Micron Solutions, Inc. Announces Real Estate Sale, Changes to its Board of Directors and Letter from NYSE American
2019年6月19日 - 5:33AM
Micron Solutions, Inc. (NYSE American: MICR) (the “Company”), a
diversified contract manufacturing organization, through its
wholly-owned subsidiary, Micron Products, Inc., producing
highly-engineered, innovative components requiring precision
machining and injection molding, announced today several new
developments.
The Company reports that it intends to close on
the sale of two unoccupied buildings, and land, at its Fitchburg
campus on or around June 30, 2019 with anticipated proceeds of
$685,000.
Bill Laursen, President of the Company, stated,
“This will provide an influx of cash which will be used to support
this transformational phase of the business.”
Today the Company also announced changes to the
Board of Directors. Effective June 4, 2019, Mr. Andrei Soran,
currently a Director of the Company, was appointed Chairman of the
Board of Directors. He brings over 20 years of experience as CEO in
large healthcare organizations and has successfully led several
turnarounds.
“I am delighted to further assist in building
the Company towards greater growth.” With strong management and a
promising pipeline of new projects, new products and innovation,
Micron is making progress towards profitability. “Mr. Chambers, in
his role as Chairman, has provided great guidance and stewardship”
said Mr. Soran.
The Board thanks Mr. Jason R. Chambers for his
service as the Chairman for the last three years. Mr. Chambers will
continue as a Director of the Company.
On June 12, 2019, the Company received a letter
from the NYSE American LLC (the “NYSE American” or the “Exchange”)
stating it is not in compliance with the continued listing
standards as set forth in Section 1003(a)(ii) of the NYSE American
Company Guide (the “Company Guide”). In order to maintain its
listing, the Company will submit a plan of compliance by July 12,
2019 addressing how it intends to regain compliance with Section
1003(a)(ii) of the Company Guide by December 12, 2020. If the plan
is accepted, the Company may be able to continue its listing but
will be subject to periodic reviews by the Exchange. If the plan is
not accepted or if it is accepted but the Company is not in
compliance with the continued listing standards by December 12,
2020, or if the Company does not make progress consistent with the
plan, the Exchange will initiate delisting procedures as
appropriate. The Company’s management is pursuing options to
address the deficiencies and intends to submit a compliance plan on
or before the deadline set by the Exchange.
About Micron Solutions, Inc.
Micron Solutions, Inc., through its wholly-owned
subsidiary, Micron Products, Inc., is a diversified contract
manufacturing organization that produces highly-engineered,
innovative medical device components requiring precision machining
and injection molding. The Company also manufactures
components, devices and equipment for military, law enforcement,
industrial 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.micronsolutionsinc.com and
http://www.micronproducts.com
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.
For more information, contact:
Bill LaursenChief Executive Officer978.345.5000
Micron Solutions (AMEX:MICR)
過去 株価チャート
から 9 2024 まで 10 2024
Micron Solutions (AMEX:MICR)
過去 株価チャート
から 10 2023 まで 10 2024