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PAOLI, PA -- AMETEK, Inc. has acquired the assets of Rochester Instrument Systems (RiS), a leading supplier of measurement instrumentation for the electric power generation and distribution market.
The acquisition complements AMETEK¿s current product offering in the expanding market for power instrumentation and includes the power instrumentation product assets of a related company, Rochester Instrument Systems, Ltd. The acquired businesses had 1999 revenue of approximately $33 million and employ more than 200 people at its locations in the United States and the United Kingdom. Terms of the agreement were not disclosed.
Mr. Frank Hermance, AMETEK president and chief executive officer said, "Utility deregulation and continued worldwide investment in electrical power infrastructure will provide attractive growth opportunities for this business. We, therefore, are excited that RiS is now part of AMETEK. RiS is a natural fit with the Electronic Instrument Group¿s Power and Industrial unit, which serves the power generation market with a suite of instrumentation for gas turbines derived from our core aerospace technology.
"Together these businesses provide a broad array of instrumentation to serve the needs of this growing market. RiS will be managed as part of an expanded, and newly named, Aerospace and Power Instruments Division, reflecting the increased importance of the power generation market to AMETEK," added Mr. Hermance.
Rochester designs and manufactures a full line of power and process monitoring equipment, including power quality instruments, power transducers and meters, event and transient recorders, and annunciators and alarm monitoring systems. These instruments are used to measure, monitor and record variables in the generation and distribution of electric power.
AMETEK, Inc. is a New York Stock Exchange-listed company (ticker symbol: AME) and a leading global manufacturer of electronic instruments and electric motors with sales approaching $1 billion. For more information, contact AMETEK , Inc., 37 North Valley Road, Building 4, Paoli, PA 19302, U.S.A. Phone: 610-647-2121. Fax: 610-296-3412. Website: www.ametek.com
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