Total Value of Proposed Contract Could Increase
To $3.0 Million Shippable Over Two Years
WEST CALDWELL, N.J., May 16 /PRNewswire-FirstCall/ -- Merrimac Industries,
Inc. (Amex: MRM), a leader in the design and manufacture of RF Microwave
components, subsystem assemblies and micro-multifunction modules (MMFM(R)),
today announced that it was awarded an advance product documentation and
materials procurement contract for $1.0 million for Multi-Mix(R) products.
Total sales under the proposed final products contract being negotiated could
be as much as an additional $2.0 million. These subassemblies utilize
Multi-Mix Microtechnology(R) providing an enabling and unique solution for use
in a multi-year military application.
Chairman and CEO Mason N. Carter commented, "As a long-time strategic
partner with our customer, we continue to team to achieve space and defense
initiatives. Our breadth of design and process expertise allows us to work
closely with this Key Account customer in providing innovative and cost
effective Multi-Mix(R) subsystem solutions.
This contract clearly demonstrates the positive experience and ease of
working with our team coupled with our ability to design and provide
engineering and production units in a timely manner that meets the
expectations of our customer."
About Merrimac
Merrimac Industries, Inc. is a leader in the design and manufacture of RF
Microwave signal processing components, subsystem assemblies, and Multi-Mix(R)
micro-multifunction modules (MMFM(R)), for the worldwide Defense, Satellite
Communications (Satcom), Commercial Wireless and Homeland Security market
segments. 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.
Multi-Mix(R) MMFM(R) provides a patented and novel packaging technology that
employs a platform modular architecture strategy that incorporates embedded
semiconductor devices, MMICs, etched resistors, passive circuit elements and
plated-through via holes to form a three-dimensional integrated module
applicable to High Power, High Frequency and High Performance mission-critical
applications. Merrimac Industries' facilities are registered under ISO
9001:2000, an internationally developed set of quality criteria for
manufacturing operations.
Merrimac Industries, Inc. has facilities located in West Caldwell, NJ, San
Jose, Costa Rica and Ottawa, Ontario, Canada, and has approximately 230
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(R), 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; the possibilities of impairment
charges to the carrying value of our Multi-Mix(R) assets, thereby resulting in
charges to our earnings; slower than anticipated penetration into the
satellite communications, defense and wireless markets; the risk that the
benefits expected from the Company's acquisition of Filtran Microcircuits Inc.
are not realized; the ability to protect proprietary information and
technology; competitive products and pricing pressures; failure of our
Original Equipment Manufacturer, or OEM, customers to successfully incorporate
our products into their systems; the emergence of new or stronger competitors
as a result of consolidation movements in the market; the timing and market
acceptance of our or our OEM customers' new or enhanced products; our ability
and the ability of our OEM customers to keep pace with the rapid technological
changes and short product life cycles in our industry and gain market
acceptance for new products and technologies; changes in product mix resulting
in unexpected engineering and research and development costs; delays and
increased costs in product development, engineering and production; reliance
on a small number of significant customers; foreign currency fluctuations
between the U.S. and Canadian dollars; 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 as are 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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