WEST CALDWELL, N.J., Sept. 3 /PRNewswire-FirstCall/ -- Merrimac
Industries, Inc. (Amex: MRM), today announced that it was awarded a contract
that is estimated to reach $4.4 million from The Boeing Company (NYSE: BA)
Integrated Defense Systems, Seal Beach, California, for Beamforming Networks,
and RF/ Microwave signal processing components which are utilized on Boeing's
GPS (Global Positioning System) IIF Satellites.
Under a contract awarded by the U.S. Air Force, Boeing is currently
building the first three GPS IIF satellites, with a potential total of up to
12 satellites. 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.
Merrimac received a $663,000 order for Beamforming Networks and RF
Microwave signal processing components which are to be installed on Space
Vehicles 2 and 3. Additionally, Merrimac and Boeing have negotiated a
contract with additional options, in support of the build and delivery of
hardware for Space Vehicles 4 through 12. If all anticipated options are
exercised, the contract value is estimated to be $4.4 million.
Chairman and CEO Mason N. Carter commented, "Merrimac is a strategic
supplier to The Boeing Company on the U.S. Air Force GPS Block IIF, Satellite
Program and we look forward to supporting the assembly of the first three
satellites, with a potential for up to nine additional Boeing IIF satellites
through 2006."
Robert Colvert, Boeing GPS IIF program manager commented, "Merrimac
Industries is a valued member of the GPS IIF team and has provided invaluable
assistance during the development effort, which led directly to their
selection of a production contract. We look forward to a long relationship
with Merrimac."
Mr. Carter added, "Due to nearly 35 years of space heritage, along with
the positive experience, ease, cooperation and support that Boeing encountered
in working with Merrimac in the engineering model and qualification stages led
to the selection of Merrimac as the preferred strategic partner. Our design,
process and management teams worked very closely with Boeing in meeting and
exceeding Boeing's expectations. We look forward to continuing to work with
Boeing over the next few years through the completion of this important
defense satellite program."
About The Boeing Company
A unit of The Boeing Company, Boeing Integrated Defense Systems is one of
the world's largest space and defense businesses. Headquartered in St. Louis,
Boeing Integrated Defense Systems is a $25 billion business. It provides
systems solutions to its global military, government and commercial customers.
It is a leading provider of intelligence, surveillance and reconnaissance; the
world's largest military aircraft manufacturer; the world's largest satellite
manufacturer and a leading provider of space-based communications; the primary
systems integrator for U.S. missile defense; NASA's largest contractor; and a
global leader in launch services.
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 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(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 products; the
risk that the Company will not be able to refinance or retire its existing
indebtedness or consummate alternate financing in order to fund its operations
as currently contemplated by its business strategy; 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
http://www.filtranmicro.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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