AMETEK Buys Global Tubes For About $200 Mln

(RTTNews) - AMETEK, Inc. (AME) said Friday that it has bought Global Tubes, a manufacturer of high precision, small diameter metal tubing, for about $200 million.

Global Tubes is comprised of two businesses: Fine Tubes, based in Plymouth, U.K., and Superior Tube, based in Collegeville, PA. The business has annual sales of about $120 million.

Global Tubes manufactures highly customized metal tubing from a wide variety of metals and alloys including stainless steel, nickel, zirconium and titanium. Their products are used in highly engineered applications serving the aerospace, energy, power generation and medical markets.

Global Tubes joins AMETEK as part of its Electromechanical Group (EMG) -- a differentiated supplier of electrical interconnects, precision motion control solutions, medical components, specialty metals, thermal management systems, and floor care and specialty motors.