AMETEK Acquires Technology for High-Efficiency Micro-Motors.PAOLI, Pa. -- AMETEK, Inc. (NYSE NYSE See: New York Stock Exchange :AME See AIT. ) today announced the acquisition of patented technology and other proprietary and intellectual assets from Xtreme Energy, a privately held developer of brushless DC micro-motors for healthcare, aerospace and other specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. industrial applications. "Xtreme Energy's patented technology allows for the design and manufacture of high-efficiency brushless, slotless DC motors that produce more power, relative to size, than comparable motors. Their motors utilize proprietary and patented winding geometry and motor construction techniques that result in some of the most energy efficient brushless DC motors available," commented Mr. Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. "This acquisition complements our existing differentiated technical motor business, adding a unique line of small high-efficiency motors to our brushless DC motor offering and strengthening our relationships with key industry OEMs, many of whom already are customers of that business," noted Mr. Hermance. "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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