BERWYN, Pa., Feb. 13, 2019 /PRNewswire/ -- AMETEK, Inc. (NYSE:
AME) today announced that its Board of Directors has increased the
authorized level for repurchases of its common stock by
$500 million.
This increased authorization will be added to the approximately
$1 million that currently remains
available from an existing authorization approved by the Board of
Directors in November 2016.
"While strategic acquisitions remain the primary use for our
strong free cash flow, this increased authorization provides us
with added flexibility to enhance shareholder value through
opportunistic repurchases of our common stock," commented
David A. Zapico, AMETEK Chairman and
Chief Executive Officer.
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electromechanical
devices with sales of approximately $5.0
billion. AMETEK's growth model 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.
Contact:
AMETEK, Inc.
Kevin Coleman
Vice President, Investor Relations
1100 Cassatt Road
Berwyn, Pennsylvania 19312
kevin.coleman@ametek.com
Phone: 610.889.5247
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SOURCE AMETEK, Inc.