AMETEK is the successor to several 19th Century New England manufacturers. It was incorporated as American Machine and Metals in 1930, when its stock was first listed on the New York Stock Exchange.
By the early 1950s, it had annual sales of more than $25 million and over 2,000 employees. In 1955, it acquired the Lamb Electric Motor Company—a leading builder of small electric appliance motors with a plant and headquarters in Kent, OH, and a second plant under construction in Cambridge, OH.
By 1959, the company had six manufacturing plants, all located in the eastern United States and annual sales of $50 million.
In 1961, the company was renamed AMETEK, Inc., to reflect its transition from a producer of machinery to a producer of technically advanced motors and instruments. By 1965, AMETEK had achieved $75 million in annual sales.
With a technology-oriented management, AMETEK developed a reputation through the 1970s and 80s for superior engineering and high-quality products. The company used its strong cash flow to complete 56 acquisitions between 1970 and 1988. Sales rose from $400 million in 1980 to nearly $700 million in 1988.
Between 1988 and 1990, AMETEK made several key acquisitions, including specialty metal products from Pfizer in 1988, General Electric’s aerospace instruments business in 1989, and three Italian motor operations in 1990 that provided AMETEK with a European motor manufacturing presence.
In 1997, AMETEK spun off its water filter business and refocused its businesses into two operating groups: Electronic Instruments and Electromechanical. Since the beginning of 1999, AMETEK has completed 15 acquisitions, enhancing positions in aerospace, elemental analysis, oil and gas production and refining, and power monitoring.
Most recently, AMETEK acquired SPECTRO Analytical Instruments, a leader in spectroscopy analysis; HCC Industries (“HCC”), producer of highly engineered hermetic connectors, terminals, headers and microelectronic packages; and Solartron, a leader in analytical instruments for the process, laboratory and other markets.
Among AMETEK’s latest product introductions are high-resolution radiation detectors for Homeland Security; aircraft engine and airframe sensors, state-of-the-art motor blowers for electronic cooling and environmental control; and sophisticated process analyzers and emissions monitors.
AMETEK today is a leader in advanced monitoring, testing, calibrating, and display instruments for process, aerospace and industrial markets and the world’s leading producer of high-speed, air-moving electric motors for floor care, aerospace, military, mass transit, business equipment and medical devices.
AMETEK achieved record sales, operating income, net income, diluted earnings per share and operating cash flow in 2004 and expects to achieve record full-year results again in 2005.