AMETEK Names Giovanni Scirea as Vice President of AMETEK Italia
11 June 1998
AMETEK Names Giovanni Scirea as Vice President of AMETEK ItaliaPAOLI, Pa., June 11 -- AMETEK Inc. today announced that it has named Mr. Giovanni Scirea as a Vice President. He remains as the Managing Director of AMETEK Italia electric motor operations and continues to report to Edward G. Kramer, Vice President for International Operations for AMETEK's Electromechanical Group. "We are pleased to recognize Giovanni's many accomplishments with this promotion," said Frank S. Hermance, president and chief operating officer. "His extensive general management experience and total commitment to our growth strategies have moved AMETEK forward in its global success." Mr. Scirea joined the Company in 1990 when AMETEK acquired the OEP and Ciaramella electric motor operations, based near Milan, Italy, from him. His leadership has enabled AMETEK to establish the No. 1 market position in the European electric motor markets that it serves. More recently, he completed the acquisition of NEMS, a German motor manufacturer, and the successful startup of a new motor plant in the Czech Republic, enhancing AMETEK's production flexibility, marketing, and "best cost" strategies. AMETEK's three motor plants near Milan and the two plants noted above are an important foundation for its future growth, which includes global outsourcing for AMETEK's electric motor customers. The markets served include floorcare, outdoor power equipment, and consumer products. AMETEK is a leading global manufacturer of electric motors and electronic instruments with sales approaching $1 billion. Its Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, New Products, Strategic Acquisitions & Joint Ventures, and Global & Market Expansion. Its objective is double-digit earnings per share growth with a superior return on total capital.