AMETEK Acquires Pulsar Technologies, Inc.PAOLI, Pa. -- AMETEK, Inc. (NYSE NYSE
See: New York Stock Exchange :AME See AIT. ) today announced it has acquired privately held Pulsar Technologies, Inc. ("Pulsar"). Based in Coral Springs Coral Springs, city (1990 pop. 79,443), Broward co., SE Fla.; inc. 1963. Largely residential, it is a city that has grown rapidly along with the southern Florida and Fort Lauderdale area. The population of Coral Springs nearly doubled between 1980 and 1990. , FL, Pulsar is a leading designer and manufacturer of specialized communications equipment for the electric utility market with annual sales of approximately $10 million.
"Pulsar is a niche-focused business that broadens our product offering for the electric power market and expands our relationships with key customers in this important market segment," commented AMETEK Chairman and Chief Executive Officer Frank S. Hermance. "The addition of Pulsar's communications hardware complements AMETEK's existing Power Instruments business, which produces power quality monitoring and metering instrumentation."
Pulsar is a leading supplier of power line carrier systems for relay communications equipment and fully integrated multiplexer See multiplexor and multiplexing.
multiplexer - multiplexor systems for general power and telecommunication applications. This equipment provides communications between power substations for the protective relays on electric power lines to facilitate their operation and provide critical feedback on the faults and functioning of the electric transmission grid.
Pulsar joins AMETEK as part of its Electronic Instruments Group (EIG EIG Excellence in Government
EIG Engineering Installation Group
EIG Evènement Indésirable Grave (French)
EIG Erie Insurance Group
EIG Ecole Internationale de Genève (French) ) --a recognized leader in advanced monitoring, testing, calibrating, and display instruments. AMETEK EIG sells its instruments to the process and analytical, aerospace, power, and industrial markets worldwide and had 2005 sales of $808 million.
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 $1.6 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 400 Index and the Russell 1000 Index The Russell 1000 Index is a stock market index of US stocks.
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Statements in this news release that are not historical are considered "forward-looking statements" 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.