Profile: Ametek Inc (AME.N)
7 Mar 2014
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 groups: the Electronic Instruments Group (EIG) and the Electromechanical Group (EMG). EIG builds monitoring, testing, calibration and display devices for the process, aerospace, industrial, power and medical markets. 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 December 2013, the Company announced that it has acquired Powervar, a provider of power management systems and uninterruptible power supply (UPS) systems. In January 2014, the Company acquired Teseq Group. In February 2014, the Company acquired VTI Instruments.
The Electronic Instruments Group
EIG consists of a group of differentiated businesses. EIG manufactures instruments used for testing, monitoring, calibration and display for the process, aerospace, industrial and power markets. EIG is specialized in the markets it serves, including 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. EIG had 56 operating facilities: 35 in the United States, seven in the United Kingdom, five in Germany, three in France, two in Switzerland and one each in Argentina, Austria, Canada and Denmark, as of December 31, 2011. EIG also shares operating facilities with EMG in China and Mexico.
Process and analytical measurement and analysis instruments 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.
TMC serves the manufacturers of life sciences, photonics and semiconductor equipment with a range of custom active piezoelectric vibration cancellation systems, based on their patented active piezo technology. TMC also supplies passive vibration cancellation systems, optical test tables, acoustic isolation hoods and magnetic isolation hoods. Reichert Technologies provides high-technology instruments used by ophthalmologists, optometrists, and opticians for vision correction and the screening and diagnosis of eye diseases, such as glaucoma and macular degeneration.
Atlas Material Testing Technology LLC (Atlas) has products, which include weather exposure test systems, corrosion-testing instruments, specialty lighting systems, and large-scale weathering test chambers. In addition, Atlas offers indoor laboratory and outdoor testing services, photovoltaic and solar testing and consulting. AMETEK’s power businesses provide analytical instruments, uninterruptible power supply systems and programmable power supplies used in a range of industrial settings. EIG designs and manufactures power measurement and recording instrumentation used by the electric power and manufacturing industries. Those 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 provides programmable alternating current (AC) and direct current (DC) power sources. EM Test provides equipment used to perform electrical immunity and electromagnetic compatibility testing. EM Test manufactures a full line of conducted electromagnetic compatibility test equipment, including electrical fast transient generators, electrostatic discharge simulators, surge generators, waveform simulators and multifunctional generators.
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. Its customers are the producers of airframes and jet engines and other aerospace system integrators. The Company also serves the commercial aerospace aftermarket with spare part sales and repair and overhaul services.
EMG provides 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. EMG had 58 operating facilities: 34 in the United States, nine in the United Kingdom, three in France, two each in China, Czech Republic, Italy and Mexico and one each in Brazil, Malaysia, Morocco and Taiwan, as of December 31, 2011. Differentiated businesses consists of the technical motors and systems businesses and the engineered materials, interconnects and packaging businesses. Technical motors and systems consist 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. 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, and are used in medical and other applications. These motors provide cooling and ventilation for business machines, computers and mass transit vehicles. EMG also serves the commercial and military aerospace third-party maintenance, repair and overhaul (MRO) market. These services are provided on a global basis with facilities in the United States, Europe and Singapore.
During the year ended December 31, 2011, engineered materials, interconnects and packaging products represented 37% of EMG’s net sales. AMETEK provides 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.
Coining provides custom-shaped preforms, microstampings and wire used for joining electronic circuitry, packaging microelectronics and providing thermal protection and electric conductivity for a range of electronic devices. Coining’s products are used in engineered applications for the radio frequency (RF)/microwave, photonics, medical, aerospace and defense, and general electronics industries. Avicenna produces fine-featured catheter and other medical components for leads, guide wires and custom medical assemblies. Avicenna complements the Company’s medical device market businesses fits with its Technical Services for Electronics (TSE) business. TSE fits with the HCC Industries division, which manufactures engineered electronic interconnects and microelectronics packaging for sophisticated electronic applications.
AMETEK is a medical interconnects provider with integrated capabilities for the catheter, cardiac and neurostimulation markets. During 2011, floorcare and specialty motor markets represented 18% of EMG’s net sales, where it sells air-moving electric motors to the floorcare other equipment manufacturers (OEMs), including vertically integrated OEMs that produce some of their own motors. EMG produces motor-blowers for a 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 variety 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.
1100 CASSATT ROAD
PO Box 1764
BERWYN PA 19312