AMETEK Acquires American Reliance's Power Division |
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AMETEK U.S. Gauge Hunter Spring
37 North Valley Rd Building 4
Paoli, PA, 19301
USA
Press release date: August 19, 2010
Acquisition Strengthens AMETEK's Position in Programmable Power Supplies
PAOLI, Pa., Aug. 19 -- AMETEK, Inc. (NYSE:AME) today announced that it has acquired assets comprising substantially all of American Reliance's Power Division (AMREL Power), a provider of highly differentiated direct current (DC) power supplies and electronic loads for the automated test equipment market.
The El Monte, CA, business joins AMETEK's San Diego-based Programmable Power Division, a leader in programmable power sources for testing electrical and electronic products for a wide variety of Test & Measurement and Process Power applications.
"AMREL Power is an excellent fit with our programmable power business," notes Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. "This acquisition further broadens the scope and strengthens our position in this business, especially in high power programmable electronic loads for industrial, military and alternative energy applications."
"AMREL Power's products fully complement our existing line of programmable power supplies and electronic loads. Our combined product line now allows us to offer a complete portfolio of programmable power products to the automated test equipment market. The addition of AMREL Power also provides us with attractive new opportunities in solar power, fuel cell and battery testing applications," adds Mr. Hermance.
AMREL Power joins AMETEK as part of its Electronic Instruments Group (EIG) -- a recognized leader in advanced monitoring, testing, calibrating and display instruments. AMETEK EIG sells its instruments to process, aerospace, power and industrial markets worldwide and had 2009 sales of $1.1 billion.
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices with 2009 sales of $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 and the Russell 1000 Indices.
Source: AMETEK, Inc.
CONTACT: William J. Burke, of AMETEK, Inc., +1-610-889-5249
Web Site: http://www.ametek.com/
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