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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, corrosion analysis and advanced materials 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 parts; Solartron ISA 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 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 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 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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Title Annotation:Executive Briefing: News, Trends & Market Intelligence for Instrument Executives
Publication:Instrument Business Outlook
Geographic Code:4EUUK
Date:Aug 31, 2005
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