INTT inTest Corporation

Ambrell Honored for Enabling Manufacturing Excellence

inTEST Corporation (NYSE American: INTT), an independent designer, manufacturer and marketer of thermal management products and semiconductor automatic test equipment (ATE) interface solutions, today announced that its thermal segment subsidiary, Ambrell Corporation, has been recognized as a Manufacturing Leadership (ML) Awards winner for its outstanding achievement in the category of “Operational Excellence.”

“We are honored to receive this prominent award recognizing Ambrell’s manufacturing initiative,” said Tony Mazzullo, President of Ambrell.  “In 2018, Ambrell’s Operations department undertook a Strategic Process Improvement Initiative with a goal to reduce delivery lead times and to simultaneously improve on-time delivery by 50%.  Delivery performance is considered by our customers to be of primary importance.”

Mazzullo added, “The initiative required collaborative participation across the organization.  The team members followed common process improvement techniques including detailed process mapping, and the results have been impressive.  Ambrell has achieved the project delivery goals along with other significant improvement in key operational processes.  Customers appreciate the faster, consistent delivery of our induction heating solutions.  The initiative also resulted in a high level of employee satisfaction.”

“This is the second year in a row that Ambrell has been recognized for excellence by the ML Council,” commented James Pelrin, inTEST President and CEO, “and we are very proud of their achievements.  The activities undertaken in support of this initiative have had a very positive impact, and Ambrell has made solid contributions to inTEST’s operations, further supporting inTEST’s position as a global leader in today’s marketplace.  2018 was a banner year for Ambrell, with bookings up 18% from full year 2017 bookings – the highest bookings ever achieved in the history of Ambrell – and record shipments for the year, up 25% from full year 2017 revenues.  In light of these results, the investments made in technology and manufacturing are especially gratifying as they played a key role in benefitting our customers.  The record shipments would not have been possible without the additional floor space, combined with the efficiencies gained in manufacturing, at the new Rochester, NY facility, which we opened in 2018.  The 80,000 square foot manufacturing facility doubled the size of the previous location and included an all-new Applications Laboratory, as well as a highly efficient manufacturing floor to maximize throughput.”

Jeff Moad, Director of the Manufacturing Leadership Awards, noted, “With this recognition, Ambrell is again included in an elite group of world-class manufacturing companies that are redefining excellence and shaping the future of global manufacturing, bringing fundamental changes to the way we live.  Ambrell plays a key enabling role, accelerating the transformative era of thermal processing technologies, and delivering significant value to the Company’s global customer base.”

Ambrell will be recognized at the 15th Annual Manufacturing Leadership Awards Gala, which is to be held on the last day of the Manufacturing Leadership Summit, June 10-12, 2019 at the Hyatt Regency Huntington Beach Resort and Spa in Huntington Beach, CA.

About the Manufacturing Leadership AwardsThe Manufacturing Leadership Awards, now in their 15th year, honor manufacturing companies and individual manufacturing leaders that are shaping the future of global manufacturing. Winning projects and individual manufacturing leaders have demonstrated achievement in one of a wide range of categories, and are chosen by a panel of expert judges for results that have delivered clear and compelling value, return on investment, and other tangible outcomes. There will be several winners in each category, including one High Achiever’s Award in each category, as well as a 2019 Manufacturer of the Year for both small and large enterprises. Also unveiled at the Gala will be the ML Awards Manufacturing Leader of the Year and Lifetime Achievement Award winners. 

The projects and individuals on the list of ML Awards winners represent small and large enterprises in a wide range of manufacturing markets. They all leverage best-in-class processes, technologies, and engaged teams to set themselves apart from the competition. Winners for 2019 include Boeing, Cisco Systems, Lockheed Martin, Merck, and Peterbilt.

The theme for the 15th Annual Manufacturing Leadership Summit is “Strategies to Deliver Business Value Through Manufacturing 4.0.” The event enables senior-level executives in all aspects of manufacturing an opportunity to network with and learn from the best minds in the industry.

For more information on the Manufacturing Leadership Awards or the Manufacturing Leadership Summit, please go to www.mlsummit.com.

About the National Association of ManufacturersThe National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states.  Manufacturing employs more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of all private-sector research and development in the nation.  The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States.

The NAM’s world-class staff of policy experts provides unmatched access and information on the key issues affecting your business and bottom line.  We are on the front lines of a wide range of policy battles, from immigration reform and labor relations, to energy and the environment, to trade policy and taxes.  At every turn, we are working on behalf of manufacturers in America to advance policies that help manufacturers do what they do best: create economic strength and jobs.  www.nam.org

About inTEST CorporationinTEST Corporation designs and manufactures engineered solutions for ATE and other electronic test, as well as industrial process applications.  Our products are used by semiconductor manufacturers to perform development, qualifying and final testing of integrated circuits (ICs) and wafers, and for other electronic test across a range of industries including the automotive, defense/aerospace, energy, industrial and telecommunications markets.  We offer induction heating products for joining and forming metals in a variety of industrial markets, including automotive, aerospace, machinery, wire & fasteners, medical, semiconductor, food & beverage, and packaging.  Specific products include temperature management systems, induction heating products, manipulator and docking hardware products, and customized interface solutions.  We have established strong relationships with our customers globally, which we support through a network of local offices.  For more information visit www.intest.com.

Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements do not convey historical information, but relate to predicted or potential future events and financial results that are based upon management's current expectations.  These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, as well as other risk factors set forth from time to time in our SEC filings, including, but not limited to, our periodic reports on Form 10-K and Form 10-Q.  inTEST undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

Contacts
inTEST Corporation                                                   
Hugh T. Regan, Jr.                                                       
Treasurer and Chief Financial Officer                         
Tel: 856-505-8999                                                       

Investors:
Laura Guerrant-Oiye, Principal
Guerrant Associates
lguerrant@guerrantir.com 
Tel: (808) 960-2642