AMETEK Announces Two Technology Acquisitions

Wed Jan 2, 2013 8:00am EST

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Sunpower, Inc. is a Leader in Cryogenic Cooling And Heated Stirling Engine
Technology
BERWYN, Pa.,  Jan. 2, 2013  /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today
announced that it has completed two technology-related acquisitions:

* Sunpower, Inc., a privately held leader in the development of stirling cycle
cryocoolers and externally heated stirling engine technology for medical,
scientific, telecommunication and space applications  
* Crystal Engineering, a privately held manufacturer of high-end, portable
pressure calibrators and digital test gauges for the oil and gas, power
generation and other industrial markets

"Both Sunpower and Crystal Engineering are excellent acquisitions that provide
us with the opportunity to bring key technologies in-house.  These technologies
will allow us to develop the next-generation of advanced radiation detection and
pressure calibration instruments," comments  Frank S. Hermance, AMETEK Chairman
and Chief Executive Officer.  

Sunpower

Headquartered in  Athens, OH, Sunpower designs and develops high reliability
cryocoolers and externally heated Stirling cycle engines. Its cryocoolers are
used to lower temperatures below -150 degrees C without the use of expensive
liquid nitrogen, while its heat engines are used in micro co-generation (heat
and power) devices.   

"Sunpower's cryogenic cooling technology provides a critical enabling technology
for use in our highly successful ORTEC Detective family of portable radiation
identifiers.  It provides a platform to support the continued growth of this
product family while providing us with opportunities to broaden the application
of cryogenic cooling and Stirling heat engine technology," adds Mr. Hermance.  

Sunpower becomes part of AMETEK Advanced Measurement Technology (AMT), a
division of AMETEK's Electronic Instruments Group -- a recognized leader in
advanced monitoring, testing, calibrating and display instruments with
annualized sales of  $1.9 billion.  

Crystal Engineering

Headquartered in  San Luis Obispo, CA, Crystal Engineering has high-end pressure
measurement technology and manufactures high-end portable digital pressure
calibrators and digital test gauges that fit well with AMETEK's JOFRA
temperature and pressure calibrators.

"We share common products and markets with Crystal Engineering.  It strengthens
our technology and product offering in the calibration instruments market.
Crystal's products broaden our line of high-end temperature and pressure
calibration instruments, while its product line benefits from the global reach
and resources of our Electronic Instruments Group," concludes Mr. Hermance.   

Crystal Engineering joins AMETEK Measurement & Calibration Technologies (M&CT),
also a Division of AMETEK's Electronic Instruments Group.  

Corporate Profile

AMETEK is a leading global manufacturer of electronic instruments and
electromechanical devices with annualized sales of  $3.4 billion. AMETEK's
Corporate Growth Plan is based on Four Key Strategies: Operational Excellence,
Strategic Acquisitions & Alliances, Global & Market Expansion and New Products.
AMETEK's 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 and the Russell 1000 Indices.

Forward-looking Information

Statements in this news release relating to future events, such as AMETEK's
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 AMETEK's ability to consummate and
successfully integrate future acquisitions; risks associated with international
sales and operations; AMETEK's 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 AMETEK's 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.

Contact:  Kevin C. Coleman  (610) 889-5247

 

 

 

SOURCE  AMETEK, Inc.
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