SMS buy widens Ducommun's sales base
Ducommun Inc. has acquired SMS Technologies Co., a privately held supplier of assemblies and subassemblies for commercial and military aerospace applications. SMS will be folded into Ducommun's MechTronics of Arizona Corp. subsidiary, which manufactures mechanical and electromechanical enclosure products, and provides subsystem integration of defense electronics systems and commercial aviation assemblies.
SMS, whose business is similar to that of Phoenix-based MechTronics, will continue to operate out of its existing facility in Chatsworth, Calif.
Ametek sees EM/instrument gains in 1Q
Ametek Inc., Paoli, Pa., said it has been seeing increasing sales in its units that sell electromechanical devices and electronic instruments, signaling that the market for those products is firming.
Companywide, Ametek racked up first-quarter sales of $230.8 million-a 12% increase from the previous quarter, but down 5.3% from sales of $242 million in the first quarter of 1998. Nevertheless, executives were encouraged by the sequential increases, which they said reflect improving market conditions.
Sales in Ametek's Electromechanical Group increased 13% from the prior quarter, to $121.6 million, and operating income grew 49%, to $17.2 million. The Electronic Instruments Group posted both year-over-year and sequential gains in sales and net income, indicating stronger demand for Ametek's dashboard and process instruments, executives said. Sales for that group were $109.2 million, a 10% sequential and 3.9% year-over-year increase.