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8-K - LIVE FILING - AMETEK INC/ | htm_54210.htm |
Exhibit 99.1
Contact: Kevin Coleman +1 610-889-5247
AMETEK ACQUIRES LASERAGE TECHNOLOGY CORPORATION
Leader in Laser Fabrication for Medical Device Market
BERWYN, PA, NOVEMBER 1, 2016 AMETEK, Inc. (NYSE: AME) today announced that it has completed the acquisition of Laserage Technology Corporation, a leading provider of laser fabrication services for the medical device market. Laserage is a privately held company with headquarters and manufacturing operations in Waukegan, IL, and a manufacturing facility in Milipitas, CA. Laserage has estimated annual sales of $22 million.
Laserage is an excellent addition to our growing presence in the medical industry. Its fabrication and manufacturing capabilities are an excellent fit with our engineered medical components business providing strong market and technology synergies, comments David A. Zapico, AMETEK Chief Executive Officer.
Laserage offers precision tube fabrication of minimally invasive surgical devices, stents and catheter-based delivery systems. Its expertise includes laser fabrication of flat stock and tube for medical devices and specialty catheters.
Laserage joins AMETEK as part of its Electromechanical Group (EMG) a differentiated supplier of electrical interconnects, precision motion control solutions, medical components, specialty metals, thermal management systems, and floor care and specialty motors.
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices
with annual sales of approximately $4.0 billion. AMETEKs Corporate Growth Plan is based on Four
Key Strategies: Operational Excellence, Strategic Acquisitions, Global & Market Expansion and New
Products. AMETEKs 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 500 Index.
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AMETEK ACQUIRES LASERAGE TECHNOLOGY CORPORATION
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Forward-looking Information
Statements in this news release relating to future events, such as AMETEKs expected business and
financial performance are forward-looking statements. Forward-looking statements are subject to
various factors and uncertainties that may cause actual results to differ significantly from
expectations. These factors and uncertainties include AMETEKs ability to consummate and
successfully integrate future acquisitions; risks associated with international sales and
operations; AMETEKs ability to successfully develop new products, open new facilities or transfer
product lines; the price and availability of raw materials; compliance with government regulations,
including environmental regulations; changes in the competitive environment or the effects of
competition in our markets; the ability to maintain adequate liquidity and financing sources; and
general economic conditions affecting the industries we serve. A detailed discussion of these and
other factors that may affect our future results is contained in AMETEKs filings with the U.S.
Securities and Exchange Commission, including its most recent reports on Form 10-K, 10-Q and 8-K.
AMETEK disclaims any intention or obligation to update or revise any forward-looking statements.
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