PAOLI, Pa., June 28 /PRNewswire-FirstCall/ -- AMETEK, Inc. (NYSE: AME) today announced the appointment of Richard A. Madamba as Senior Vice President - Aerospace and Defense. Mr. Madamba previously served as Vice President and General Manager, Maintenance, Repair and Overhaul (MRO) for AMETEK Aerospace and Defense. Mr. Madamba's previous role will be filled by Gregory P. Young, who joins AMETEK from Texas Aero Engine Services, where he was President and General Manager.
"I'm pleased to announce these appointments to our aerospace and defense business," notes Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. "Richard Madamba has done an excellent job managing the expansion of AMETEK MRO into a global business, and Greg Young is an outstanding addition to our aerospace and defense management team. Both bring a wealth of experience and achievement to their new positions."
Mr. Madamba joined AMETEK in 2005 as Vice President and General Manager of Thermal Management Systems within AMETEK Aerospace and Defense, following more than 20 years with United Technologies. He most recently had been General Manager of the Global Compressor Business for Carrier Corporation, a United Technologies subsidiary.
In 2008, Mr. Madamba was appointed Vice President and General Manager of AMETEK MRO, a newly formed division within AMETEK Aerospace and Defense. Since 2006, AMETEK has significantly expanded its third-party aviation MRO business, selectively acquiring and opening new MRO operations and adding to the range of services provided by its global MRO network.
Mr. Madamba holds a Bachelor's of Science degree in Electrical Engineering from Worcester Polytechnic Institute and a Master's of Business Administration from Western New England College.
Greg Young joins AMETEK from Texas Aero Engine Services, an MRO joint venture between Rolls-Royce and American Airlines, where he had been President and General Manager since 2007. Prior to that, he had been with StandardAero, a leading aviation engine MRO services provider, since 1997, most recently as Vice President and General Manager.
Mr. Young previously had been Airline and Fleet Segment Director and Regional Airline and OEM Sales Manager with StandardAero and held management roles in Pratt & Whitney Canada's Service Center and Field Operations units. In addition, he served as a UH60 Blackhawk helicopter pilot and maintenance officer for the 82nd Airborne Division of the US Army.
Mr. Young holds a Bachelor's of Science degree from Embry-Riddle Aeronautical University and a Master's of Business Administration degree from the University of Tennessee.
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with 2009 sales of $2.1 billion. AMETEK's Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion and New Products. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P MidCap 400 and the Russell 1000 Indices.
Statements in this news release relating to future events, such as AMETEK's expected business and financial performance are "forward-looking statements." Forward-looking statements are subject to various factors and uncertainties that may cause actual results to differ significantly from expectations. These factors and uncertainties include our ability to consummate and successfully integrate future acquisitions; risks associated with international sales and operations; our ability to successfully develop new products, open new facilities or transfer product lines; the price and availability of raw materials; compliance with government regulations, including environmental regulations; changes in the competitive environment or the effects of competition in our markets; the ability to maintain adequate liquidity and financing sources; and general economic conditions affecting the industries we serve. A detailed discussion of these and other factors that may affect our future results is contained in AMETEK's filings with the U.S. Securities and Exchange Commission, including its most recent reports on Form 10-K, 10-Q and 8-K. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements.
Contact: William J. Burke (610) 889-5249
SOURCE AMETEK, Inc.