AMETEK Acquires Creaform, Inc.
--Leading Developer of Innovative Portable 3D Measurement Technologies--
BERWYN, Pa., Oct. 29, 2013
BERWYN, Pa., Oct. 29, 2013 /PRNewswire/ --AMETEK, Inc. (NYSE: AME) today
announced that it has acquired Creaform, Inc., a leading developer and
manufacturer of innovative portable 3D measurement technologies and a provider
of 3D engineering services for approximately $120 million. Based near Quebec
City, Canada, the privately held company has annual sales of approximately $52
Creaform is the industry leader in stand-alone portable 3D scanners. These
optical devices are used in a growing number of applications to create
accurate 3D models and measurements of a wide range of objects. Its products
include several families of handheld 3D scanners, portable coordinate
measuring machines and related accessories that are widely used in reverse
engineering, dimensional inspection, precision manufacturing, non-destructive
testing, automated quality control and 3D printing. The Handyscan 3D, a
handheld laser scanner used to perform non-contact measurement, leads the
market in capability and portability.
"Creaform is an outstanding acquisition. It has an impressive R&D base and an
industry-leading position across a number of high growth market applications.
Creaform significantly expands the range of non-contact metrology products
offered by our Ultra Precision Technology business," comments Frank S.
Hermance, AMETEK Chairman and Chief Executive Officer.
"Creaform's innovative, optically-based product line and excellent customer
base will expand our metrology sales into attractive segments closely adjacent
to those of our existing Taylor Hobson and Solartron Metrology businesses," he
Creaform has its headquarters and manufacturing operations in Levis, Quebec.
It operates innovation centers in Levis and Grenoble, France, and has direct
sales operations in the United States, France, Germany, China, Japan and
India. It joins AMETEK as part of its Electronic Instruments Group (EIG) -- a
recognized leader in advanced monitoring, testing, calibrating, and display
instruments with 2012 sales of $1.9 billion.
AMETEK is a leading global manufacturer of electronic instruments and
electro-mechanical devices with annualized sales of $3.6 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 percentage growth in earnings per
share over the business cycle and a superior return on total capital. The
common stock of AMETEK is a component of the S&P 500 Index.
Statements in this news release relating to future events, such as AMETEK's
expected business and financial performance are "forward-looking statements."
Forward-looking statements are subject to various factors and uncertainties
that may cause actual results to differ significantly from expectations. These
factors and uncertainties include AMETEK's ability to consummate and
successfully integrate future acquisitions; risks associated with
international sales and operations; AMETEK's ability to successfully develop
new products, open new facilities or transfer product lines; the price and
availability of raw materials; compliance with government regulations,
including environmental regulations; changes in the competitive environment or
the effects of competition in our markets; the ability to maintain adequate
liquidity and financing sources; and general economic conditions affecting the
industries we serve. A detailed discussion of these and other factors that
may affect our future results is contained in AMETEK's filings with the U.S.
Securities and Exchange Commission, including its most recent reports on Form
10-K, 10-Q and 8-K. AMETEK disclaims any intention or obligation to update or
revise any forward-looking statements.
Contact: Kevin C. Coleman (610) 889-5247
SOURCE AMETEK, Inc.
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