AMETEK, Inc. (NYSE: AME) today announced that its Board of Directors has increased the authorized level for repurchases of its common stock by $400 million. This increased authorization will be added to the approximately $75 million that currently remains available from an existing authorization approved by the Board of Directors in November 2015.

"While strategic acquisitions remain the primary use for our strong free cash flow, this increased share repurchase authorization provides us the flexibility to continue to opportunistically repurchase our common stock," notes David A. Zapico, AMETEK's Chief Executive Officer.

Corporate Profile

AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices with annual sales of approximately $4.0 billion. AMETEK's Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions, 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 500 Index.