Micron Products, Inc. Expands Sales Organization To Meet Growing Demand For Highly-Engineered Contract Manufacturing Services
FITCHBURG, Mass., Oct. 27, 2015 (GLOBE NEWSWIRE) -- Micron Products, Inc. (Micron), a wholly-owned subsidiary of Arrhythmia Research Technology, Inc. (NYSE MKT:HRT), announced today it has expanded its sales organization in two key areas with the appointment of Mr. Christopher Foley as Vice President of Sales and Marketing – Machined Components and Ms. Elaine B. Holland as Vice President of Sales and Marketing – Plastic Products.
"We are expanding our sales and marketing organization to address the growing contract manufacturing market while bringing a specialized focus in plastic injection molding, machining, and value-added services," said Salvatore Emma, Jr., President and CEO. "Ms. Holland's strong plastic molding experience and industry knowledge is a terrific addition as more medical device and other OEMs look for highly competent engineering and manufacturing support. Mr. Foley has experience across multiple industries with a deep understanding of machined medical device components."
Mr. Emma added, "Ms. Holland and Mr. Foley complement each other well and will be an excellent addition as we look to expand Micron's capabilities and offerings. I have great confidence that their drive, relationships, and industry knowledge will help us to grow market share and sales in their respective areas of focus."
Ms. Holland's experience includes executive-level business development and direct sales positions with a strong concentration in injection molding, micro-molding, prototyping, tooling and assembly. Prior to joining Micron, Ms. Holland was Business Development Manager for SMC, Ltd., a medical devices contract manufacturer, where she was instrumental in tripling the sales of the company. Her experience in marketing contract manufacturing of medical devices is extensive both as the owner of a manufacturing representative firm and as a sales manager for SRC Medical, Inc. and Phoenix Custom Molders.
Mr. Foley brings more than 20 years of sales and marketing experience in positions of progressively increasing responsibility for contract manufacturing companies for OEMs in multiple industries, including medical devices, defense, aerospace and energy. He was most recently Vice President of Sales and Marketing for FMI Hansa Medical, a contract manufacturing company servicing medical device OEMs. His executive sales management experience prior to FMI Hansa Medical includes positions at Federated Precision, Brinkman International Group and MSK Precision Products.
About Arrhythmia Research Technology, Inc. and Micron Products
Arrhythmia Research Technology, 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.arthrt.com, http://www.micronproducts.com and http://www.micronmedical.com
Safe Harbor Statement
Forward-looking statements made herein are based on current expectations of Arrhythmia Research Technology, 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 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 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; 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 filings with the Securities and Exchange Commission.
For more information on Micron Products, Inc. or Arrhythmia Research Technology, Inc., contact:
CONTACT: Investor and Media Contact: Deborah K. Pawlowski Kei Advisors LLC 716.843.3908 dpawlowski@keiadvisors.com Company Contact: Derek T. Welch Chief Financial Officer 978.345.5000
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