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News Release
AMETEK ACQUIRES INSTRUMENTS FOR RESEARCH AND APPLIED
SCIENCE
Expanding Position in Analytical Instrumentation Paoli, PA, January 02, 2002 -- AMETEK, Inc. (NYSE: AME) today announced
the acquisition of Instruments for Research and Applied Science (IRAS), a leading
developer and manufacturer of analytic instrumentation, from PerkinElmer, Inc. IRAS
manufactures and markets technologically advanced analytical instrumentation that is used
in a number of applications including nuclear spectroscopy, research electrochemistry, and
electronic signal processing. IRAS, based in Oak Ridge, TN, has 275 employees and is
expected to report sales of approximately $50 million in 2001. The purchase price was
approximately $63 million in cash.
IRAS markets instruments under the ORTEC, Princeton Applied Research, and
Signal Recovery brand names. ORTEC products include high-purity germanium detectors
and spectrometers used to detect, identify, quantify and monitor radioactive materials.
These sophisticated instruments and associated software are focused on the increasingly
important areas of environmental monitoring, detection of nuclear and chemical weapons,
and research. Princeton Applied Research products are high-precision
electrochemical analysis instruments used in materials characterization, research, life
sciences, and semiconductor applications. Signal Recovery products include a
variety of instruments that measure low-level or contaminated electrical signals with
applications in the electronics, optics, industrial and research markets."Our acquisition of IRAS further expands AMETEK’s position in
differentiated analytical instruments," notes AMETEK Chairman and Chief Executive
Officer Frank S. Hermance. "IRAS significantly extends our capabilities in the
measurement of physical properties. It brings new technologies, applications and end
market opportunities to AMETEK and also provides an additional platform for growth,"
he adds.
AMETEK has also acquired PerkinElmer’s 49% ownership position in
Seiko EG&G, a joint venture that serves as the exclusive distributor of the IRAS
products in Japan.AMETEK is a recognized leader in advanced monitoring,
testing, calibrating and display instruments. Its Electronic
Instruments Group (EIG), which had 2000 sales of $510 million, sells
its instruments to the process, aerospace, power, and industrial
markets worldwide. IRAS will become a new business unit within EIG –
Advanced Measurement Technology. |
