputation with its customers, has solid engineering capabilities and is an excellent strategic fit with our highly differentiated technical motor business, sharing common markets, customers, distribution channels and motor platforms," comments Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. "MCG greatly enhances our capability in providing precision motion technology solutions. Its brush-commutated and brushless DC motors complement our existing motor business, while its linear motor line further broadens the range of solutions we offer the motion control market," notes Mr. Hermance. MCG becomes part of AMETEK's Technical & Industrial Products (TIP) unit, which produces brush-commutated DC motors, brushless DC motors, hybrid stepper motors A motor that rotates in small, fixed increments and is used to control the movement of the access arm on a disk drive. Contrast with voice coil. (hardware) stepper motor , slotless motors, motor controllers, blowers, fans and pumps for a variety of end markets. AMETEK TIP is a unit of AMETEK's Electromechanical The use of electricity to run moving parts. Disk drives, printers and motors are examples. Electromechanical systems must be designed for the eventual deterioration of moving components that wear over time. The first TVs were electromechanical systems (see video/TV history). Group (EMG EMG abbr. electromyogram Electromyography (EMG) A diagnostic test that records the electrical activity of muscles. ), a differentiated supplier of electrical interconnects, microelectronic packaging, technical motors and systems, and specialty metal products. EMG also produces electric motors for floor care and other specialty motor applications and had 2007 sales of approximately $937 million. Corporate Profile AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with 2007 sales of more than $2.1 billion. AMETEK's Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion and New Products. AMETEK's 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 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 relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future events such as AMETEK's expected business and financial performance are "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. ". Forward-looking statements are subject to various factors and uncertainties that may cause actual results to differ significantly from expectations. These factors and uncertainties include our ability to consummate and successfully integrate future acquisitions; risks associated with international sales and operations; our ability to successfully develop new products, open new facilities or transfer product lines; the price and availability of raw materials; compliance with government regulations, including environmental regulations; changes in the competitive environment or the effects of competition in our markets; the ability to maintain adequate liquidity and financing sources; and general economic conditions affecting the industries we serve. A detailed discussion of these and other factors that may affect our future results is contained in AMETEK's filings with the Securities and Exchange Commission, including its most recent reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , 10-Q and 8-K. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements. |
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