AMETEK ACQUIRES PENNENGINEERING MOTION TECHNOLOGIES
Paoli, PA, May 15, 2006 -- AMETEK, Inc. (NYSE: AME) today announced that it has acquired PennEngineering Motion Technologies (?PMT?), a unit of Penn Engineering & Manufacturing Corporation, for approximately $64 million in cash. PMT, composed of the Pittman and M.A.E. SpA business units, is a leading designer and manufacturer of highly engineered motors for niche applications in the data storage, medical, electronic equipment, factory automation and aviation markets with manufacturing locations in Harleysville, Pa, and Offanengo, Italy. It has annual sales of approximately $55 million.
More:
formatting link