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AMETEK Sales Up 6% in 2019

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https://www.mdm.com/articles/40737-ametek-sales-up-6-in-2019

AMETEK Inc., Paoli, Pennsylvania, a global manufacturer of electronic instruments and electromechanical devices, reported sales for 2019 of $5.2 billion, up 6% over 2018. Profit increased 10.8% to $861.3 billion.

For the fourth quarter, the company reported sales of $1.3 billion, up 3% from the same period of 2018. Profit was $220.8 million.

The company also announced that is has acquired IntelliPower, a leading provider of high-reliability, ruggedized uninterruptible power systems serving a wide range of defense and industrial applications.

IntelliPower designs and manufactures a broad portfolio of ruggedized solutions including uninterruptible power systems, external battery packs, power distribution units and power conditioners. These products protect mission-critical applications by utilizing high-efficiency, power-switching technology which can be remotely monitored and managed.

“IntelliPower is an excellent acquisition for AMETEK and is a highly complementary fit with our Power Systems and Instruments Division,” comments David A. Zapico, AMETEK chairman and CEO. “IntelliPower is a market leader in ruggedized uninterruptible power solutions and broadens our technological capabilities in this attractive market segment.”      

IntelliPower is headquartered in Orange, California. The company has annual sales of approximately $40 million and was acquired for approximately $115 million. IntelliPower joins AMETEK as part of its Electronic Instruments Group (EIG) – a leader in advanced analytical, monitoring, testing, calibrating and display instrumentation.

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