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Press Release

Schmitt Industries Announces Annual Meeting Date

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Aug 24, 2018

PORTLAND, Ore., Aug. 24, 2018 (GLOBE NEWSWIRE) -- Schmitt Industries (Nasdaq: SMIT) announced today that its Annual Meeting of Shareholders will be held on Friday, October 12, 2018 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 two director nominees to serve three-year terms expiring in 2021, (2) approve, on an advisory basis, the compensation of the Company’s Named Executive Officers, (3) transact such other business as may properly come before the Annual Meeting.

Shareholders of record as of the close of business on August 24, 2018 are entitled to receive notice of, attend and vote at the Annual Meeting of Shareholders.

About Schmitt Industries

Schmitt Industries, Inc. (the Company) 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. 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. For the Measurement Segment, the Company has two core product lines: the Acuity® product line, which consists of sales of laser and white light sensor distance measurement and dimensional sizing products; and the Xact® product line, which consists of sales of remote tank monitoring products that measure the fill levels of tanks holding propane, diesel and other tank-based liquids and revenues from the related monitoring services associated with the transmission of data from the tanks to a secure web site.

503/227-7908 ● FAX 503/223-1258
Company Contact: Ann Ferguson, CFO and Treasurer

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Source: Schmitt Industries, Inc.