BERWYN, Pa., Jan. 2, 2013 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced that it has completed two technology-related acquisitions:
- Sunpower, Inc., a privately held leader in the development of stirling cycle cryocoolers and externally heated stirling engine technology for medical, scientific, telecommunication and space applications
- Crystal Engineering, a privately held manufacturer of high-end, portable pressure calibrators and digital test gauges for the oil and gas, power generation and other industrial markets
"Both Sunpower and Crystal Engineering are excellent acquisitions that provide us with the opportunity to bring key technologies in-house. These technologies will allow us to develop the next-generation of advanced radiation detection and pressure calibration instruments," comments Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
Headquartered in Athens, OH, Sunpower designs and develops high reliability cryocoolers and externally heated Stirling cycle engines. Its cryocoolers are used to lower temperatures below -150 degrees C without the use of expensive liquid nitrogen, while its heat engines are used in micro co-generation (heat and power) devices."Sunpower's cryogenic cooling technology provides a critical enabling technology for use in our highly successful ORTEC Detective® family of portable radiation identifiers. It provides a platform to support the continued growth of this product family while providing us with opportunities to broaden the application of cryogenic cooling and Stirling heat engine technology," adds Mr. Hermance. Sunpower becomes part of AMETEK Advanced Measurement Technology (AMT), a division of AMETEK's Electronic Instruments Group -- a recognized leader in advanced monitoring, testing, calibrating and display instruments with annualized sales of $1.9 billion. Crystal Engineering Headquartered in San Luis Obispo, CA, Crystal Engineering has high-end pressure measurement technology and manufactures high-end portable digital pressure calibrators and digital test gauges that fit well with AMETEK's JOFRA® temperature and pressure calibrators. "We share common products and markets with Crystal Engineering. It strengthens our technology and product offering in the calibration instruments market. Crystal's products broaden our line of high-end temperature and pressure calibration instruments, while its product line benefits from the global reach and resources of our Electronic Instruments Group," concludes Mr. Hermance.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts