Mark IV Announces Sale of Gulton-Statham Transducer, Inc.

4 May 1999

Mark IV Announces Sale of Gulton-Statham Transducer, Inc.

    AMHERST, N.Y.--May 3, 1999--Mark IV Industries, Inc. announced today that it has sold its Gulton-Statham Division for $23 million in cash to Ametek, Inc. The business being sold has annual sales of $25 million.
    Gulton-Statham, Inc. is a supplier of pressure measurement transducers for use in commercial aviation, aerospace and corrosive process markets.
    Sal H. Alfiero, chairman and chief executive officer of Mark IV, said "the proceeds of the sale will be used to reduce outstanding debt. He further indicated that the sale of Gulton-Statham, a non-core business, is part of our continuing program to reduce the company's asset base by disposing of non-core businesses, reducing working capital and the elimination of underperforming assets."
    Mark IV Industries, Inc. is a $2.2 billion global manufacturing company headquartered in the Buffalo suburb of Amherst, New York, employing 17,000 people worldwide. The company's core technologies include power transmission, fluid transfer and speciality filtration systems and components for global industrial and automotive markets. For more information on Mark IV, visit the company's web site at http://www.mark-iv.com.