AMETEK to acquire Solarton Companies.Paoli, PA 8/25/05; Huntingdon, UK 8/25/05 -- AMETEK has agreed to acquire the Solartron Group from Roxboro Group for approximately 42 million [pounds sterling] ($75 million) in cash. Solarton has annual sales of 27 million [pounds sterling] ($50 million) and is comprised of three companies: Solartron Analytical makes analytic measurement instruments and software for the characterization of materials that are used for electrochemistry electrochemistry, science dealing with the relationship between electricity and chemical changes. Of principal interest are the reactions that take place between electrodes and the electrolytes in electric and electrolytic cells (see electrolysis), as well as the , corrosion analysis and advanced materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, analysis; Solartron Metrology manufactures digital and analog gauging probes, displacement transducers and associated instrumentation used primarily to measure the size and form of machined or fabricated fab·ri·catetr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: parts; Solartron ISA (1) (Instruction Set Architecture) See instruction set. (2) (Interactive Services Association) See Internet Alliance. (3) (Internet Security and Acceleration) See .NET. designs and manufactures flow measurement devices for the oil and gas industry. "Solartron is composed of an excellent set of differentiated, niche-focused businesses that fit nicely with several of our current process and analytical instrument businesses," said AMETEK Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Frank S. Hermance. Solartron will join AMETEK's Electronic Instruments Group. AMETEK stated that Solartron Analytical fits with its Princeton Applied Research unit (see IBO Ibo: see Igbo. 1/15/02), Solartron Metrology complements its Taylor Hobson unit (see IBO 6/30/04), and Solartron ISA adds to its oil and gas instrument business. The Solartron Group's senior management will stay with the company, including director Allan Imrie. In 2004, the Solartron Group, excluding Solartron Analytical, posted sales of 16.5 million [pounds sterling] ($30.5 million), a gross profit of 6.8 million [pounds sterling] ($12.6 million) and an operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. of 3.1 million [pounds sterling] ($5.7 million). Solartron Analytical had been a product line of Roxboro's Mobrey Companies, makers of process measurement and control equipment, which was sold to Emerson in July for 26.0 million [pounds sterling] ($48.1 million). In 2004, Solartron Analytical recorded 8.5 million [pounds sterling] ($15.7 million) in sales and a gross profit of 3.7 million ($6.9 million). |
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