BERWYN, Pa. -- AMETEK, Inc. (NYSE: AME) today announced that it has acquired Coining Holding Company, a leading supplier of custom-shaped metal preforms, microstampings and bonding wire solutions for interconnect applications in microelectronics packaging and assembly, for $148 million in cash. Coining, acquired from an investor group led by Chattanooga, TN based River Associates Investments, LLC, has estimated annual sales of approximately $65 million.
With its headquarters in Montvale, NJ, Coining is a global leader in custom-shaped preforms, microstampings and wire used for joining electronic circuitry, packaging microelectronics and providing thermal protection and electric conductivity for a wide range of electronic devices. Coining's products are used in highly engineered applications for the RF/microwave, photonics, medical, aerospace and defense, and general electronics industries.
"Coining is an outstanding addition to AMETEK's business portfolio and an excellent fit with our engineered materials, interconnects and packaging businesses," notes Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. "Coining's unique proprietary manufacturing processes mesh well with our existing specialty metals capabilities."
Coining joins recently acquired Avicenna Technology in AMETEK's Engineered Materials, Interconnects and Packaging, (EMIP) Division, which manufactures highly engineered electronic interconnects and microelectronic packaging for a wide range of electronics applications. EMIP is a division within AMETEK's Electromechanical Group--a differentiated supplier of electrical interconnects, specialty metals, technical motors, floor care motors and specialty motors with annualized sales of $1.3 billion.