WEST CALDWELL, N.J., Jan. 19 /PRNewswire-FirstCall/ -- Merrimac
Industries, Inc. (Amex: MRM), today announced that it received an order valued
at $1.3 million from The Boeing Company (NYSE: BA) Integrated Defense Systems,
Huntington Beach, California, to supply Beamforming Networks and RF/ Microwave
signal processing components on Boeing's GPS (Global Positioning System) IIF
Satellites.
Boeing exercised its second contract option for Merrimac to provide
additional signal processing components on Space Vehicles 7, 8, and 9. Under a
contract awarded by the U.S. Air Force, Boeing is currently building the third
group of GPS IIF satellites, with a potential total of up to 12 satellites.
Today's order is part of the contract from Boeing estimated to reach $4.4
million that Merrimac announced on September 3, 2003.
Designed for flexibility and growth, the IIF satellites will provide new
capabilities, including improved anti-jam, increased accuracy, higher
integrity and critical secure Operational Military codes.
Chairman and CEO Mason N. Carter commented, "Merrimac continues to be a
strategic supplier to The Boeing Company on the U.S. Air Force GPS Block IIF,
Satellite Program and we look forward to continuing our assembly of the next
three satellites in 2005, with a potential for up to three additional Boeing
IIF satellites through 2006."
Mr. Carter added, "Our process and management teams continue to work very
closely with Boeing in meeting and exceeding Boeing's expectations. We look
forward to continuing to work with Boeing through the completion of this
important navigation satellite program."
About Merrimac
Merrimac Industries, Inc. is a leader in the design and manufacture of
Multi-Mix PICO(TM) RF Microwave components, assemblies and micro-multifunction
modules (MMFM), serving the wireless telecommunications industry worldwide
with enabling technologies for space, defense and commercial applications.
Merrimac is focused on providing Total Integrated Packaging Solutions(R) with
Multi-Mix(R) Microtechnology, a leading edge competency providing value to our
customers through miniaturization and integration. The Multi-Mix(R) process
for microwave, multilayer integrated MMFM circuitry is a patented method
developed by Merrimac Industries based on fluoropolymer composite substrates.
The fusion bonding of multilayer structures provides a homogeneous dielectric
medium for superior electrical performance at microwave frequencies. The
bonded layers may incorporate embedded semiconductor devices, MMICs, etched
resistors, passive circuit elements and plated-through via holes to form a
three-dimensional subsystem enclosure that requires no further packaging.
Merrimac Industries facilities are registered under ISO 9000, an
internationally developed set of quality criteria for manufacturing
operations.
Merrimac Industries, Inc. and its subsidiary Filtran Microcircuits Inc.,
are located in West Caldwell, NJ, San Jose, Costa Rica, and Ottawa, Ontario,
Canada, and have approximately 240 co-workers dedicated to the design and
manufacture of signal processing components, gold plating of high-frequency
microstrip, bonded stripline and thick metal-backed Teflon (PTFE) micro-
circuitry and subsystems providing Total Integrated Packaging Solutions(R) for
wireless applications. Merrimac (MRM) is listed on the American Stock
Exchange. Multi-Mix(R), Multi-Mix PICO(TM), MMFM(R) and Total Integrated
Packaging Solutions(R) are trademarks of Merrimac Industries, Inc. For more
information about Merrimac Industries, Inc. and Filtran Microcircuits Inc.,
please visit http://www.merrimacind.com and http://www.filtranmicro.com .
This press release contains statements relating to future results of the
Company (including certain projections and business trends) that are "forward-
looking statements" as defined in the Private Securities Litigation Reform Act
of 1995. Actual results may differ materially from those projected as a result
of certain risks and uncertainties. These risks and uncertainties include,
but are not limited to: risks associated with demand for and market acceptance
of existing and newly developed products as to which the Company has made
significant investments, particularly its Multi-Mix(R) products; general
economic and industry conditions; slower than anticipated penetration into the
satellite communications, defense and wireless markets; the risk that the
benefits expected from the acquisition of Filtran Microcircuits Inc. are not
realized; the ability to protect proprietary information and technology;
competitive products and pricing pressures; risks relating to governmental
regulatory actions in communications and defense programs; and inventory
risks due to technological innovation and product obsolescence, as well as
other risks and uncertainties, including but not limited to those detailed
from time to time in the Company's Securities and Exchange Commission filings.
These forward-looking statements are made only as of the date hereof, and the
Company undertakes no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events or
otherwise.
Contact: Mason N. Carter, Chairman & CEO
973-575-1300, ext. 1202
mnc@merrimacind.com
SOURCE Merrimac Industries, Inc.
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Related links:
http://www.merrimacind.com
Company News On-Call:
http://www.prnewswire.com/comp/567525.html
CONTACT:
Mason N. Carter, Chairman & CEO of Merrimac
Industries, Inc., +1-973-575-1300, ext. 1202, mnc@merrimacind.com
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