AMETEK Acquires Southern Aeroparts, Inc.Acquisition Expands Growth Opportunities in Aerospace Aftermarket PAOLI, Pa. -- AMETEK, Inc. (NYSE NYSE See: New York Stock Exchange :AME See AIT. ) today announced the acquisition of Southern Aeroparts, Inc. ("SAI"), a Tulsa, OK-based provider of third-party maintenance, repair and overhaul Maintenance, Repair and Overhaul or MRO is a multi-billion dollar industry which works on international authorization rules to deliver a safe airline operation and to assure reliability and availability of customer fleets. (MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) services to the commercial aerospace industry. The privately held SAI has estimated 2006 annual sales of $17 million. "SAI enjoys an excellent reputation within the aerospace industry and has a strong record of growth and financial performance. The acquisition of SAI opens up new growth opportunities for AMETEK to expand the level of MRO support we provide to the airlines," notes AMETEK Chairman and Chief Executive Officer Frank S. Hermance. "SAI's MRO expertise covers a broad range of hydraulic, pneumatic and 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). components, including increasingly complex aircraft subsystems. The addition of SAI expands AMETEK's capabilities and will enable AMETEK to offer airlines a wide array of third-party MRO services," notes Mr. Hermance. "As the trend of airlines outsourcing maintenance tasks continues and accelerates, AMETEK will be well positioned to capture more of this very attractive business." SAI joins AMETEK Aerospace & Defense, a leading supplier of engine and aircraft monitoring systems, data acquisition units, fuel and fluid measurement systems, engine and airframe sensors, cables, harness assemblies, avionics blowers, fans, and heat transfer and cooling systems cooling systems for housed animals include spraying of roofs with water, evaporative pads with fans, foggers and misters; for pastured animals shelter from the sun by trees or artificial shade devices and cooling ponds are used. . AMETEK has long-standing relationships with many of the world's leading commercial airframe and jet engine manufacturers and also serves the aftermarket with spare part sales, repair and overhaul services. Corporate Profile AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices 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 $1.8 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 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. |
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