AMETEK, Inc. (NYSE: AME) today announced that it has completed the acquisition of Laserage Technology Corporation, a leading provider of laser fabrication services for the medical device market. Laserage is a privately held company with headquarters and manufacturing operations in Waukegan, IL, and a manufacturing facility in Milipitas, CA. Laserage has estimated annual sales of $22 million.
"Laserage is an excellent addition to our growing presence in the medical industry. Its fabrication and manufacturing capabilities are an excellent fit with our engineered medical components business providing strong market and technology synergies," comments David A. Zapico, AMETEK Chief Executive Officer.
Laserage offers precision tube fabrication of minimally invasive surgical devices, stents and catheter-based delivery systems. Its expertise includes laser fabrication of flat stock and tube for medical devices and specialty catheters.
Laserage joins AMETEK as part of its Electromechanical Group (EMG) -- a differentiated supplier of electrical interconnects, precision motion control solutions, medical components, specialty metals, thermal management systems, and floor care and specialty motors.
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.