Ametek Inc., the company with more than a hundred different brands of electronic and electromechanical instruments in its portfolio, announced today that it has acquired VTI Instruments for approximately $74 million. VTI is a California-based company that makes testing and measurement instruments for defense and aerospace, transportation, civil engineering, energy and power generation as well as other sectors. It will be folded into Ametek’s Electronic Instruments Group (EIG) which had $2 billion in combined sales last year.
Big Oil’s Little Secret
The cost of drilling offshore wells is massive. Drillships with the capability of reaching deeper than 7,500 feet cost approximately $600,000 per day! Those rates have been on the increase for the last few years, and show no signs of waning. One of these drilling companies is actually outperforming its own big oil customers.