AMETEK Acquires Southern Aeroparts, Inc.
Acquisition Expands Growth Opportunities in Aerospace Aftermarket
Dec 13, 2006
Paoli, PA, AMETEK, Inc. (NYSE: AME) has acquired Southern Aeroparts, Inc. ("SAI"), a Tulsa, OK-based provider of third-party maintenance, repair and overhaul (MRO) services to the commercial aerospace industry. The privately held SAI has estimated 2006 annual sales of $17 million.
"SAI enjoys an excellent reputation within the aerospace industry and has a strong record of growth and financial performance. The acquisition of SAI opens up new growth opportunities for AMETEK to expand the level of MRO support we provide to the airlines," notes AMETEK Chairman and Chief Executive Officer Frank S. Hermance.
"SAI's MRO expertise covers a broad range of hydraulic, pneumatic and electromechanical components, including increasingly complex aircraft subsystems. The addition of SAI expands AMETEK's capabilities and will enable AMETEK to offer airlines a wide array of third-party MRO services," notes Mr. Hermance. "As the trend of airlines outsourcing maintenance tasks continues and accelerates, AMETEK will be well positioned to capture more of this very attractive business."
SAI joins AMETEK Aerospace & Defense, a leading supplier of engine and aircraft monitoring 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 has long-standing relationships with many of the world's leading commercial airframe and jet engine manufacturers and also serves the aftermarket with spare part sales, repair and overhaul services.
AMETEK Aerospace & Defense is a unit of AMETEK, Inc., a leading global manufacturer of electronic instruments and electromechanical devices with annualized sales of approximately $1.8 billion.
Contact:
Jim McKinley,
(610) 889-5234
