AMETEK Terminates Planned Acquisition of Division of Dynamic Materials
20 October 1999
AMETEK Terminates Planned Acquisition of Division of Dynamic Materials CorporationPAOLI, Pa., Oct. 20 -- AMETEK, Inc. today announced that it has exercised its contractual right to terminate its planned acquisition of the Clad Metal Bonding Division of Dynamic Materials Corporation due to material adverse changes in the financial performance of the business and the failure by Dynamic Materials to satisfy certain conditions to close. AMETEK, Inc. is a global manufacturer of electric motors and electronic instruments. Its Specialty Metal Products Division is a leader in metal bonding technology as well as a producer of metal powder, strip, wire, and other technically advanced metallurgical products. CONTACT: William J. Burke, 610-889-5249, or James P. McKinley, 610-889-5234, both of AMETEK.