Ametek Acquires Land Instruments International Limited
Acquisition Further Expands AMETEK's High-End Analytical Instrument Platform
Paoli, PA, June 15, 2006 -- AMETEK, Inc. (NYSE: AME) today announced it has acquired Land Instruments International Limited ("Land Instruments"), a global supplier of high-end analytical instrumentation. With its headquarters in Dronfield, United Kingdom, Land Instruments has annual sales of approximately £22 million ($41 million). It was acquired from an investor group led by 3i plc.
"Land Instruments is an excellent addition to our high-end process and analytical instruments business. It offers an extensive range of infrared temperature measurement, combustion efficiency and emissions monitoring instruments. With this acquisition, our high-end analytical instruments business now totals nearly $500 million in annualized sales," noted Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
"Land Instruments offers a full range of on-line optical temperature measurement instrumentation for industrial applications, including spot thermometers, line scanners and thermal imagers. These instruments, which measure temperatures up to 3000 degrees Celsius, are widely used by the metal, glass and mineral processing industries. The addition of Land Instruments' high temperature monitoring and control systems expands AMETEK's on-line process monitoring capabilities, adding to our existing strengths in on-line composition and moisture analysis," continued Mr. Hermance.
"In addition, Land Instruments' combustion efficiency and environmental monitoring products, widely used in the power and process industries, nicely complement our existing Thermox® product line. Higher energy prices and ever more stringent environmental regulations are growth drivers for these instruments," he concluded.
Land Instruments joins AMETEK as part of its Electronic Instruments Group (EIG) --a recognized leader in advanced monitoring, testing, calibrating, and display instruments for the process, aerospace, power, and industrial markets with worldwide sales in 2005 of approximately $809 million.
AMETEK, Inc. (NYSE: AME) is a leading global manufacturer of electronic instruments and electromechanical devices motors with annualized sales of approximately $1.6 billion
Contact: Jim McKinley (610) 889-5234
