Ametek buys Berks metals producer
Ametek Inc., Paoli, has purchased KBA Holdings Inc. and its Reading Alloys Inc. titanium powder factory in Robesonia, Berks County, from Code Hennessy & Simmons Management LLC, Chicago, and a management-led group, Ametek spokesman William J. Burke said.
Ametek Inc., Paoli, has purchased KBA Holdings Inc. and its Reading Alloys Inc. titanium powder factory in Robesonia, Berks County, from Code Hennessy & Simmons Management LLC, Chicago, and a management-led group, Ametek spokesman William J. Burke said.
The price was not immediately made public. The deal doesn't include KB's other operations, but it will include an expansion of the Robesonia plant in South Heidelberg Township, which was granted a state-subsidized $4.4 million loan last year, Burke said. He added that the company has not decided whether to use the state loan, or fund the expansion internally.
The Robesonia plant had sales of around $80 million last year, employs around 165, and makes powders used by aerospace, medical, military and electronics manufacturers.
Ametek shares were at $43.92 at the close of trading last week on the New York Stock Exchange.