ADM Tronics Expands Medical Device Research and Manufacturing Facilities
July 29 2019 - 11:10AM
InvestorsHub NewsWire
Northvale, NJ -- July 29, 2019 -- InvestorsHub NewsWire
-- ADM Tronics Unlimited, Inc.
(OTCQB: ADMT) is expanding research and
manufacturing areas in its Northvale facility due to increased
R&D activities and projected increases in customer contract
manufacturing orders. At fiscal year end March 31, 2019 ADMT
reported an increase in R&D expenditures of 27% and a backlog
of $730,000 in customer orders, which prompted management’s
decision to increase R&D and manufacturing areas.
“This
investment in our infrastructure will provide additional dedicated
research space as well as increased manufacturing area for
increasing orders from customers projected over the next 6 to 12
months and beyond,” stated Andre' DiMino, CEO of ADMT. “Our
customers have advised us that they anticipate increased orders and
we have just recently secured new contract manufacturing
customers.”
Timothy Gilmartin, Vice President Production of ADMT, stated,
“This is an exciting time for our contract manufacturing activities
as production orders are projected to increase and we have
successfully secured new medical device manufacturing
projects. The new manufacturing area will greatly assist us
in efficiently handling increased production needs.”
The higher R&D expenditures are related to continued
development of the Company’s suite of proprietary medical
technologies. In addition to contract R&D and engineering
development services for clients, ADMT develops its own proprietary
medical technologies. The Company has recently filed two new
patent applications for developments in its medical
technologies.
ADMT specializes in electronic medical device design,
development and manufacturing for diagnostic and therapeutic
medical technologies at its FDA-Registered Medical Device
Manufacturing Facility in Northvale, NJ. ADMT has experience in the
development of all three FDA classes of medical devices with a
particular emphasis on electronic therapeutic modalities. The
Company is a one-stop source for complete design, engineering,
regulatory and manufacturing services, specifically related to US
and international medical device development. Its capability
in bringing a medical device from the conceptual stage, through
design, development and regulatory stages into production, all
in-house, differentiates ADMT from firms which supply only portions
of those services.
Additional information is available at the Company’s website
- admtronics.com.
About ADMT
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 Business Segments: Proprietary
Electronic Medical Devices; Design, Engineering, Regulatory and
Manufacturing Services; and, Eco-Friendly, Safe, Water-Based
Formulations. The Company’s headquarters, laboratories,
medical device and manufacturing operations are located in
Northvale, New Jersey. 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.
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). 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.
Andre DiMino
201-739-6000
andre@admtronics.com
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