AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with headquarters in the United States and over 80 manufacturing sites worldwide.[3]
The company was founded in 1930 and has been listed since on the NYSE under the ticker symbol NYSE: AME.[4] The company's original name, American Machine and Metals, was changed to AMETEK in the early 1960, reflecting AME's evolution from a provider of heavy machinery to a manufacturer of analytical instruments, precision components and specialty materials.[5]
Ametek today consists of two major groups (the Electronic Instruments Group and the Electromechanical Group).[6] Together, these two groups and their respective divisions combine a total of over 100 brands, including analytical instruments, monitoring, testing and calibration devices as well as electrical motors, pumps and interconnects.[7] The company's headquarters are in Paoli, Pennsylvania.
During the 1980s, one Ametek group partnered with the California Institute of Technology to assemble hypercube topology computers. It is not known how many systems were delivered, but the market came to be dominated by Intel, NCUBE, and Floating Point Systems.
On April 11,2010, AMETEK, Inc. announced acquisition of Madison, Wisconsin based 3D atom probes manufacturer Imago Scientific Instruments.[8]
On November 9, 2010, AMETEK, Inc. Acquired Chicago based provider of weathering test instruments and related testing and consulting services Atlas Material Testing Technology LLC, from Industrial Growth Partners for $159 million in cash.

AMETEK, Inc. (AMETEK), incorporated in 1930, is a global manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company markets its products worldwide through two operating groups, the Electronic Instruments Group (EIG) and the Electromechanical Group (EMG). EIG builds monitoring, testing, calibration and display devices for the process, aerospace, industrial and power markets. EMG is a supplier of electromechanical devices. EMG produces engineered electromechanical connectors for hermetic (moisture-proof) applications, specialty metals for niche markets and brushless air-moving motors, blowers and heat exchangers. End markets include aerospace, defense, mass transit, medical, office products and other industrial markets. In April 2011, the Company acquired Avicenna Technology, Inc.
In January 2010, AMETEK announced that it acquired Sterling Ultra Precision. In April 2010, the Company acquired Imago Scientific Instruments, a manufacturer of three dimensional (3D) atom probes. In June 2010, the Company acquired Technical Services for Electronics (TSE). In July 2010, the Company acquired Haydon Enterprises. In August 2010, the Company acquired American Reliance's Power Division (AMREL Power). In November 2010, the Company acquired Atlas Material Testing Technology LLC (Atlas).
Electronic Instruments Group
EIG manufactures instruments used for testing, monitoring, calibration and display for the process, aerospace, industrial and power markets. EIG serves aerospace engine sensors, heavy-vehicle instrument panels, analytical instrumentation, level measurement products, power instruments and pressure gauges. It has joint venture operations in China, Taiwan and Japan. During the year ended December 31, 2010, 53% of EIG’s sales were to customers outside the United States. As of December 31, 2010, EIG had 53 manufacturing facilities: 34 in the United States, seven in the United Kingdom, five in Germany, three in France and one each in Argentina, Austria, Canada and Denmark. EIG also shares manufacturing facilities with EMG in China and Mexico.
During 2010, 63% of EIG’s sales were from instruments for process and analytical measurement and analysis. These include oxygen, moisture, combustion and liquid analyzers; emission monitors; spectrometers; mechanical and electronic pressure sensors and transmitters; radiation measurement devices; level measurement devices; precision pumping systems, and force-measurement and materials testing instrumentation. EIG’s focus is on the process industries, including oil, gas and petrochemical refining, power generation, specialty gas production, water and waste treatment, natural gas distribution and semiconductor manufacturing. AMETEK’s analytical instruments are also used for precision measurement in a number of other applications, including radiation detection for the United States Department of Homeland Security, materials analysis, nanotechnology research and other test and measurement applications.
The Company’s Atlas offers indoor laboratory and outdoor testing services, photovoltaic and solar testing and consulting. During 2010, 25% of EIG’s sales were to the power and industrial instrumentation markets. AMETEK’s power businesses provide analytical instruments, uninterruptible power supply systems and programmable power supplies used in a range of industrial settings. EIG is engaged in the design and manufacture of power measurement and recording instrumentation used by the electric power and manufacturing industries. These products include power transducers and meters, event and transient recorders, annunciators and alarm monitoring systems used to measure, monitor and record variables in the transmission and distribution of electric power. EIG’s Solidstate Controls business designs and manufactures uninterruptible power supply systems for the process and power generation industries. EIG also manufactures sensor systems for land-based gas turbines and for boilers and burners used by the utility, petrochemical, process and marine industries worldwide.
EIG’s programmable power business includes programmable alternate current (AC) and direct current (DC) power sources. EIG’s Instrumentation and Specialty Controls business is engaged in the manufacturer of dashboard instruments for heavy trucks. It is also the supplier of similar products for construction vehicles. During 2010, 12% of EIG’s sales were from aerospace products. Aerospace products include airborne data systems; turbine engine temperature measurement products; vibration-monitoring systems; indicators; displays; fuel and fluid measurement products; sensors; switches; cable harnesses, and transducers. EIG serves all segments of commercial aerospace, including helicopters, business jets, commuter aircraft and commercial airliners, as well as the military market. It also serves the commercial aerospace aftermarket with spare part sales and repair and overhaul services.
Electromechanical Group
EMG serves engineered motors, blowers, fans, heat exchangers, connectors, and other electromechanical products or systems for commercial and military aerospace applications, defense, medical equipment, business machines, computers and other power or industrial applications. During 2010, 45% of EMG’s sales were to customers outside the United States. As of December 31, 2010, EMG had 57 manufacturing facilities: 34 in the United States, ten in the United Kingdom, three in France, two each in China, Czech Republic, Italy and Mexico and one each in Brazil and Taiwan. During 2010, differentiated businesses represented 78% of EMG’s sales and consisted of the technical motors and systems businesses and the engineered materials, interconnects and packaging businesses. During 2010, technical motors and systems, representing 47% of EMG’s sales, consisted of brushless motors, blowers and pumps, as well as other electromechanical systems. These products are used in aerospace and defense, business machines, computer equipment, mass transit vehicles, medical equipment, power and industrial applications.
EMG produces electronically commutated (brushless) motors, blowers and pumps that offer maintenance-free operation. These motor-blower systems and heat exchangers are used for thermal management and other applications on a range of military and commercial aircraft and military ground vehicles. These products are also used in medical and other applications. EMG also serves the commercial and military aerospace third-party maintenance, repair and overhaul (MRO) market. These businesses provide services on a global basis with facilities in the United States, Europe and Singapore. During 2010, 31% of EMG’s sales were engineered materials, interconnects and packaging products. AMETEK engaged in manufacturing specialized metal powder, strip, wire and bonded products. It produces stainless steel and nickel clad alloys; stainless steel, cobalt and nickel alloy powders; metal strip; specialty shaped and electronic wire; and advanced metal matrix composites used in electronic thermal management. Its products are used in automotive, appliance, medical and surgical, aerospace, telecommunications, marine and general industrial applications.
During 2010, 22% of EMG’s sales were to floorcare and specialty motor markets, through its sales of air-moving electric motors to floorcare other equipment manufacturers (OEMs), including vertically integrated OEMs that produce some of their own motors. EMG produces motor-blowers for a full range of floorcare products, ranging from hand-held, canister and upright vacuums to central vacuums for residential use. High-performance vacuum motors also are marketed for commercial and industrial applications. The Company also manufactures a range of specialty motors used in a range of products, such as household and personal care appliances; fitness equipment; electric materials handling vehicles, and sewing machines. In addition, its products are used in outdoor power equipment, such as electric chain saws, leaf blowers, string trimmers and power washers.

The second principal segment of AMETEK was the Precision Instruments Group, to which U.S. Gauge belonged as did Aerospace Products, acquired by AMETEK in 1989 as the company's only major subsidiary. Manufacturing advanced measuring and monitoring devices for the aerospace industry, this group of companies generated nearly 40 percent of company sales in 1993. However, of all AMETEK's operations, Precision Instruments suffered the most from the 1990s recession, primarily due to cutbacks in military spending and financial difficulties in the commercial airlines industry, areas on which Precision Instruments relied for nearly half of its sales. Nevertheless, the division manufactured a wide variety of products and expected to make up for its losses by exploring new markets. For example, demand for instrument panels for the heavy truck industry increased as did the need for measuring and monitoring devices in Europe, where air pollution standards have become increasingly stringent. Furthermore, industry analysts project that by the turn of the century, most airplanes will need modernization and repair, renewing business opportunities in the airline industry. AMETEK's acquisitions of Debro Messtechnik GmbH in Germany and AMETEK Denmark A/S testify to the broadening of the market for precision instruments.
AMETEK's third major segment, Industrial Materials, contributed approximately 20 percent of sales in 1993. Among the great variety of items produced by this group were specialty metals, heat exchangers, feather weight foam sheet packaging material, drinking water filters and treatment systems, and high temperature resistant plastics and textiles. Plymouth Products, in Sheboygan, Wisconsin, was the group's leading producer of kitchen and bathroom water filtration products, demand for which was expanding rapidly. Such important acquisitions as the Kleen Plus Company in Milwaukee and AMETEK Filters (formerly Eurofiltec) in Billingham, England, are expected to position AMETEK as a global leader in the water filtration enterprise. Furthermore, Industrial Materials was the only producer in the world of low density polypropylene foam packing material and a leader in heat exchanger technology, aimed at recovering waste energy from boilers more efficiently.
Growing concern for the environment at home and abroad has prompted AMETEK to produce and market environmentally safe products. Water filtration became a major growth enterprise for AMETEK when the state of Wisconsin certified its water filtration products as 99.9 percent free of the parasite that polluted Milwaukee's drinking water in 1993. In addition, the Haveg manufacturing facility, in the Industrial Materials group, became the world's biggest producer of silica yarn, a suitable replacement for asbestos. The Microfoam division of Industrial Materials produced plastic furniture packing that not only was recyclable but was made without Chloroflourocarbons, another first for AMETEK. High efficiency furnaces that utilize the type of high temperature motor blowers produced by AMETEK were increasing in popularity in the early 1990s.
A broad range of products, attention to international marketing opportunities, and new product development for a safer environment are regarded as AMETEK's strengths and should provide the company with growth and profitability in the future.
Principal Subsidiaries: Aerospace Products, Inc.

OVERALL
Beta: 0.92
Market Cap (Mil.): $7,405.42
Shares Outstanding (Mil.): 160.85
Annual Dividend: 0.24
Yield (%): 0.52
FINANCIALS
AME Industry Sector
P/E (TTM): 23.45 10.76 15.79
EPS (TTM): 55.27 -- --
ROI: 10.24 4.73 2.81
ROE: 18.57 5.92 5.15

Statistics:
Public Company
Incorporated: 1930 as American Machine and Metals, Inc.
Employees: 6,200
Sales: $770 million
Stock Exchanges: New York Pacific
SICs:: 3829 Measuring & Controlling Devices, Nec; 3621 Motors & Generators; 8650 Electrical, Electronics, Instrumentation Industries; 8670 Machinery Industry; 8600 Manufacturing Industries; 3086 Plastics Foam Products.


Name Age Since Current Position
Hermance, Frank 62 2001 Chairman of the Board, Chief Executive Officer
Molinelli, John 64 1998 Executive Vice President, Chief Financial Officer
Zapico, David 46 2003 President - Electronic Instruments
Jones, Timothy 54 2006 President - Electromechanical Group
Hardin, John 46 2008 President - Electronic Instruments
Mandos, Robert 52 2004 Senior Vice President, Comptroller
Klein, Charles 72 1980 Independent Director
Malone, James 68 1994 Independent Director
Varet, Elizabeth 67 1987 Independent Director
Williams, Dennis 65 2006 Independent Director
Kohlhagen, Steven 64 2006 Independent Director
Conti, Anthony 62 2010 Independent Director

Address:
Station Square
Paoli, Pennsylvania 19301
U.S.A.
 
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