BERWYN, Pa. and MINNEAPOLIS, June 22,
2017 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today
announced that it has completed its acquisition of MOCON, Inc.
(NASDAQ: MOCO) for $30 per share in
cash per fully diluted common share, or approximately $182 million net of cash acquired. The completion
of the transaction follows approval from MOCON shareholders and the
receipt of all regulatory approvals. As a result of the completion
of the merger, the common stock of MOCON will no longer be listed
for trading.
"We are pleased to have MOCON's team join the AMETEK family,"
said David A. Zapico, AMETEK Chief
Executive Officer. "As the global leader in gas analysis
instrumentation for package and permeation testing, MOCON helps us
expand our gas analysis instrumentation business in the growing
food and pharmaceutical packaging markets."
MOCON joins AMETEK as part of its Process & Analytical
Instruments Division within AMETEK's Electronic Instruments Group.
MOCON is a leading provider of detectors, instruments, systems and
consulting services to research laboratories, production
facilities, and quality control and safety departments in the
medical, pharmaceutical, food and beverage, packaging,
environmental, oil and gas and other industries worldwide. For the
calendar year ended December 31,
2016, MOCON had sales of approximately $63 million.
AMETEK Profile
AMETEK is a leading global
manufacturer of electronic instruments and electro-mechanical
devices with annual sales of approximately $4.0 billion. AMETEK's Corporate Growth Plan
is based on Four Key Strategies: Operational Excellence, Strategic
Acquisitions, Global & Market Expansion and New Products.
AMETEK's objective is double-digit percentage growth in
earnings per share over the business cycle and a superior return on
total capital. The common stock of AMETEK is a component
of the S&P 500 Index.
Contact: Kevin Coleman +1
610-889-5247
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SOURCE AMETEK, Inc.