UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
| Date of Report (Date of Earliest Event Reported): | February 21, 2008 |
AMETEK, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
| Delaware | 1-12981 | 14-1682544 |
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_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
| 37 North Valley Road, Paoli, Pennsylvania | 19301 | |
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_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
| Registrant’s telephone number, including area code: | 610-647-2121 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On February 21, 2008, AMETEK, Inc. issued a press release to announce it has acquired privately held Drake Air. A copy of such press release is attached as Exhibit 99.1. The information contained in said press release is hereby incorporated by reference in this Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AMETEK, Inc. | ||||
| February 22, 2008 | By: |
/s/ Robert R. Mandos, Jr.
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| Name: Robert R. Mandos, Jr. | ||||
| Title: Senior Vice President and Comptroller | ||||
Exhibit Index
| Exhibit No. | Description | |
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99.1
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Copy of press release issued by AMETEK, Inc. on February 21, 2008. |
CORPORATE OFFICE
37 North Valley Road, Building 4, P.O. Box 1764, PAOLI, PA 19301-0801
Contact: William J. Burke (610) 889-5249
AMETEK ACQUIRES DRAKE AIR
Acquisition Further Expands Presence in Aerospace Aftermarket
Paoli, PA, February 21, 2008 — AMETEK, Inc. (NYSE: AME) today announced the acquisition of Drake Air, a Tulsa, OK-based provider of heat-transfer repair services to the commercial aerospace industry. The privately held Drake Air has expected annual sales of $15 million.
“The acquisition of Drake Air represents a further expansion of AMETEK’s growing presence in the global aerospace maintenance, repair and overhaul services (MRO) industry. This acquisition, coupled with AMETEK’s recent acquisitions of Umeco Repair and Overhaul, Southern Aeroparts and B&S Aircraft Parts expands our global MRO platform,” notes AMETEK Chairman and Chief Executive Officer Frank Hermance.
“Drake Air extends our MRO capabilities to the thermal management segment of the aerospace market by providing FAA-approved repair services for these products. Drake Air complements our line of Hughes-Treitler heat exchangers and thermal management subsystems, providing new growth opportunities,” adds Mr. Hermance.
Drake Air joins AMETEK’s global MRO network as a unit of AMETEK Aerospace & Defense. Along with MRO services, AMETEK Aerospace & Defense is a leading supplier of engine and aircraft monitoring systems, power generation and distribution systems, data acquisition units, fuel and fluid measurement systems, engine and airframe sensors, cables, harness assemblies, avionics blowers, fans, and heat transfer and cooling systems.
AMETEK Aerospace & Defense is a division of AMETEK, Inc. (NYSE: AME), a leading global manufacturer of electronic instruments and electromechanical devices with 2007 sales of more than $2.1 billion.
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices
with 2007 sales of more than $2.1 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.
—MORE—
AMETEK ACQUIRES DRAKE AIR
Page 2
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.
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