Saugerties Closure Announcement It is with much sorrow that | am here to announce that the decision has been made by AMETEK to migrate the products produced in the Saugerties location to the Whitsett, NC (Rock Creek) location during the first two quarters of 2016. As we all know and experienced, the Saugerties location has continued to decrease in size over the last 15 years. Nevertheless, the team here has always been able to be counted upon for making a high quality product and delivering to our customers ina timely fashion. It is for this reason that Saugerties has been able to build such a strong reputation and be competitive in the marketplace for so long. Unfortunately,'in an effort to reduce cost and consolidate Infrastructure, AMETEK has made the declsion to cloge the facility. _ The plan in place is to take the next 5 % months to transition the production to the Rack Creek facility. As the transfer takes place it is possible that we will be laying-off employees as their positions become redundant, with the entire workforce leaving no later than the end of June with the exception of a few specialized employees, We, of course, will be providing a severance package for all lald off employees. This severance package allows for 2-weeks salary for every year of service up to 30 weeks plus any unused vacation. Many of the people In this room will be eligible for the maximum severance agreement. In addition, outplacement services has been arranged to support you In your efforts to transition into your next career opportunity or even transition planning Into retirement, I speak for everyone in the PMC Division that this decision was not taken lightly and very much regret that we have to make this announcement. We have had a great experience working in the city of Saugerties but more importantly, we have had a tremendous experience working with the people at this facllity and have the utmost respect for our Saugerties team. Although | realize this is a difficult time during the transition period, we are going to need the continued help of everyone.on Saugerties team. | know you have great pride in what you do and want a successful transition of the products line. Because of the all the work involved around the transition no Immediate reductions are planned and we will do our very best to give everyone advanced notice of when specific reductions will take place. Mark and his team are going to be working with the group to continue supporting our customers and making sure we will do so after thé transition, Mark Dwyer, Tim Michalk and | are here to disciiss any questions or concerns you may have. In addition we have an individual from the, outplacement service we use to speak to you about the services they can offer you. It is with a heavy heart that we make this announcement and we at AMETEK will re make the end result of this transition as.positive as possible for everyone involved. Thank You, Dan Kirtz