Ametek

from Wikipedia, the free encyclopedia
AMETEK, Inc.

logo
legal form Corporation
ISIN US0311001004
Seat Berwyn , Pennsylvania , United States
management
Number of employees 15,700
sales 3.84 billion US dollars
Branch Electrical engineering
Website www.ametek.com
As of December 31, 2016

Ametek, Inc. ( proper spelling : AMETEK ) is an American manufacturer of electronic and electromechanical instruments with over 150 locations worldwide. The shares of the corporation , headquartered in Berwyn , Pennsylvania in the United States, are on the New York Stock Exchange traded and the company is in both the S & P 500 as the Russell 1000 listed.

The company was originally registered in the state of Delaware as American Machine and Metals, Inc. in 1930 and did not get its current name until the 1960s. With the name change, the change in the business, which had initially taken place from heavy machinery and mining equipment to analysis equipment and precision tools, should become more visible.

Today's group consists of the two corporate groups "Electronic Instruments Group" (EIG) and "Electromechanical Instruments Group" (EMG), which, with numerous subsidiaries, produce analysis and measuring devices, electric motors, pumps and special tools under more than one hundred different brand names. The range is expanded through our own research, but also largely through products that have already been introduced from highly specialized, mostly small or medium-sized companies, which the group acquires every year through takeovers or joint ventures and integrates them into its structures.

history

It was preceded by the older Manhattan Electric Supply Company from New York , which however fell into bankruptcy just a few months after the severe stock market crash on October 24, 1929 . The shareholders thereupon decided to found a new company in which the previous Manhattan business should go up. The new company was registered in the state of Delaware in 1930 as American Machine and Metals, Inc. and was soon traded on the New York Stock Exchange under the acronym AME .

American Machine and Metals, Inc. or AME

In the years that followed, the stock exchange abbreviation AME was the abbreviation for the stock corporation, which was often used outside the stock exchange and was made up of several different companies from the start. Initially, it consisted primarily of Troy Laundry Machinery from East Moline , Illinois , Haliwell Electric in New York and the Trout Mining Company from Phillipsburg , Montana . As the central group maintained offices at Wall Street , New York, and she succeeded by Philip G. Mumford its first president, another year of the Great Depression to survive despite red numbers quite well.

The planned merger with the crisis-ridden Manhattan Electric Supply Company was abandoned at the end of 1931. The Manhattan business was sold and instead, AME expanded with the New York-based Tolhurst Machine Works of Troy , which had made a small profit despite the general crisis in 1931. In 1932, the worst year of the recession, the company as a whole also managed to close with a small profit, which grew very quickly with the New Deal from 1933 onwards. As early as 1935, the company saw itself in a position to pay its investors an initial dividend . Probably because it was born during a crisis, the company demonstrated its social responsibility towards its 900 employees with numerous bonus and incentive payments.

In 1939, with the outbreak of World War II in Europe, the East Moline division met government requirements for operations capable of rapidly converting to the manufacture of essential military equipment. As a precaution in the event of the United States entering the war, AME prepared itself to equip ship laundries and produce fans for tanks. By the end of the war, AME had not only grown many times over, but had also incorporated a number of other products into its production, such as centrifuges in particular , which played their part in meeting the United States Army's massively increased demand for medicinal substances especially penicillins and sulfonamides , could be satisfied via advances in production technology. The substantial profits made during the war years were ultimately invested in a purchase. Against payment of 3 million US dollars in cash took AME in 1944, the United States Gauge Company in New York.

From 1945, in the post-war period, business initially fell sharply and in 1948 Mumford resigned as president of the company. His successor was John C. Vander Pyl, who was able to put AME back on its growth path in the face of increasing demand as a result of the Cold War . Measured against the American industrial giants of the 1950s, AME was still very small, only reaching about $ 30 million in sales in 1955. The profits and their distribution as dividends climbed continuously, so that the decision was made to take over again and acquired Lamb Electric, formerly Domestic Electric , for 34 million US dollars , which soon became the focus of the company's business. Up until the early 1960s, there was a change from initially technically rather simple machines to increasingly complex products. The company had withdrawn from mining equipment in 1958 when the Trout Mining Company was sold. The shareholders therefore decided to express the change and change the name of the company.

AMETEK, Inc.

The company was now considered , AMETEK Inc. entered. A name that allowed the company to keep the ticker symbol AME . This was followed by expansion through new production facilities, including being one of the first manufacturers of air conditioning systems, but also through further takeovers. In 1965, Ametek acquired laboratory equipment specialist Mansfield and Green, Inc. The company's new president, John H. Lux, from 1966, introduced new management methods to encourage executives to better understand their people and businesses. It is reported that the increased morale of the employees "revitalized the company" and contributed to the rapid growth that followed.

In 1967 Ametek expanded its product range to include water filters after taking over Plymouth Producs . A little later, through Lamb Electric , Ametek became a manufacturer of motors for copiers and printers. By 1980 sales rose to $ 400 million. With the takeover of Haveg Corp. Ametek strengthened itself in the same year with a manufacturer of chemical products. In 1983 the company first appeared on the Fortune 500 ranking of the American business magazine Fortune .

In 1988 the group of companies was extensively restructured. Various companies with slower growth, which were not part of the new central business areas, were either given up or sold. Among other things, an agreement was reached with General Electric (GE) in 1989 to swap production facilities. Ametek received an electronic components plant with 1,100 employees and a service workshop with 50 employees near Seattle . GE received a US $ 110 million payment from Ametek and a plastic factory in Tennessee . The long-time company president Robert L. Noland left the group to take over the management of the companies spun off from Ametek. John P. Dandalides succeeded him as the new President at Ametek. Around the same time, Ametek was charged. She was accused of providing false information to the government and was said to have recently issued significantly inflated bills for sonar systems that she had been supplying for American submarines since the 1970s. An employee of the company had started the case in 1987 under the False Claims Act, also known as the " whistle-blower act" or "Licoln Law" , which enabled him to report fraudulent behavior to the authorities and a percentage of the compensation for this should the company be ordered to pay. The matter was actually the Straza division in El Cajon , California , which in the meantime belonged to the Ketema, Inc. spin-off run by Robert Noland , whose name, like Ametek, had only been formed backwards. But since the sonar business was no longer carried out there either, Ametek was finally sentenced in 1990 to a fine of 110,000 US dollars and under civil law to pay a further 5.1 million US dollars.

The business of the newly established AMETEK, Inc. based in Paoli , Pennsylvania consisted primarily of the three units: "Electro-mechanical", "Precision Instruments" and "Industrial Materials". Ametek also expanded internationally. After Walter E. Blankley took over the management as chairperson and CEO, Ametek had 33 manufacturing companies in 1993, including some abroad. Export contributed about 25 percent to sales. Shortly before, Ametek had taken over three Italian manufacturers of electric motors and established a foothold in Europe.

Further development

(a selection of product and company takeovers in recent years)

  • 1962 The "Model 400", a lighting technology analyzer, was sold commercially for the first time.
  • 1986 Ametek acquires the mass spectrometer technology from Dycor.
  • 1998 Ametek acquires the UV technology from Western Research.
  • 2002 Ametek PI and Thermox merge
  • 2005 Acquisition of the worldwide leading OES manufacturer Spectro Analytical Instruments GmbH in Kleve
  • In 2010, the French company Cameca , a manufacturer of secondary ion mass spectrometers and microprobes , was taken over.
  • In 2012 Dunkermotoren was acquired.
  • In 2013 the company Creaform, a Canadian manufacturer of 3D hand-held scanners, was acquired.
  • In 2014 the German Luphos GmbH was taken over and integrated into the Taylor Hobson division.
  • In 2014 the Zygo Corporation, a manufacturer of optical measurement technology, was also acquired.
  • In 2015, Surface Vision was acquired by Cognex.
  • In 2016 Brookfield, a manufacturer of viscometers, was acquired.

Products

According to the company's website, in 2017 products will be offered in the following areas:

  • Aerospace & Defense
  • Technical materials
  • Heavy Duty Vehicles and OEM Products
  • Industrial products
  • Material analysis and image processing
  • medicine
  • Motors / motion controls
  • Oil, gas and electricity
  • Process measuring devices
  • Testing and measuring

Ametek in Germany

Ametek is represented at twelve locations in Germany . Seven of them belong to Ametek GmbH , based in Meerbusch, and act as sales and service organizations. The locations Weiterstadt and Ottendorf-Okrilla form Ametek Germany GmbH .

In addition, the subsidiaries Spectro Analytical Instruments GmbH in Kleve , Dunkermotoren GmbH in Bonndorf , MicroPoise Measurement Systems Europe GmbH in Lübeck and Ametek CTS Germany GmbH in Kamen belong to the group.

The Ametek GmbH has beginning of the year 2017 the following divisions:

  • "Cameca" and "Reichert Instruments" at the Unterschleißheim location .
  • "Creaform Germany" at the Leinfelden-Echterdingen location
  • “Brookfield” at the Lorch location
  • “Haydon Kerk Motion” at the Lauf location
  • "Surface Vision" at the Karlsruhe location
  • "Taylor Hobson", "Edax", "Programmable Power" and "Luphos" at the Weiterstadt location (Weiterstadt Park) + Zygo division of Ametek Germany GmbH
  • "Advance Measurement Technologies" (AMT), "Process and Analytical Instruments" (P&AI), "Land Instruments", "Technical Manufacturing Corporation" (TMC), "Measurement and Calibration Technologies" (M&CT), "Vision Research", " Precitech ”and“ Solartron Metrology ”at the Meerbusch site .

Production takes place in Germany at Spectro Analytical Instruments GmbH in Kleve and at Ametek Germany GmbH in the “Rheotec” division in Ottendorf-Okrilla near Dresden.

literature

  • International Directory of Company Histories , Volume 9. St. James Press, 1994

Web links

Individual evidence

  1. ↑ a b 2016 Annual Report (PDF; 3.1 MB), Annual Report on the company's website, accessed on April 11, 2017 (English)
  2. ↑ a b c d e f g AMETEK, Inc. History on fundinguniverse.com , taken from International Directory of Company Histories , Volume 9. St. James Press 1994 (English)
  3. ↑ Company Overview ( Memento from April 24, 2017 in the Internet Archive ), on the website of the group subsidiary AMETEK Fluoropolymer Products , accessed on April 12, 2017
  4. ↑ Associated Press: COMPANY NEWS; GE Agrees to Sell Electronics Plant . In: The New York Times , June 6, 1989, accessed April 12, 2017.
  5. ^ Daniel C. Cuff: BUSINESS PEOPLE; Ametek Picks a Chief After a Realignment . in: The New York Times , January 29, 1990, accessed April 12, 2017
  6. ^ A b Michael Lev: Company News; Guilty Plea On Billing By Ametek . In: The New York Times , July 31, 1990, accessed April 12, 2017.
  7. ↑ AMETEK. In: Website of AMETEK GmbH. Retrieved April 12, 2017 .