WEST CALDWELL, N.J., July 5 /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 has finalized a contract for an additional $2.1
million for Multi-Mix(R) integrated modules, following receipt of the related
$1.0 million advance contract for product documentation and materials
procurement, as previously announced. These Multi-Mix Microtechnology(R)
subassemblies provide an enabling and unique solution for use in a multi-year
military program.
Chairman and CEO Mason N. Carter commented, "We have concluded the final
products contract negotiations as referenced in the Merrimac May 16th news
release. This contract will enable us to design and manufacture Multi-Mix(R)
products associated with this important program over the next two year period.
We are continuing to discuss additional Multi-Mix(R) opportunities with our
customer while demonstrating a variety of innovative, higher order of
integration, cost effective Multi-Mix(R) integrated module solutions."
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.filtranmicro.com
http://www.merrimacind.com
Company News On-Call:
http://www.prnewswire.com/comp/567525.html
CONTACT:
Mason N. Carter, Chairman & CEO of
+1-973-575-1300, ext. 1202, mnc@merrimacind.com
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