FITCHBURG, Mass., Aug. 07, 2017 (GLOBE NEWSWIRE) -- Micron Products, Inc., a wholly owned subsidiary of Micron Solutions, Inc. (NYSE American:MICR) (“Micron”) with U.S. offices in Fitchburg, MA, is pleased to announce that the Company has entered into a multi-year agreement with Security Devices International, Inc. (“SDI”) to supply SDI with its patented collapsible head blunt impact projectiles (BIPs) and collapsible head payload projectiles including OC, CS, ML (marking liquid), MP (marking powder), MO (mal-odorant), IN (inert powder) and DNA Marking as well as it less lethal Glass Break rounds (GB-OC and GB-CS).
Under this agreement, Micron is the exclusive contract manufacturer of a variety of products for SDI who is a leader in the area of 40mm blunt impact projectile technology. SDI’s patented collapsible head design has made it possible to fire a heavier projectile with greater accuracy and greater stopping power over a wide range of distances with significantly reduced risk of serious injury or death. The increased range and greater stopping power has provided a valuable less lethal tool for police, correctional services and anti-riot personnel, “After five years of close collaboration and development, we are excited to be a part of SDI’s next phase of commercialization. We are very pleased to be working with SDI as they begin to expand into new markets worldwide. We look forward to supplying SDI and their customers with this truly ground-breaking technology,” commented Salvatore Emma, Micron’s President and CEO.
Bryan Ganz, President of SDI continued, “Micron has been an integral part of the development of the BIP and collapsible head payload rounds. We at SDI look forward to working closely with our manufacturing partner to continue to develop exciting new products that will keep SDI at the leading edge of the less lethal technology curve. In fact, there are several products that are currently in development which we cannot discuss at this time but which we hope to be able to release later this year.”
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
About Security Devices International Inc.
SDI is a less-lethal company specializing in the sale of innovative, next generation non-lethal ammunition and tactical gear. The Company’s munitions solutions are a safer alternative to conventional crowd control devices currently in the marketplace, such as beanbags and batons as well as plastic, wood and rubber bullets. SDI is currently deploying their family of non-lethal munitions to law enforcement, correctional services and homeland security agencies across the globe.
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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 renew our credit facility and 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.