WEST CALDWELL, N.J., May 18 /PRNewswire-FirstCall/ -- Merrimac
Industries, Inc. (Amex: MRM), today announced that it received both an
Internal Research And Development (IRAD) and a new co-design contract as a
follow-on to the IRAD contract for multifunction integrated modules from
General Dynamics Advanced Information Systems, a business unit of General
Dynamics (NYSE: GD). The initial design effort is valued at approximately
$500,000. Final design and manufacture of the subassembly modules from the
IRAD contract was completed and delivered in April 2007.
Merrimac Chairman and CEO Mason N. Carter commented, "Although we have
had a long standing customer relationship with General Dynamics, this
project has taken our relationship to a new level. The co-design
relationship with General Dynamics is evolving into one of strategic
significance. Both Merrimac and General Dynamics design and process
engineers are co-designing together and utilizing Multi-Mix(R) as the
enabling technology to provide an integrated multifunction module for use
in General Dynamics next generation satellite receivers."
About General Dynamics
General Dynamics Advanced Information Systems designs, develops,
manufactures, integrates, operates and maintains mission systems for
defense, space, intelligence, surveillance, reconnaissance, homeland
security and homeland defense customers. Headquartered in Fairfax, Va., the
company specializes in ground systems, imagery processing, mission
payloads, space vehicles; maritime subsurface, surface and airborne mission
systems; and tasking, collection, processing, exploitation, and
dissemination programs for national intelligence. More information is
available on the Internet at http://www.gd-ais.com.
General Dynamics, headquartered in Falls Church, Va., employs
approximately 82,600 people worldwide, and had 2006 revenues of
approximately $24.1 billion. The company is a market leader in
mission-critical information systems and technologies; land and
expeditionary combat systems, armaments and munitions; shipbuilding and
marine systems; and business aviation. More information can be found online
at http://www.generaldynamics.com.
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 used in 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 210
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), System In A Package(R), SIP(R) and Total Integrated
Packaging Solutions(R) are registered trademarks of Merrimac Industries,
Inc. For more information about Merrimac Industries, Inc. and its Canadian
subsidiary 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; the possibilities of impairment charges to the
carrying value of our Multi-Mix(R) assets, thereby resulting in charges to
our earnings; risks associated with adequate capacity to obtain raw
materials and reduced control over delivery schedules and costs due to
reliance on sole source or limited suppliers; slower than anticipated
penetration into the satellite communications, defense and wireless
markets; failure of our Original Equipment Manufacturer or OEM customers to
successfully incorporate our products into their systems; 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; 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; general economic and
industry conditions; 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; 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;
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.
 back to top
Related links:
http://www.merrimacind.com
http://www.filtranmicro.com
http://www.generaldynamics.com http://www.gd-ais.com
http://www.prnewswire.com/comp/567525.html/
CONTACT:
Mason N. Carter, Chairman & CEO of Merrimac
Industries, Inc., +1-973-575-1300, ext. 1202, or
mnc@merrimacind.com
|
