AMETEK Acquires Taylor Hobson Holdings Limited; Acquisition Expands AMETEK's High-End Analytical Instrument Platform.PAOLI, Pa. -- AMETEK, Inc. (NYSE NYSE See: New York Stock Exchange :AME See AIT. ) today announced the acquisition of Taylor Hobson Holdings Limited ('Taylor Hobson'), a leading manufacturer of ultra-precision measurement instrumentation for a variety of markets, including optics, semiconductors, hard disk drives and nanotechnology research. Taylor Hobson was acquired from funds advised by Permira for a purchase price of approximately GBP GBP In currencies, this is the abbreviation for the British Pound. 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. 51 million. With its headquarters in Leicester, England, Taylor Hobson has expected 2004 sales of approximately GBP 38 million. "We are very excited about our acquisition of Taylor Hobson," comments AMETEK Chairman and Chief Executive Officer Frank S. Hermance. "This is a highly differentiated business, focusing on the most complex and critical measurements for its customers. Taylor Hobson significantly expands our measurement capabilities into ultra-precision applications and is an excellent fit with our strategic focus on adding more high-end analytical instrument businesses. With this acquisition, our high-end analytical businesses now total more than $250 million in annual revenue." "Taylor Hobson's instrumentation is able to measure the shape and finish of surfaces to the sub-nanometer level. This measurement capability is a critical enabling technology to support product development, manufacturing process engineering and quality control. As product geometries continue to shrink, Taylor Hobson's instrumentation becomes even more important," adds Mr. Hermance. Taylor Hobson designs, manufactures, and services a broad array of contact and non-contact instrumentation for ultra-precise measurement applications. These instruments measure surface texture, shape and roundness, dimensions that are critical in many industries including optics, semiconductor, hard disk drive, automotive and bearing manufacturing. Nanotechnology is becoming an increasingly important market for Taylor Hobson's technology and represents AMETEK's first entry into this exciting area. Taylor Hobson has long been a technology leader by providing standard setting ultra-precision contact measurement systems. More recently, Taylor Hobson has introduced new products based on non-contact optical technology, including the Coherence coherence, constant phase difference in two or more Waves over time. Two waves are said to be in phase if their crests and troughs meet at the same place at the same time, and the waves are out of phase if the crests of one meet the troughs of another. Correlation Interferometer interferometer: see interference under Interference as a Scientific Tool. See also virtual telescope. An instrument that measures the wavelengths of light and distances. (CCI CCI Chambre de Commerce et d'Industrie (France) CCI CAM (Complementary and Alternative Medicine) Citation Index CCI Chamber of Commerce and Industry (Western Australia) ). This product sets new standards in three-dimensional surface analysis with measurement resolution at the sub-nanometer level. Taylor Hobson 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, aerospace, power, and industrial markets worldwide and had 2003 sales of approximately $560 million. Corporate Profile AMETEK is a leading global manufacturer of electronic instruments and electric motors with annual sales of nearly $1.1 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
About Permira Permira is a leading international private equity specialist. As an independent business, Permira is owned and controlled by its partners. In October 2003, Permira announced the final closing of a third pan-European fund, Permira Europe III, which, together with commitments from Permira, totals over Euro 5 billion. This is Europe's largest private equity fund. The firm's team of 80 professionals, based in Frankfurt, London, Madrid, Milan, New York Milan is a town in Dutchess County, New York, United States. The Town of Milan is in the northern part of the county. History The area that comprises Milan today was the western part of the Little Nine Partners Patent of 1706. , Paris and Stockholm, advises the Permira Funds with a total committed capital of Euro 11 billion. Since 1985, the Permira Funds have completed over 260 private equity transactions. During the last 3 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time Permira Funds have completed 12 transactions with a combined transaction value of over Euro 16 billion. www.permira.com 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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