AMETEK INC/ false 0001037868 0001037868 2020-03-23 2020-03-23

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 23, 2020

 

AMETEK, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware

 

1-12981

 

14-1682544

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

1100 Cassatt Road,

Berwyn, Pennsylvania

 

19312

(Address of principal executive offices)

 

(Zip Code)

Registrant’s telephone number, including area code: (610) 647-2121

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading

symbol(s)

 

Name of each exchange

on which registered

Common Stock, $0.01 Par Value (voting)

 

AME

 

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

Item 8.01 Other Events.

On March 23, 2020, AMETEK, Inc. issued a press release announcing that it has completed the sale of its Reading Alloys business to Kymera International. A copy of the release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit
No.

   

Description

         
 

99.1

   

Press release, dated March 23, 2020, “AMETEK Completes Sale of Reading Alloys to Kymera International”.

         
 

104

   

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

AMETEK, Inc.

             

March 23, 2020

 

 

By:

 

/s/ THOMAS M. MONTGOMERY

 

 

Name:

 

Thomas M. Montgomery

 

 

Title:

 

Senior Vice President - Comptroller

Exhibit 99.1

 

LOGO

AMETEK Completes Sale of Reading Alloys to Kymera International

BERWYN, PA, March 23, 2020 – AMETEK, Inc. (NYSE: AME) today announced that it has completed the sale of its Reading Alloys business to Kymera International, a leading specialty materials company that is owned by affiliates of Palladium Equity Partners, LLC.

“This transaction completes our recent strategic portfolio review process and further strengthens our already strong balance sheet, which supports our capital deployment efforts,” said David A. Zapico, AMETEK Chairman and Chief Executive Officer. “We wish Reading Alloys continued success and thank the team for their tremendous efforts through this process.”

Based in Robesonia, Pennsylvania, Reading Alloys has annual sales of approximately $160 million and was sold for $250 million in an all-cash transaction.

About AMETEK

AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annual sales of approximately $5.0 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. 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.

About Kymera International

Kymera International can trace its roots back to the late 1800’s and today is a market leading specialty materials company focused on non-ferrous powders, granules, and pastes including aluminum, copper, tin and their alloys. The Company sells its technically developed products into a wide array of end markets, including aerospace, additive manufacturing, chemical, specialty auto and numerous industrial applications. Kymera International has manufacturing facilities in the U.S., Australia, Europe, and Asia. Additional information available at www.kymerainternational.com.

Contact:

AMETEK, Inc.

Kevin Coleman, Vice President, Investor Relations

kevin.coleman@ametek.com

Phone: 610.889.5247

 

LOGO