AMETEK Acquires Muirhead AerospaceNovember 5, 2008
The move expands AMETEK's penetration in motion control products for the aerospace and defense markets and strengthens its position as a leading independent provider of MRO services to the European aviation industry.
PAOLI, PA /BUSINESS WIRE/ -- AMETEK Inc. announced the acquisition of U.K.-based, Muirhead Aerospace Ltd., a leading manufacturer of motion technology products and a provider of avionics repair and overhaul services for the aerospace and defense markets. Muirhead Aerospace is a subsidiary of Esterline Technologies Corp., a NYSE-listed company, and has estimated 2008 sales of approximately $54 million.
"Muirhead Aerospace expands AMETEK's penetration in motion control products for the aerospace and defense markets, including actuators and other specialized linear motors, complementing our existing technical motor capabilities. Muirhead Aerospace's motion control products are used in many applications, including fuel controls, flight controls, power systems, and guidance systems on a wide variety of aircraft, land vehicles, ships, and missiles," notes Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
"Additionally, Muirhead Aerospace further strengthens AMETEK's position as a leading independent provider of MRO services to the European aviation industry. It provides avionics repair services to a wide variety of commercial, business jet, and defense customers," adds Mr. Hermance.
Muirhead Aerospace joins AMETEK within its Aerospace & Defense Division, which is a leading supplier of engine and aircraft sensors and monitoring systems; data acquisition units; fuel and fluid measurement systems; cables and harness assemblies; solid-state power distribution products; avionics blowers and fans; heat transfer and cooling systems; and maintenance, repair, and overhaul services.
AMETEK Inc. is a leading global manufacturer of electronic instruments and electromechanical devices, with annualized sales of $2.5 billion. AMETEK's corporate growth plan is based on four key strategies: operational excellence, strategic acquisitions and alliances, global and 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.
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