Schmitt Industries, Inc. - Grinding Control, Surface Measurement, Laser Sensors and Remote Propane Tank Monitoring

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Press Release

Schmitt Industries Announces Annual Meeting Date

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Aug 17, 2017

PORTLAND, Ore., Aug. 17, 2017 (GLOBE NEWSWIRE) -- Schmitt Industries (Nasdaq:SMIT) announced today that its Annual Meeting of Shareholders will be held on Friday, October 6, 2017 at 3:00 p.m. local time, at the Company’s headquarters at 2765 NW Nicolai St., Portland, Oregon.

At the meeting, shareholders will be asked to (1) elect the director nominee to serve a three year term expiring in 2020, (2) approve, on an advisory basis, the compensation of the Company’s Named Executive Officers, (3) approve an increase in the number of shares of common stock issuable under the 2014 Equity Incentive Plan by 200,000, and (4) transact such other business as may properly come before the Annual Meeting.  Shareholders of record as of the close of business on August 14, 2017 are entitled to receive notice of, attend and vote at the Annual Meeting of Shareholders.

About Schmitt Industries

Schmitt Industries, Inc. designs, manufactures and sells high precision test and measurement products for two main business segments: the Balancer segment and the Measurement segment. For the Balancer segment, the Company designs, manufactures and sells computer-controlled vibration detection, balancing and process control systems for the worldwide machine tool industry, particularly for grinding machines. For the Measurement segment, the Company designs, manufactures and sells laser and white light sensors for distance, dimensional and area measurement for a wide variety of commercial applications and ultrasonic measurement products that accurately measure the fill levels of tanks holding propane, diesel and other tank-based liquids and transmit that data via satellite to a secure web site for display and data management.  In addition, the Measurement segment includes the Company’s laser-based microroughness measurement products for the semiconductor wafer and hard disk drive industries and for other industrial applications and the Company’s laser-based surface analysis and measurement products for a variety of scientific applications. The Company also provides sales and service for Europe and Asia through its wholly owned subsidiary, Schmitt Europe Limited (SEL), located in Coventry, England and through its sales representative office located in Shanghai, China.

CORPORATE OFFICE: 2765 NW NICOLAI ST.● PORTLAND, OREGON 97210
503/227-7908 ● FAX 503/223-1258
Company Contact: Ann Ferguson, CFO and Treasurer

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Schmitt Industries, Inc.