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Paoli, Pennsylvania-based AMETEK (NYSE: AME) on Monday announced the acquisition of EDAX, a Mahwah-based manufacturer of analytic instrumentation, for $37 million.

The acquisition from Panta Electronics of the Netherlands expands AMETEK”s position in differentiated analytical instruments, extending its capabilities into the measurement of physical properties of solid materials.

EDAX manufactures and markets energy dispersive X-ray microanalysis instrumentation used in electron microscope systems to identify and quantify the elemental composition and structure of solid materials. The company employs 170 people and recorded sales of $34 million in 2000.

“EDAX complements our existing process and analytical instruments business and creates a new growth platform for the company,” said Frank S. Hermance, AMETEK chairman and chief executive officer.

AMETEK is a manufacturer of electronic instruments and electric motors with 2000 sales of more than $1 billion. Its electronic instruments group, which had 2000 sales of $510 million, caters to the aerospace, power, process and industrial markets.

Hoover”s Online: AMETEK