FITCHBURG, Mass., July 17, 2018 (GLOBE NEWSWIRE) -- Micron Products, Inc., a wholly owned subsidiary of Micron Solutions, Inc. (NYSE American:MICR), (together “Micron” or “the Company”) announces today that the Company has been notified by the U.S. Patent and Trademark Office that the Company will be awarded a patent for an invention which improves the high-low pressure system in 40MM M212 casings used in military, law enforcement and other markets. Under a multi-year exclusive supply agreement with Security Devices International, Inc. (TSX-V: SDZ ) (OTCQB:SDEV), (“SDI”), the patent rights and obligations are shared equally.
Salvatore Emma, President of Micron Products commented, “Micron has been manufacturing 40 millimeter casings for SDI with our patented pressure system which improves the accuracy and velocity of projectiles using the 40mm casing. SDI was the first company in the industry to adopt the improved system and the results are impressive.”
Both the U.S. and foreign militaries have started to use less lethal weapons as their missions have expanded to include domestic crowd control as well as assisting and supporting developing nation states. As the military is tasked with interacting with civilian populations, the demand for effective less-lethal weapons is growing exponentially.
Mr. Emma concluded, “We are delighted to be the exclusive manufacturer to SDI and we are currently working with them to develop new and innovative products for their markets.”
About Micron Products, Inc.
Micron Products, Inc., a wholly-owned subsidiary of Micron Solutions, Inc., is a diversified contract manufacturing organization that produces highly-engineered, innovative components requiring precision machining and injection molding. The Company also manufactures components, devices and equipment for military, law enforcement, industrial, medical device and automotive applications. In addition, the Company is a market leader in the production and sale of silver/silver chloride coated and conductive resin sensors used as consumable component parts in the manufacture of integrated disposable electrophysiological sensors. The Company’s strategy for growth is to build a best-in-class contract manufacturer with a specialized focus on plastic injection molding and highly-engineered medical devices and components requiring precision machining.
The Company routinely posts news and other important information on its websites: http://www.micronproducts.com and http://www.micronsolutionsinc.com .
Contact:
Mr. Salvatore Emma, Jr. President and CEO http:// www.micronproducts.com 978-345-5000
About Security Devices International
SDI is a technology company specializing in the areas of Military, Law Enforcement, Corrections, and Private Security. The Company develops and manufactures innovative, less lethal equipment and munitions.
Contact:
Mr. Paul Jensen President http:// www.securitydii.com 978-868-5011
Safe Harbor Statement
Forward-looking statements made herein are based on current expectations of Micron Solutions, Inc. (“our” or the “Company”) that involve a number of risks and uncertainties and should not be considered as guarantees of future performance. The factors that could cause actual results to differ materially include our ability to obtain and retain order volumes from customers who represent significant proportions of net sales; our ability to maintain our pricing model, offset higher costs with price increases and/or decrease our cost of sales; variability of customer delivery requirements; the level of and ability to generate sales of higher margin products and services; our ability to manage our level of debt and provisions in the debt agreements which could make the Company sensitive to the effects of economic downturns and limit our ability to react to changes in the economy or our industry; failure to comply with financial and other covenants in our credit facility; reliance on revenues from exports and impact on financial results due to economic uncertainty or downturns in foreign markets; volatility in commodity and energy prices and our ability to offset higher costs with price increases; continued availability of supplies or materials used in manufacturing at competitive prices; variations in the mix of products sold; continued availability of supplies or materials used in manufacturing at competitive prices; and the amount and timing of investments in capital equipment, sales and marketing, engineering and information technology resources. More information about factors that potentially could affect the Company's financial results is included in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
