News Release
Merrimac Industries Announces New Information Technology Initiative to Link its Worldwide Customer Base to the Company's Domestic and International Facilities
WEST CALDWELL, NJ (January 16, 2001) - Merrimac Industries, Inc. (AMEX: MRM), a leader in the design and manufacture of RF Microwave components, assemblies and Micro-Multifunction (MMFM®) Modules, announced today the formation of a new B2B initiative that will allow all of the Company's domestic and international facilities to be networked with each other and its customers and suppliers worldwide. This IT initiative will allow for more complete and efficient customer service as well as a level of customization that will differentiate Merrimac from its competitors.
Mason N. Carter, Chairman and CEO of Merrimac, commented, "We will begin using the Internet and its related technologies to build Intranets, Extranets and other business portals to establish real time collaboration and to communicate by instant messaging with our customers and co-workers. We will conceptualize, build and maintain systems that will give our customers instant access to information and allow for instant online collaboration between our customers and our sales staff and engineers.
Merrimac's increasing commitment to IT enables design engineers to share data, designs, simulated performance, design databases and product outlines securely with customers via the Internet. Key account customers will have access to Merrimac's pre-designed modular platforms, which will accelerate customer product designs by reducing design cycles and time to market. We have made great strides in increasing our simulation capabilities that will further reduce time to market. They will also have the ability to track their orders from the quote process through production, all the way through shipment and delivery."
The Company also announced that it has appointed Jayson E. Hahn to the newly created position of Vice President, Information Technology and Chief Information Officer. Over the past four years Mr. Hahn has lead the effort to identify, install, configure, maintain and update new technologies connecting Merrimac as a team globally.
Hahn will be responsible for the overseeing of worldwide information systems infrastructure, including systems development, operations, telecommunications, standards, policy and planning, IT procurement, enterprise storage and facility requirements. He reports to Mason N. Carter, Chairman and CEO.
Hahn stated, "The IT initiative has helped Merrimac grow at a rapid rate. We are now at a crossroads. The unique technologies and services we will be establishing will put us far ahead of our competition. Merrimac's vision and increased investment in IT will help us achieve our Goal of Profitable Growth and greatly increase shareholder value."
Prior to being appointed CIO, Hahn was Director of Network Services for Merrimac where he established the Company's worldwide information infrastructure and e-business foundation, and the implementation of ON-LINE CO-DESIGN® multi-platform design system, a one-of-a-kind service which gives Merrimac's customers the ability to create Multi-MixTM multilayer designs from pre-engineered standard platforms and a 90,000 part reference library over the Internet.
About Merrimac
Merrimac Industries, Inc. is a leader in the design and manufacture of RF Microwave components, assemblies and Micro-Multifunction (MMFM®) Modules serving the wireless telecommunications industry worldwide with enabling technologies for commercial applications. Merrimac is focused on providing Total Integrated Packaging SolutionsTM with Multi-Mix® Microtechnology, a leading edge competency providing value to our customers through miniaturization and integration. The Multi-Mix® process for microwave, multilayer integrated MMFM® circuits is a patented method developed at 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, Inc. is ISO 9001 certified.
Merrimac Industries, Inc. and its subsidiary Filtran Microcircuits Inc., with locations in West Caldwell, NJ, San Jose, Costa Rica and Ottawa, Ontario, Canada, have approximately 260 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 SolutionsTM wireless applications. Merrimac (MRM) is listed on the American Stock Exchange. For more information about Merrimac Industries, visit its home page at www.merrimacind.com.
This press release contains statements relating to future results of Merrimac (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: 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, as well as other risks and uncertainties, including but not limited to those detailed from time to time in Merrimac's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and Merrimac undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
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Contacts
Mason N. Carter, Chairman and CEO,
Tel: 973.575.1300, Ext. 1202; Fax: 973.882.5989
E-mail: mnc@merrimacind.com
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