Contact:  James McKinley (610) 889-5234 

PAOLI, PA, -- AMETEK, Inc. has acquired Chandler Instruments Company, LLC, a leading manufacturer of high-quality measurement instrumentation for the oil and gas industry, for approximately $50 million.  With its headquarters in Tulsa, OK, Chandler has expected 2003 sales of approximately $30 million.   

“We are very pleased with our acquisition of Chandler Instruments. This acquisition further expands our high-end analytical instrument platform, building on a set of differentiated, higher-growth businesses that now total nearly $180 million in revenue,” comments AMETEK Chairman and Chief Executive Officer Frank S. Hermance.    

“Chandler adds to AMETEK’s strong presence in the oil and gas industry by expanding into upstream drilling and completion instruments and extends our product offering in downstream markets, adding new technologies and customers,” he adds.

Chandler Instruments designs and manufactures products through two operating companies: Chandler Engineering and Grabner Instruments.  Chandler Engineering focuses on the upstream markets of oil and gas exploration and production, selling to many of the world’s leading integrated petroleum and oil services companies.  It produces instruments for the drilling and completion market as well as instrumentation for production enhancement, reservoir development, and pipeline transmission.  

Grabner Instruments, based in Austria, is a leader in the design and manufacture of test instruments for analyzing fuels and other liquids.  Products include vapor pressure measurement instruments, flash point analyzers and spectrometers.  These products are focused on downstream petroleum refining and distribution markets as well as the fragrance, flavors and paint markets.

Chandler Instruments joins AMETEK as part of its Electronic Instruments Group (EIG) --a recognized leader in advanced monitoring, testing, calibrating and display instruments.  AMETEK EIG sells its instruments to the process, aerospace, power, and industrial markets worldwide and had 2002 sales of approximately $540 million.  

AMETEK (NYSE:AME) is a leading global manufacturer of electronic instruments and electric motors with annual sales of more than $1 billion.