News Release
Merrimac Reports Transfer of Stock WEST CALDWELL, N.J., December 13, 2004: 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® 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™ 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®
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 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®
for wireless applications. Merrimac (MRM)
is listed on the American Stock Exchange. Multi-Mix®, Multi-Mix
PICO™, MMFM® and Total Integrated Packaging Solutions® 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
E-mail: mnc@merrimacind.com
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