AMETEK Enhances Management Resources to Accelerate Growth
5 October 1999
AMETEK Enhances Management Resources to Accelerate Growth of Its Electronic Instruments Group
Group to be Managed as Two Businesses: Aerospace and Heavy-Vehicle Products
Business and Process and Industrial Products Business;
Robert W. Chlebek to Be President - Aerospace and Heavy-Vehicle Products;
Thomas F. Mangold, Jr. to Be President - Process and Industrial Products
PAOLI, Pa., Oct. 5 -- AMETEK, Inc. today
announced that to further capitalize on the strong growth potential of its
Electronic Instruments Group, the Group will be managed as two businesses -
the Aerospace and Heavy-Vehicle Products business and the Process and
Industrial Products business. Accordingly, Robert W. Chlebek, who now heads
the Electronic Instruments Group, will become President of the Aerospace and
Heavy-Vehicle Products business and Thomas F. Mangold, Jr., an AMETEK Vice
President, will become President of the Process and Industrial Products
business.
Frank Hermance, AMETEK's President and Chief Executive Officer, stated,
"Both the Aerospace and Heavy-Vehicle Products and the Process and Industrial
Products businesses of the Electronic Instruments Group have grown to a size
where it makes strategic sense to provide them with the appropriate direct
management leadership. By expanding the management responsibilities within
the Group, these two operations now will have in place the best management
expertise to guide their growth.
"Bob Chlebek and Tom Mangold are talented professionals who are
well-experienced in these lines of business. Under Bob's leadership, the
Electronic Instruments Group has grown rapidly with revenues increasing from
$390 million in 1997 to an annualized rate of approximately $500 million in
1999. The Group is well positioned to achieve substantial growth, both
internally and through acquisitions. By managing the Group as two market-
focused businesses, we will enhance AMETEK's ability to take advantage of
growth opportunities," noted Mr. Hermance.
Mr. Chlebek joined AMETEK in 1997 as President -- Electronic Instruments
Group. Prior to joining AMETEK, Mr. Chlebek held several general management
positions at Phillips N.V., the most recent of which was president of Phillips
Components North America. He earned an MBA in management from Bryant College
and holds a B.S. in mathematics and chemistry from the University of
Massachusetts.
Mr. Mangold joined AMETEK in 1973 as controller for the company's
Westchester Plastics division and in 1979 was named controller of AMETEK's
Lamb Electric division. In 1986, Mr. Mangold was appointed general manager of
the Process and Analytical Instruments Division and in 1988 he was elected a
Vice President of the company. Mr. Mangold holds both a B.A. degree in
Biological Sciences and an MBA degree from the University of Delaware.
AMETEK is a leading global manufacturer of electric motors and electronic
instruments. AMETEK's Corporate Growth Plan is based on Four Key Strategies:
Operational Excellence, New Products, Global & Market Expansion and Strategic
Acquisitions & Alliances. Its objective is double-digit percentage growth in
earnings per share from continuing operations and a superior return on total
capital. The common stock of AMETEK is a component of the S&P MidCap
400 index and the Russell 2000 Growth Index.
For more information, contact William J. Burke, 610-889-5249, or James P.
McKinley, 610-889-5234, both of AMETEK.