NORTHVALE, N.J., Aug. 9, 2017 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (OTCQB: ADMT), has entered into a multi-faceted Memorandum of Understanding (the "Memorandum") with Solution To Products, Ltd. ("S2P").
S2P, based in Israel and China, specializes in the development and production of high performance plastic, aluminum, metal and silicon parts for medical equipment as well as for general electronics, telecommunications, electro-optics and consumer products. Under the Memorandum, ADMT will be able to utilize the efficiencies and expertise of S2P in ADMT's product development and production activities for its own proprietary medical device products as well as for customers. This relationship expands ADMT's engineering, development and production capabilities as well as providing S2P with the ability to offer its customers ADMT's regulatory expertise as well as a facility in a US location for engineering and production resources.
With respect to expanding ADMT's market presence, the Memorandum provides that S2P can now offer to its non-US based customers the ability to enter the US market utilizing ADMT's FDA-registered medical device production facility, engineering, regulatory and manufacturing services.
Andre' DiMino, ADMT CEO stated, "We look forward to this new relationship that has significant benefits for both of our companies. I am impressed with the management of S2P and their knowledge and experience in this field. Combining that with our capabilities, provides significant opportunities for growth."
Gil Lederman, Co-CEO of S2P stated, "We view the collaboration with ADMT as an important expansion of S2P's capabilities. Now we can offer our customers additional services, such as FDA regulatory services as well as, to our non-US customers, an FDA-registered production facility, a US-base to jumpstart their business in North America."
Shmuel Shaked, Co-CEO of S2P added, "Both S2P and ADMT's US and International customers can benefit from the expanded high-quality, cost effective services in the US, China and Israel."
In consideration of the broad potential application of this relationship to the diverse opportunities to be explored between both companies, the Memorandum provides that specific financial agreements will be crafted for each project to be addressed by ADMT and S2P, on a case-by-case basis.
ADMT is a diversified, technology-based developer and manufacturer of innovative technologies and products. Its core competency is its ability to conceptualize a technology, bring it through development, into manufacturing and commercialization, all in-house. ADMT has three areas of activity: Proprietary Electronic Medical Devices; Design, Engineering, Regulatory and Manufacturing Services and Eco-Friendly, Safe, Water-Based Formulations. The Company's headquarters, laboratories, FDA-Registered medical device and manufacturing operations are located in Northvale, NJ. ADMT's multi-disciplinary team of engineers, researchers and technologists utilize advanced technology infrastructure, such as 3-D solid prototyping, precision instrumentation and specialized software and peripherals, for the research, development and commercialization of diversified technologies. Additional information is available at the Company's websites - admtronics.com and concepttoquantity.com.
Except for historical information contained herein, the matters set forth in this news release are "forward looking" statements (as defined in the Private Securities Litigation Reform Act of 1995), including statements regarding future revenue growth and performance. Although ADMT believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could contribute to such differences include those described from time to time in ADMT's filings with the SEC, news releases and other communications. The Company assumes no obligation to update the information contained in this news release.
SOURCE ADM Tronics Unlimited, Inc.