BERWYN, Pa., April 28, 2011 /PRNewswire/ — AMETEK, Inc. (NYSE:
AME) today announced that it has acquired Avicenna Technology,
Inc., a privately held supplier of custom, fine-featured components
used in the medical device industry. Avicenna Technology with
its headquarters and manufacturing operations in Montevideo, MN,
has annual sales of approximately $25 million.
“Avicenna adds to our growing portfolio of businesses that serve
the highly attractive medical device market and is an excellent fit
with our Technical Services for Electronics (TSE) business,
acquired in 2010,” notes Frank S. Hermance, AMETEK Chairman and
Chief Executive Officer.
“Avicenna provides us with additional expertise in producing
fine-featured catheter and other medical components for leads,
guide wires and custom medical assemblies. Combined with our TSE
business, Avicenna positions AMETEK as the only medical
interconnects provider with integrated capabilities for the
catheter, cardiac and neurostimulation markets,” adds Mr.
Avicenna Technology joins AMETEK’s Engineered Materials,
Interconnects and Packaging, (EMIP) Division, which manufactures
highly engineered electronic interconnects and microelectronic
packaging for a wide range of electronics applications. EMIP is a
division within AMETEK’s Electromechanical Group–a differentiated
supplier of electrical interconnects, specialty metals, technical
motors, floor care motors and specialty motors with annualized
sales of $1.3 billion.
AMETEK is a leading global manufacturer of electronic
instruments and electro-mechanical devices with annualized sales of
$2.9 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 percenta