Ametek Registered for Penn Engineering Motion Technologies

Ametek Inc. acquired Penn Engineering Motion Technologies, a unit of Penn Engineering and Manufacturing Corp. for $64 million. PMT, composed of the Pittman and M.A.E. SpA business units, designs and manufactures motors for medical, electronic, factory automation and aviation markets and has annual sales of $55 million. "Our acquisition of PMT broadens the geographic reach of our technical motor business and further strengthens our relationship with key industry OEMs. In addition, PMT's hybrid stepper and brush-computed DC servo motors expand our product offering in several highly specialized market applications," says Frank S. Hermance, Ametek's chairman and CEO.