SISI Nasdaq .99/1.02 this today:
(PR NEWSWIRE) MidSouth Investor Fund Acquires 9.3% Ownership in SI Technologies
MidSouth Investor Fund Acquires 9.3% Ownership in SI Technologies, Inc.
TUSTIN, Calif., Sept. 23 /PRNewswire-FirstCall/ --
SI Technologies, Inc. (Nasdaq: SISI), which designs, manufactures and markets
high-performance industrial sensors, weighing and factory automation equipment
and systems and related products, today reported that MidSouth Investor Fund
has purchased 334,300 shares of the Company's common stock
(approximately 9.3% of the total shares outstanding) from an undisclosed
previous investor. The Company is announcing this in response to shareholder
requests for information on the transaction, which was reported on financial
newswires on September 5, 2002.
MidSouth Investor Fund, which is headquartered in Atlanta, Georgia,
specializes in small- and micro-cap stocks. The fund's management states that
the purchase of SI Technologies common stock was made for investment purposes.
"Our fund's primary focus is upon 'value' stocks," commented Buzz Heidtke,
Portfolio Manager for MidSouth Investor Fund. "SI Technologies has earned
$0.20 per share during the first nine months of fiscal 2002, and with the
stock selling below $1.00 and substantially below book value, we felt it was
an appropriate addition to our investment portfolio."
SI Technologies, Inc. is a leading designer, manufacturer and marketer
high-performance industrial sensors/controls, weighing and factory automation
systems and related products. Its proprietary products enjoy leading
positions in their respective markets, while sharing common technologies,
manufacturing processes, and customers. The Company is positioned as an
integrator of technologies, products and companies that are involved in the
handling, measurement and inspection of goods and materials. SI Technologies'
products are used throughout the world in a variety of industries, including
aerospace, aviation, food processing and packaging, forestry, manufacturing,
mining, transportation, warehousing/distribution, and waste management. The
Company is headquartered in Tustin, California, and its common stock trades on
Nasdaq under the symbol "SISI". |
