FITCHBURG, Mass., Sept. 12, 2017 (GLOBE NEWSWIRE) -- Micron Solutions Inc.(NYSE American:MICR) through its wholly owned subsidiary, Micron Products, Inc. (together “Micron” or “the Company”) announces today that it has made the first deliveries of less-lethal 40mm projectiles for use by the Royal Canadian Mounted Police (“RCMP”.) In August, the first shipments of expanding projectiles were delivered to a licensee of Security Devices International, Inc. (TSX-V:SDZ) (OTCQB:SDEV), (“SDI”) as a result of a standing offer tender award by RCMP.
Micron’s customer, Security Devices International Inc. (SDI), recently announced that the RCMP awarded a standing offer tender for their requirement of 40mm less lethal rounds. The RCMP selected the round submitted by SDI’s North American licensee. The expanding projectile component is produced by Micron using SDI’s patented collapsible head technology and is further fabricated into live 40mm rounds by SDI’s licensee.
The RCMP specifically required a projectile that in their words “featured a collapsible expandable gel-nose head with an expander piston arrangement that will absorb and disperse energy over a wider impact area.” Only SDI’s patented collapsible head projectile qualified and is manufactured by Micron under an exclusive multi-year agreement executed earlier this year. The RCMP award is for 150,000 rounds over a three-year period with an option for another 150,000 over an additional two-year period.
“The RCMP award to SDI’s North American licensing partner is further validation of SDI’s technology as one of the most innovative and effective less-lethal products in the market,” commented Salvatore Emma, Micron’s President and CEO.
Mr. Emma added, “Less-Lethal is a growth industry. As civil unrest increases around the world the demand for less-lethal devices is growing. Within the less lethal space, 40mm blunt impact munitions are the gold standard and within 40mm, SDI’s BIP is the most innovative and truly disruptive technology. Once 40mm is adopted by law enforcement for patrol cars, it is likely to replace the electrical discharge weapons (commonly known as “tasers”) for foot patrol. Both the U.S. and foreign militaries have started to use less lethal weapons as their missions have expanded to include domestic crowd control as well as assisting and supporting developing nation states. As the military is tasked with interacting with civilian populations the demand for effective less-lethal weapons is growing exponentially. We are delighted to be the exclusive manufacturer to SDI and we are currently working with them to develop innovative products for their market.”
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 technologies 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 quality organization and capitalize on its engineering design expertise and reliable, proprietary manufacturing processes to further penetrate the medical device contract manufacturing market. The Company routinely posts news and other important information on its websites: http://www.micronsolutionsinc.com, http://www.micronproducts.com
About Security Devices International
SDI is a technology company specializing in the areas of Military, Law Enforcement, Corrections, and Private Security. The Company develops and manufactures innovative, less lethal equipment and munitions.
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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 whether BCS will be effective in carrying out its responsibilities and our ability to successfully implement suggested strategies and improve operations, our ability to 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 sales of higher margin products and services; our ability to manage our level of debt and provisions in the debt agreements which could restrict our ability to implement strategic changes ; failure to comply with financial and other covenants in our credit facility; 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; variability of customer delivery requirements; variations in the mix of products sold; 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.