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AMETEK Acquires Hughes-Treitler Manufacturing Corporation; Expands Position in Thermal Management Applications for Aerospace and Defense Markets.

PAOLI, Pa. -- AMETEK, Inc. (NYSE:AME) today announced the acquisition of the assets of Hughes-Treitler Manufacturing Corporation, a privately held supplier of heat exchangers and thermal management subsystems for the aerospace and defense markets. Hughes-Treitler, located in Garden City, NY, has about 190 employees and expected annual sales of approximately $32 million. The purchase price is approximately $48 million in cash.

"We are very excited about the acquisition of Hughes-Treitler," commented AMETEK Chairman and Chief Executive Officer Frank S. Hermance. "It significantly expands our thermal management product offering to the military and commercial aerospace markets. Hughes-Treitler provides complementary products and serves a number of customers common to our other aerospace and defense businesses."

"Together with our Rotron and Airtechnology business units, Hughes-Treitler enables AMETEK to provide a broader range of thermal management subsystems to our customers on a global basis," adds Mr. Hermance.

Hughes-Treitler is a recognized market leader in heat exchangers and other subsystems designed for equipment cooling or maintaining environmental integrity in the commercial and military aerospace industries. Products include air-oil coolers, air-air coolers, surface coolers, ECS evaporator condensers, fuel oil coolers, liquid air heat exchangers, liquid oxygen heat exchangers, and buffer air heat exchangers. These products are used in a variety of applications for airframes, engine and avionics systems on aircraft as well as in military vehicle, marine, space and industrial applications.

Corporate Profile

AMETEK is a leading global manufacturer of electronic instruments and electric motors with annualized sales of more than $1.2 billion. AMETEK's Corporate Growth Plan is based on Four Key Strategies: Strategic Acquisitions & Alliances, Global & Market Expansion, New Products, and Operational Excellence. 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.

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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Publication:Business Wire
Geographic Code:1USA
Date:Jul 19, 2004
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