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"We see significant growth opportunities for our businesses in India," comments Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. "The acquisition of Unispec Marketing and Thelsha Technical Services provides us with an established sales, distribution and service network with a total of 11 offices across India serving the quality control and analytical instrumentation market."
"Unispec Marketing currently represents our Spectro Analytical Instruments business among others in India, while its Thelsha Technical Services affiliate provides installation and post-sales service for those instruments. We expect other AMETEK businesses to use this newly acquired distribution, installation and service capability," he notes.
"These acquisitions greatly strengthen our presence in India through AMETEK Instruments India Private Limited (AIIPL), which we established earlier this year to further expand our Indian business and better serve our growing customer base in India," adds Mr. Hermance.
AIIPL provides a full range of pre- and post-sales support to AMETEK customers from a newly opened facility in Whitefield, Bangalore that includes instrument demonstration and training, a repair facility and workspace for sales, service and engineering employees.
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with 2008 sales of $2.5 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 our ability to consummate and successfully integrate future acquisitions; risks associated with international sales and operations; our 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: William J. Burke (610) 889-5249
SOURCE AMETEK, Inc.
http://www.ametek.com
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