AMETEK Acquires Innovative Pump Technology for Oil and Gas Market
AMETEK, Inc. announced the acquisition of Quizix, a privately held manufacturer of precision pumping systems for the oil and gas market.
Quizix has developed innovative pumping technology that enables oil and gas producers to replicate conditions at the bottom of their wells allowing them to test core samples under actual conditions. These precision pump systems offer continuous pulse-free flow at high pressures and temperatures which are needed to simulate reservoir conditions allowing for more efficient oil and gas extraction.
"Quizix’s technology adds to AMETEK’s growing range of oil and gas instrumentation products," noted Mr. Hermance. "Together with our Chandler Engineering business unit and the soon to be completed acquisition of Solartron ISA, AMETEK is increasing its exposure to this important market area."
"AMETEK will continue to make technology-focused acquisitions such as this to further expand our technology base and create additional avenues for internal growth," he concluded.
AMETEK, Inc. (NYSE-listed, ticker symbol: AME) a leading global manufacturer of electronic instruments and electric motors with annualized sales of $1.4 billion.
Source: AMETEK, Inc.