Ametek acquires Reading Alloys
Ametek, Inc., has acquired Reading Alloys, a privately held, niche specialty metals producer. With annual sales of approximately $80 million, Robesonia, Pa.-based, Reading Alloys is a global leader in specialty titanium master alloys and highly engineered metal powders used in the aerospace, medical implant, military and electronics markets.
Reading Alloys is an excellent acquisition. Its titanium master alloys are experiencing outstanding growth driven by increasing demand for titanium in the commercial aerospace, military aerospace and power generation markets, comments Frank S. Hermance, AMETEK chairman and chief executive officer.
Reading Alloys titanium powders expand our position in customized titanium products, adding to our capabilities in strip and foil products used in medical devices, electronic components and aerospace instruments. As well, Reading Alloys metal powder production techniques complement our existing gas and water atomization capabilities, adds Mr. Hermance.
Reading Alloys is another example of our strategy to pursue attractive growth opportunities in highly engineered materials within our Electromechanical Group. These highly differentiated businesses offer excellent growth and profitability and have been a key factor in our strong financial performance, noted Mr. Hermance.
Reading Alloys joins Ametek as part of its Electromechanical Group (EMG). In addition to specialty metal products, EMG is a leader in electrical interconnects, microelectronic packaging, technical motors and systems, and electric motors for floor care and other applications. EMG had 2007 sales of approximately $937 million.