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Micron Products, Inc. wins multi-year purchase commitment for components used by the U.S. Armed Forces
FITCHBURG, Mass., July 23, 2018 (GLOBE NEWSWIRE) -- Micron Products, Inc., a wholly owned subsidiary of Micron Solutions, Inc.(NYSE American:MICR), (together “Micron” or “the Company”) ”) announced today that the Company has received a purchase commitment for several thousand sets of molded and machined components used in production of the U.S.-Military’s next generation thermal weapon sights from Kopin Corporation (NASDAQ:KOPN), (“Kopin”) the largest U.S. developer of display systems for wearable technologies and military applications.
Mr. Salvatore Emma, President and CEO of Micron Products, commented, “Micron and Kopin have a long and successful history of working together to manufacture very sophisticated machined and plastic injection molded products. This partnership, our qualifications, our commitment to quality and to the success of our customer, helped to make Micron a manufacturer of choice. Micron’s unique ability to near-net mold and finish machine the components made from highly engineered resins helps our customers compress delivery lead time and costs.” Mr. Emma concluded, “We are delighted to be the selected manufacturer to Kopin for this important production opportunity and we look forward to working with them to develop new products for future programs.”
The Company expects this to be a multi-million dollar program which is anticipated to last over several years.
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.
Mr. Salvatore Emma, Jr.
President and CEO
About Kopin Corporation
Kopin Corporation is a leading developer of innovative wearable computing technologies and solutions. Kopin’s technology portfolio includes ultra-small transmissive, reflective and emissive displays, optics, speech enhancement technology, software, low-power ASICs, and ergonomically designed smart headset concept systems. Kopin’s proprietary components and technology are protected by more than 300 global patents and patents pending. For more information, please visit Kopin’s website at www.kopin.com.
Richard Sneider, 508-870-5959
Treasurer and Chief Financial Officer
Market Street Partners
Joann Horne, 415-445-3233
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.