TORONTO, ONTARIO — (Marketwire) — 07/23/12 — Artaflex Inc. (TSX VENTURE: ATF) (“Artaflex”), further to its press release on July 17, 2012, wishes to provide financial details relating to MTI International, Inc. (“MTI”), a U.S. based company located in Milwaukee, Wisconsin operating in the electronics manufacturing services (EMS) industry. Artaflex intends to acquire MTI pursuant to the previously announced definitive agreement and plan of merger under Delaware laws with an indirect wholly-owned subsidiary of Artaflex. MTI is debt free with net sales of US$18,183,908, net income of US$1,497,204, total assets of US$5,382,757 and total liabilities of US$3,437,981 for the year ended December 31, 2011 as shown in its audited annual financial statements for that period.
About Artaflex:
Artaflex is a specialist at delivering integrated product solutions and support to the global technology and electronics industry. As a leading global provider of complete Electronics Manufacturing Services (EMS), Artaflex offers world class manufacturing facilities and global partners throughout Canada, the United States, Israel and China, allowing Artaflex to provide its customers the flexibility and scalability to competitively achieve total solutions to their present and future electronics outsourcing needs. Visit Artaflex at: .
About MTI:
MTI International, Inc. is a leading provider of electronic manufacturing services to aerospace, defense, medical, industrial, and automotive companies. It provides end-to-end manufacturing solutions from new product introduction through box-build product manufacturing while providing flexibility and support to its customers- operations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO SUCH MATTERS AS EXPECTED FINANCIAL PERFORMANCE, BUSINESS PROSPECTS, TECHNOLOGICAL DEVELOPMENTS, DEVELOPMENT ACTIVITIES AND LIKE MATTERS. THESE STATEMENTS INVOLVE RISK AND UNCERTAINTIES, INCLUDING BUT NOT LIMITED TO RISK FACTORS DESCRIBED IN DOCUMENTS FILED WITH REGULATORY AUTHORITIES. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE PROJECTED AS A RESULT OF THESE RISKS AND SHOULD NOT BE RELIED UPON AS A PREDICTION OF FUTURE EVENTS. THE CORPORATION UNDERTAKES NO OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER THE DATE ON WHICH SUCH STATEMENT IS MADE, OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
Contacts:
Artaflex Inc.
Paul Walker
Chief Executive Officer
905-479-0148
Artaflex Inc.
Frank Skerlj
Chief Financial Officer
905-754-1036
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