Precitech Acquired by Ametek – Precitech Press Release

Tuesday, November 7, 2006

Precitech Inc.; the Global Leaders of Ultra-precision machining technologies is pleased to announce that the company has been acquired by AMETEK Inc. (NYSE:AME).

AMETEK is a $1.8 billion global organization with over 10,000 employee’s world wide. Precitech will become part of their Electronic Instruments group (EIG) with annualized global sales exceeding $800million.

‘We’re very pleased with the acquisition of Precitech. This is a highly differentiated business, focusing on the most complex and critical machining requirement of its customers. It makes an outstanding addition to our high-end analytical instruments platform and is an excellent fit with our Taylor Hobson business,” comment of AMETEK Chairman and Chief Executive Officer Frank S. Hermance.

Precitech serves a global customer base from a state-of-the-art facility in Keene, NH. The company is one of only a handful of companies in the world that are able to commercially manufacture Ultra Precision machine tools capable of machining components to nanometric levels of accuracy. Its products are critical in the manufacture of infrared optical components used in military and space applications, lenses for consumer electronics such as DVD and CD players, optical films for large screen televisions, contact lens molds, micro-lenses and connectors for fiber optic telecommunication systems.

Precitech Business Unit Manager Mike Janish states; “We are all very excited to become part of such a well recognized high technology organization. AMETEK offers Precitech the opportunity to increase our global reach into new markets, specifically the Pacific Rim, by utilizing AMETEK’s established global sales and service organizations. I also see this as a great testament to the employees of this organization as they continue to push Ultra Precision technologies to new levels.”

For inquires please contact:
William J Burke
(610) 889 5249