AMETEK Acquires Power Control Technology
Paoli, PA, April 18, 2007 -- AMETEK, Inc. (NYSE: AME) today announced that it has acquired the Halmar Robicon silicon controlled rectifier (SCR) power controller and related Power Control Systems technology and products of Siemens Energy & Automation, Inc.
“Halmar Robicon is widely recognized for its advanced power control technology. That technology fits well with AMETEK Solidstate Controls and provides us with attractive opportunities to further broaden our capabilities and position in the U.S. power controller market,” comments Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
“AMETEK Solidstate Controls is a widely recognized leader in Uninterruptible Power Supply (UPS) and battery management systems for industrial applications and power generation as well as a leading supplier of industrial SCR power controllers, custom power supplies and equipment,” adds Mr. Hermance.
“SCR power controllers provide advanced power conversion and control for a wide range of industrial applications. They are solid-state alternatives to mechanical contactors used to provide temperature control for semiconductor fabrication, glass manufacturing, plastic extrusion and other industrial and laboratory furnaces and ovens,” he noted.
AMETEK Solidstate Controls is a unit of AMETEK's Electronic Instruments Group—a global leader in advanced instruments for the process, aerospace, power and industrial markets with 2006 sales of more than $1 billion.
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with 2006 sales of $1.8 billion. AMETEK's Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion and New Products. AMETEK's 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 relating to future events, such as AMETEK's expected business and financial performance, are "forward-looking statements". Forward-looking statements are subject to various factors and uncertainties that may cause actual results to differ significantly from expectations. These factors and uncertainties include our ability to consummate and successfully integrate future acquisitions; risks associated with international sales and operations; our ability to successfully develop new products, open new facilities or transfer product lines; the price and availability of raw materials; compliance with government regulations, including environmental regulations; changes in the competitive environment or the effects of competition in our markets; the ability to maintain adequate liquidity and financing sources; and general economic conditions affecting the industries we serve. A detailed discussion of these and other factors that may affect our future results is contained in AMETEK's filings with the Securities and Exchange Commission, including its most recent reports on Form 10- K, 10-Q and 8-K. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements.CONTACT: AMETEK, Inc.
William J. Burke, 610-889-5249
SOURCE: AMETEK, Inc.