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Ametek buys PennEngineering Motion for $64m

01 June, 2006

The US conglomerate Ametek is buying PennEngineering Motion Technologies (PMT) from Penn Engineering & Manufacturing for around $64m in cash. In a seperate deal, it has also bought the British firm Land Instruments International for an undisclosed sum from a group of investors led by 3i.

PMT, which includes the Pittman and MAE motor businesses, specialises in small brushed and brushless DC motors for niche applications in markets such as aviation, data storage, and medical equipment, as well as factory automation. Its annual sales amount to around $55m.

PMT will become part of Ametek`s Technical & Industrial Products division, which makes brushless DC motors, slotless motors, motor controllers, blowers, pumps and fans. The division is part of Ametek`s electromechanical group, which also produces motors for floor-cleaning appliances, packaging for microelectronics, and electrical connectors. Last year, the group contributed sales worth some $626m to Ametek`s total income of around $1.6bn.

"PMT has long been a leader in fractional horsepower electric motors and enjoys an excellent reputation for product innovation and outstanding customer service," says Frank Hermance, Ametek`s chairman and chief executive.

He describes the acquired business as "an excellent strategic fit with our highly differentiated technical motor business. They share common markets, customers, distribution channels and motor platforms."

PMT`s hybrid stepper motors and brush-commutated DC servo motors will expand Ametek`s offerings in several specialised markets. It addition, the acquisition will broaden the geographical reach of Ametek`s motors business, and strengthen its relationships with key OEMs.

Land Instruments, based in Dronfield near Sheffield, specialises in in analytical instrumentation and had sales last year worth around $41m.

"Land Instruments is an excellent addition to our high-end process and analytical instruments business," says Hermance. "It offers an extensive range of infrared temperature measurement, combustion efficiency and emissions monitoring instruments. With this acquisition, our high-end analytical instruments business now totals nearly $500m in annualised sales.".

Land`s portfolio of on-line optical temperature measuring instruments encompasses spot thermometers, line scanners and thermal imagers. These include the handheld IR imager shown above which the companmy claims is the world`s smallest and lightest. Land`s instruments, which can measure temperatures up to 3,000°C, are used widely by the metal, glass and minerals processing industries.

Land will join Ametek`s Electronic Instruments Group which had global sales worth about $809m last year. The acquisition will expand Ametek`s existing capabilities in on-line composition and moisture analysis.

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