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Press Release

Schmitt Industries Announces CFO Appointment

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Nov 6, 2020

PORTLAND, Ore., Nov. 6, 2020 /PRNewswire/ -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the "Company" or "Schmitt") is pleased to announce the appointment of Philip Bosco, CPA, as Chief Financial Officer ("CFO") of the Company, effective December 1, 2020.

"We are excited to welcome Philip to the Schmitt team. Philip comes with a wide range of financial experience across a diverse set of industries and companies, including start-ups, turnaround situations, and established organizations. Philip has a proven ability to drive financial improvements through his process control experiences and his strategic and commercial mindset," said Michael Zapata, Schmitt's CEO.

Mr. Bosco has over 25 years of financial experience with extensive hands-on experience in wide breadth of industries. Prior to joining Schmitt, Mr. Bosco served as CFO of Americas for Intega Group Limited, a publicly held company, with Americas division generating $200M of revenue and including 1,100 staff and over 50 offices. Mr. Bosco received a Bachelor of Science from Marquette University and his Master of Business Administration from University of Houston.

"On behalf of the Board, I'd like to thank Jamie Schmidt for his commitment and dedication to the team as he stepped into the CFO position during a pivotal phase of Schmitt's transition and growth. Jamie has been critical in the past year as he has overseen the successful SBS transaction, the growth and establishment of the Schmitt finance team, and the successful acquisition of Ample Hills Creamery. Jamie will continue to serve the company in a corporate development role," stated Mr. Zapata.

About Schmitt Industries, Inc.

Schmitt Industries, Inc., founded in 1987, designs, manufactures and sells high precision test and measurement products, solutions and services through its Acuity® and Xact® product lines. Acuity provides laser and white light sensor distance measurement and dimensional sizing products, and our Xact line provides ultrasonic-based remote tank monitoring products and related monitoring revenues for markets in the Internet of Things environment. The Company also owns and operates Ample Hills Creamery, a beloved ice cream manufacturer and retailer based in Brooklyn, NY.

For more information contact:

Michael R. Zapata, President and CEO

Jamie Schmidt, CFO and Treasurer

(503) 227-7908 or visit our website at www.schmitt-ind.com 


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SOURCE Schmitt Industries, Inc.