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Caterpillar of Chile Selects SI Technologies' Equipment For Copper Mining Operation TUSTIN, Calif.--(BUSINESS WIRE)--July 31, 2000--SI Technologies, Inc. (NASDAQ:SISI - news), which designs, manufactures and markets high-performance industrial sensors, weighing and factory automation equipment and systems, and related products, today announced that Caterpillar of Chile has selected SI/Allegany Technology, a subsidiary of SI Technologies, Inc., to supply a one million pound capacity MT 1000 Mining Truck Scale to Finning S.A.'s Santiago copper mining operation in that country. ``Caterpillar's selection of SI/Allegany equipment reinforces our leadership position as a global supplier of 'special application' industrial scales and weighing systems,'' stated John Riley, President of SI/Allegany Technology, Inc. ``The order illustrates the progress which SI Technologies has made in the development of cross-selling synergies among its subsidiaries as a result of the business combinations announced last year. As a result of such business combinations, SI/Allegany Technology has emerged as a world leader in dynamic and mobile weighing equipment and systems.'' The MT 1000 system will be utilized by Caterpillar's newest and largest off highway truck, the model 797, and requires a total of four weighing bridges. The Full Function digital indicator supplied with this system has the ability to read individual scale pads, axle weights, and/or total vehicle weights. The unique system, which has been designed to work with four weigh bridges and one indicator, can be easily transported to other locations which may require only two of the four weigh bridges, while utilizing the same single indicator. Finning S.A. will use this system to measure its output both before and after the crushing process to prohibit overloading the massive 797, prolonging both tire and vehicle life while maximizing production efficiency. SI Technologies' MT 1000 is the world's lightest-weight portable platform scale. Similar installations are currently in use in Brazil, Mexico and Peru. SI Technologies, Inc. is a rapidly growing designer, manufacturer and marketer of high-performance industrial sensors, weighing and factory automation equipment and systems. Its proprietary products enjoy leading positions in their respective markets, while sharing common technologies, manufacturing processes, and customers. Recent acquisitions have diversified the Company's revenue base and positioned SI Technologies as a consolidator of technologies, products and companies which 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''. This press release includes statements which may constitute ``forward-looking'' statements, usually containing the words ``believe'', ``estimate'', ``project'', ``expect'' or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. Contact: For further information, please contact: SI Technologies, Inc., Tustin Rick A. Beets, President and CEO 714/505-6483 or RJ Falkner & Company, Inc., Crested Butte, CO Investor Relations Counsel 800/377-9893 E-mail: info@rjfalkner.com | ||||||||||||||
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