Micron Solutions, Inc. Announces Resignation of CFO
29 June 2021 - 5:33AM
Micron Solutions, Inc. (OTCQB: MICR) (the
“
Company”), a diversified contract manufacturing
organization, through its wholly-owned subsidiary, Micron Products,
Inc., producing highly-engineered, innovative components requiring
precision machining and injection molding, announced that Wayne
Coll, Chief Financial Officer, Treasurer and Secretary, will be
leaving the Company on July 16, 2021. The Company thanks Mr. Coll
for his many significant contributions to the Company over the past
two years, including the recently closed sale-lease back
transaction and updates to the Company’s business reporting and
systems.
CEO Bill Laursen commented, “Wayne’s leadership
and successful efforts in enhancing our business reporting and
systems, and the recent completion of the sales-lease back
transaction will be an important part of Micron’s success going
forward and part of Wayne’s legacy.”
“During the two years I have been with Micron
Solutions, the Company has gone through a significant
transformation, both in its business culture and in its business
systems, despite mostly occurring during the Covid-19 pandemic.
With the recent close of the sale-leaseback transaction, my role in
the Company is shifting from implementation to maintenance, and
this has enabled me to make the decision to move to a new
challenge,” said Wayne Coll, Chief Financial Officer.
The Company has initiated a search for Mr.
Coll’s replacement. At this time, the Company has not appointed an
interim replacement for Mr. Coll.
About Micron Solutions, Inc.
Micron Solutions, Inc., through its wholly-owned
subsidiary, Micron Products, Inc., is a diversified contract
manufacturing organization that produces highly-engineered,
innovative medical device components requiring precision machining
and injection molding. The Company also contract manufactures
components, devices and equipment for military, law enforcement,
industrial and automotive applications. In addition, the Company is
a market leader in the production and sale of silver/silver
chloride coated and conductive resin sensors used as consumable
component parts in the manufacture of integrated disposable
electrophysiological sensors. The Company’s strategy for growth is
to build a best-in-class contract manufacturer with a specialized
focus on plastic injection molding and highly-engineered medical
devices and components requiring precision machining.
The Company routinely posts news and other important information
on its website: http://www.micronsolutions.com.
Safe Harbor Statement
Forward-looking statements made herein are based
on current expectations of Micron Solutions, Inc. (“our” or the
“Company”) that involve a number of risks and uncertainties and
should not be considered as guarantees of future performance.
Therefore, actual results may differ materially from what is
expressed in or implied by these forward-looking statements. The
factors that could cause our actual results of operations,
financial condition, performance or achievements to be affected
materially include, but are not limited to, our ability to obtain
and retain order volumes from customers who represent significant
proportions of net sales; our ability to maintain our pricing
model, offset higher costs with price increases and/or decrease our
cost of sales; variability of customer delivery requirements; the
level of and ability to generate sales of higher margin products
and services; our ability to manage our level of debt and
provisions in any debt agreements which could make the Company
sensitive to the effects of economic downturns and limit our
ability to react to changes in the economy or our industry; failure
to comply with financial and other covenants in any credit
facility; our ability to enter into a new credit facility on terms
of commercially reasonable terms or at all; the impact on the
Company’s financial results due to economic uncertainty and
disruption including, but not limited to, recent events concerning
COVID-19; reliance on revenues from exports and impact on financial
results due to economic uncertainty or downturns in foreign
markets; volatility in commodity and energy prices and our ability
to offset higher costs with price increases; continued availability
of supplies or materials used in manufacturing at competitive
prices; variations in the mix of products sold; and the amount and
timing of investments in capital equipment, sales and marketing,
engineering and information technology resources. The Company
assumes no obligation to update the information included in this
press release, whether as a result of new information, future
events or otherwise. More information about the Company's financial
results is included in the Company's Quarterly Report for the
quarter ended March 31, 2021 and our most recent Annual Report for
the fiscal year ended December 31, 2020, which are posted at
https://www.otcmarkets.com/stock/MICR/ and
https://micronsolutions.com/.
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For more information, contact: |
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Mr. William Laursen |
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Chief Executive Officer |
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978.345.5000 |
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