NEWTON, Mass.--(BUSINESS WIRE)--MFIC Corporation (OTCBB: MFIC) today announced that Michael C. Ferrara has been appointed Chief Executive Officer and a member of the Company’s Board of Directors. Mr. Ferrara was most recently President and CEO of X-Rite where he led the corporation’s reemergence as the global leader of its industry. X-Rite, a $352 million market capitalization NASDAQ-traded company (XRIT), is the global leader in color science and technology, developing, manufacturing and marketing innovative color management solutions for industrial, commercial and retail applications. Under Mr. Ferrara’s leadership, X-Rite grew organically to achieve record-level revenues and earnings through the introduction of 61 new products in five years, distribution gains and industry-changing merger and acquisitions in the color technology space-including the acquisition of Amazys Holding AG, which was awarded in 2006 “The International Deal of the Year” by The M&A Advisor™. Mr. Ferrara also has extensive experience in building marketing and distribution channels with strategic partners in markets throughout the world, including Asia-Pacific and EMEA—areas of considerable focus for MFIC moving forward.
