Scientific Technologies (NASDAQ:STIZ)
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Scientific Technologies Incorporated ("STI" or the
"Company") (NASDAQ:STIZ) announced today that it had set the close of
business on August 24, 2006, as the record date for determining the
STI shareholders entitled to receive notice of, and to vote at, the
special meeting of STI shareholders to approve and adopt the merger
agreement and approve the merger related to the acquisition of STI's
Safety Products Group ("SPG") by Omron Corporation ("Omron"). The date
for the special meeting is expected to be September 18, 2006. STI and
Omron expect to close the transaction as soon as practicable following
the special meeting.
About Omron Corporation
Omron Corporation, headquartered in Kyoto, Japan, is a global
leader in the field of automation with approximately $6 billion in
annual revenues. Established in 1933 and headed by President and CEO
Hisao Sakuta, Omron has more than 26,000 employees in 35 countries
working to provide products and services to customers in a variety of
fields including industrial automation, electronic components, social
systems (ticket gate machines, ticket vending machines and traffic
control) and healthcare. Further information on Omron is located at
www.omron.com.
About Scientific Technologies Inc.
Scientific Technologies Inc. ("STI") is a North American leading
provider of automation safeguarding products and services through its
Safety Product Group ("SPG"). STI's Optical Sensor Division ("OSD"),
part of the SPG, provides safety products that are used to protect
workers around machinery, automated equipment and industrial robots.
STI's products serve a wide variety of applications and markets,
including semiconductor, automotive, electronics manufacturing,
packaging and consumer markets. OSD also manufactures sensors used in
factory automation and vehicle separating systems. STI's Machine
Services Division ("MSD"), also part of the SPG, provides safety
services such as safeguarding equipment installations, machine safety
assessments, and the design and custom fabrication of guarding
solutions. MSD specializes in machinery services including the repair,
relocation, installation and service of fabrication machinery. MSD
serves customers in a variety of industries, including metal
fabrication, aerospace, electronics, building materials, automotive
and food processing. Further information on SPG is located at
www.sti.com and www.stiscanners.com.
STI's Automation Products Group ("APG") serves the factory
automation, semiconductor, transportation, oil and gas, consumer and
food processing industries with a diversified offering of sensing
technologies. Products include level, flow, pressure sensing,
positioning transducers, and ultrasonic sensors and controls. Further
information is available at APG's web site located at
www.automationsensors.com.
STI is controlled by a parent company, Scientific Technology
Incorporated, that owns approximately 86% of its common stock.
Scientific Technology Incorporated is controlled by members of the
Lazzara family.
Additional Information and Where to Find It
Scientific Technologies Incorporated (the "Company") intends to
file a definitive proxy statement in connection with the transactions
proposed in the Merger Agreement, including the Merger. A copy of the
definitive proxy statement will be mailed to the shareholders of the
Company.
The Company's Shareholders are urged to read the definitive proxy
statement and other relevant materials when they become available
because they will contain important information about the proposed
transactions. Investors and security holders may obtain free copies of
these documents (when they are available) and other documents filed
with the Securities and Exchange Commission (the "SEC") at the SEC's
web site at www.sec.gov.
In addition, investors and security holders may obtain free copies
of the documents filed with the SEC by the Company by going to the
Company's Investor Relations page on its corporate website at
www.sti.com/financial/index.htm, by contacting the Company in writing
at 6550 Dumbarton Circle, Fremont, California 94555 or by calling the
Company at 510-608-3400. In addition to the proxy statement, the
Company files annual, quarterly and current reports, proxy statements
and other information with the SEC. Copies of any such reports,
statements or other information filed by the Company are available at
the SEC public reference rooms.
Please call the SEC at 800-SEC-0330 for further information on
the public reference rooms. The Company's SEC filings are also
available to the public from commercial document-retrieval services
and at the website maintained by the SEC at http://www.sec.gov.
In addition, the Company and its officers and directors may be
deemed to be participants in the solicitation of proxies from the
Company's shareholders with respect to the proposed transactions. A
description of any interests that the Company's officers and directors
have in the acquisition will be available in the definitive proxy
statement. Information concerning the Company's directors and
executive officers is set forth in the Company's Annual Report on Form
10-K/A filed with the SEC on May 1, 2006.
Cautionary Statement About Forward-Looking Statements
Statements in this news release that are not historical facts are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements include, but are not limited to, statements regarding the
date of the special meeting and expected timing of the closing.
Readers are cautioned that these forward looking statements involve
certain risks and uncertainties. These risks and uncertainties, which
could cause STI's results to differ materially from the forward
looking statements include: economic and political conditions in
domestic and international markets; declining market demand for
industrial safety and security products generally; introduction or
increased demand for alternative products; potential errors, defects,
design flaws or other problems with STI's products; changes in
regulations regarding industrial safety and security products; and
other risks detailed from time to time in STI's Security and Exchange
Commission filings and reports, including STI's annual report filed on
Form 10-K and quarterly reports filed on Form 10-Q. STI disclaims any
obligation to update any information contained in any forward looking
statement.