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    AMETEK Inc (AME)

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    Business Description

    AMETEK, Inc. is a leading global manufacturer specializing in electronic instruments and electromechanical devices, operating through two main segments: the Electronic Instruments Group (EIG) and the Electromechanical Group (EMG) . The company provides advanced analytical, test, and measurement instruments for various markets, including process, aerospace, medical, power, and industrial sectors . AMETEK's offerings include highly engineered medical components, automation solutions, thermal management systems, and specialty metals .

    1. Electronic Instruments Group (EIG) - Develops advanced analytical, test, and measurement instruments for process, aerospace, medical, power, and industrial markets.

      • Process and Analytical Instrumentation - Offers instruments for process and analytical applications across various industries.
      • Aerospace and Power Instrumentation - Provides specialized instruments for aerospace and power sectors.

    2. Electromechanical Group (EMG) - Focuses on highly engineered medical components, automation solutions, thermal management systems, and specialty metals.

      • Automation and Engineered Solutions - Delivers automation solutions and engineered products for diverse applications.
      • Aerospace Products - Supplies aerospace products tailored to meet specific industry needs.

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    Executive Team

    NamePositionStart DateShort Bio
    David A. ZapicoChairman and Chief Executive Officer2017David A. Zapico has been serving as the Chairman and CEO since 2017. He has 34 years of experience in the industry and with AMETEK .
    William J. BurkeExecutive Vice President–Chief Financial OfficerMay 15, 2016William J. Burke has served as the CFO since May 15, 2016 and has over 36 years of service with AMETEK. He will retire on April 2, 2024 .
    Ronald J. OscherChief Administrative OfficerMay 5, 2016Ronald J. Oscher was elected as the Chief Administrative Officer effective May 5, 2016 and has 13 years of service with AMETEK .
    Emanuela SperanzaChief Commercial OfficerJanuary 1, 2022Emanuela Speranza serves as the Chief Commercial Officer since January 1, 2022. She has 10 years of service with AMETEK .
    Tony J. CiampittiPresident–Electronic InstrumentsJanuary 1, 2017Tony J. Ciampitti was elected President–Electronic Instruments effective January 1, 2017 and has 27 years of service with AMETEK .
    John W. HardinPresident–Electronic InstrumentsJuly 23, 2008John W. Hardin was elected President–Electronic Instruments effective July 23, 2008 and has 25 years of service with AMETEK .
    David F. HermancePresident–Electromechanical GroupJanuary 1, 2022David F. Hermance was elected President of the Electromechanical Group effective January 1, 2022 and has 32 years of service with AMETEK .
    Thomas C. MarecicPresident–Electronic InstrumentsNovember 5, 2014Thomas C. Marecic was elected President–Electronic Instruments effective November 5, 2014 and has 29 years of service with AMETEK .
    Thomas M. MontgomerySenior Vice President–Comptroller & Principal Accounting OfficerMay 15, 2016Thomas M. Montgomery was elected as Senior Vice President–Comptroller & Principal Accounting Officer effective May 15, 2016 and has 40 years of service with AMETEK .

    Questions to Ask Management

    1. Given the ongoing destocking and project delays in your EIG Test and Measurement businesses, can you elaborate on the specific divisions and end markets that are most affected, and how you're planning to mitigate these challenges?

    2. With one of your two large Aerospace customers experiencing production issues, how do you anticipate this will impact your Aerospace business in 2025, and what steps are you taking to adjust your outlook and strategies accordingly?

    3. Considering the regulatory complexities in restructuring Paragon Medical, can you provide an update on the timeline and the challenges faced in integrating Paragon, especially in moving production or reducing costs in this regulated environment?

    4. In the context of the semiconductor capital equipment cycle and moderating expectations due to slower recovery in consumer products, how confident are you in your ability to match or outgrow the market, given the dynamics with China and new technologies, and what are the key risks you foresee?

    5. While you have announced acquisitions like Virtek Vision and Polygon Physics, can you discuss any potential hesitation or delays you're observing in your acquisition pipeline due to higher interest rates or market uncertainties, and how this might impact your growth strategy?

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateMay 2022
    End Date/DurationN/A
    Total additional amount$1 billion
    Remaining authorization$748,135,553
    DetailsEnhance shareholder value through opportunistic repurchases

    Auditor

    NameStart DateEnd DateReason for Change
    Ernst & Young LLP1930 PresentCurrent auditor