WEST CALDWELL, N.J., Dec. 13 /PRNewswire-FirstCall/ -- On December 13,
2004, Infineon Technologies AG ("Infineon") sold an aggregate of 475,000
shares of the Common Stock of Merrimac Industries, Inc. (Amex: MRM) (the
"Company") to four purchasers in a privately-negotiated transaction (the
"Transaction"). Infineon also assigned to each purchaser certain registration
rights to such shares under existing registration rights agreements Infineon
had with the Company. The Company amended its Rights Agreement dated March 9,
1999, as amended, to permit the Purchasers and each of them to acquire the
Company's securities without becoming an "Acquiring Person" within the meaning
of the Company's Rights Agreement, provided that the Purchasers together with
their affiliates and associates (as defined under the Rights Agreement) are
the beneficial owners of only shares of the Company's Common Stock purchased
in the Transaction.
In connection with the Transaction, The Company and Infineon terminated
the Stock Purchase and Exclusivity Letter Agreement dated April 7, 2000, as
amended by a Modification Agreement dated September 27, 2002 (the "Letter
Agreement"), which provided that the Company would design, develop and produce
exclusively for Infineon certain Multi-Mix(R) products that incorporate active
RF power transistors for use in certain wireless base station applications,
television transmitters and certain other applications that are intended for
Bluetooth transceivers.
About Merrimac
Celebrating its 50th anniversary, 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 .
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,
+1-973-575-1300, ext. 1202, mnc@merrimacind.com
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