PAOLI, Pa.--(BUSINESS WIRE)--June 13, 2005--AMETEK, Inc.
(NYSE:AME) today announced it has acquired SPECTRO Beteiligungs GmbH
("SPECTRO"), the holding company of SPECTRO Analytical Instruments
GmbH & Co KG and its affiliates. SPECTRO is a leading global supplier
of Atomic Spectroscopy analytical instrumentation. SPECTRO was
acquired from an investor group led by German Equity Partners BV for
approximately EUR 80 million ($98 million). With its headquarters in
Kleve, Germany, SPECTRO has annual sales of approximately EUR 85
million ($104 million).
SPECTRO designs, manufactures, and services a broad array of
atomic spectroscopic instrumentation used to analyze the elemental
composition of solids and liquids. Using optical emission or energy
dispersive x-ray fluorescence (ED-XRF) measurement techniques,
SPECTRO's instruments address the analysis requirements of a variety
of end markets, including, metal production and processing,
environmental testing, hydrocarbon processing, aerospace, food
processing, and pharmaceutical.
"We are very excited about the acquisition of SPECTRO," commented
AMETEK Chairman and Chief Executive Officer Frank S. Hermance.
"SPECTRO is a highly differentiated business, which significantly
expands our elemental analysis capabilities, bringing new technologies
and market opportunities to AMETEK. With this acquisition, our
high-end analytical businesses now total nearly $375 million in annual
"SPECTRO holds a leading market position for metal analyzers,
employing Arc/Spark optical emission spectrometry - a technique widely
regarded as the most precise and reliable measurement for this market.
SPECTRO's Inductively Coupled Plasma (ICP) optical emission
spectrometers also bring to AMETEK the capability to make analytical
liquids analysis, opening new measurement opportunities for AMETEK,
particularly for environmental testing. In addition, SPECTRO's
ED-XRF-based products complement those manufactured by our EDAX
business, enabling AMETEK to supply a broader range of products to
this very attractive market," added Mr. Hermance.
SPECTRO will join 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 the process, aerospace, power, and industrial markets worldwide and
had 2004 sales of approximately $667 million.
AMETEK is a leading global manufacturer of electronic instruments
and electric motors with annualized sales of approximately $1.3
billion. AMETEK's Corporate Growth Plan is based on Four Key
Strategies: Operational Excellence, Strategic Acquisitions &
Alliances, Global & Market Expansion, and New Products. Its 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.
Statements in this news release that are not historical are
considered "forward-looking statements" and are subject to change
based on various factors and uncertainties that may cause actual
results to differ significantly from expectations. Those factors are
contained in AMETEK's Securities and Exchange Commission filings.
William J. Burke
SOURCE: AMETEK, Inc.