Caterpillar of Chile Selects SI Technologies' Equipment For Copper Mining Operation.Business Editors TUSTIN, Calif.--(BUSINESS WIRE)--July 31, 2000 SI Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SISI SISI short increment sensitivity index. ), which designs, manufactures and markets high-performance industrial sensors, weighing and factory automation equipment and systems, and related products, today announced that Caterpillar of Chile has selected SI/Allegany Technology, a subsidiary of SI Technologies, Inc., to supply a one million pound capacity MT 1000 Mining Truck Scale to Finning S.A.'s Santiago copper mining operation in that country. "Caterpillar's selection of SI/Allegany equipment reinforces our leadership position as a global supplier of 'special application' industrial scales and weighing systems," stated John Riley, President of SI/Allegany Technology, Inc. "The order illustrates the progress which SI Technologies has made in the development of cross-selling synergies among its subsidiaries as a result of the business combinations announced last year. As a result of such business combinations, SI/Allegany Technology has emerged as a world leader in dynamic and mobile weighing equipment and systems." The MT 1000 system will be utilized by Caterpillar's newest and largest off highway truck, the model 797, and requires a total of four weighing bridges. The Full Function digital indicator supplied with this system has the ability to read individual scale pads, axle axle Pin or shaft on or with which wheels revolve; with fixed wheels, one of the basic simple machines for amplifying force. Combined with the wheel, in its earliest form it was probably used for raising weights or water buckets from wells. weights, and/or total vehicle weights. The unique system, which has been designed to work with four weigh bridges A weigh bridge, also commonly known as a weighbridge or truck scale is a device for weighing loads carried by road or rail wagons. It is a very heavy duty weighing scale which can weigh the vehicle both empty and when loaded and thus calculate the load carried by the vehicle. and one indicator, can be easily transported to other locations which may require only two of the four weigh bridges, while utilizing the same single indicator. Finning S.A. will use this system to measure its output both before and after the crushing process to prohibit overloading In programming, the ability to use the same name for more than one variable or procedure, requiring the compiler to differentiate them based on context. (language) overloading - (Or "Operator overloading"). the massive 797, prolonging both tire and vehicle life while maximizing production efficiency. SI Technologies' MT 1000 is the world's lightest-weight portable platform scale. Similar installations are currently in use in Brazil, Mexico and Peru. SI Technologies, Inc. is a rapidly growing designer, manufacturer and marketer of high-performance industrial sensors, weighing and factory automation equipment and systems. Its proprietary products enjoy leading positions in their respective markets, while sharing common technologies, manufacturing processes, and customers. Recent acquisitions have diversified the Company's revenue base and positioned SI Technologies as a consolidator of technologies, products and companies which are involved in the handling, measurement and inspection of goods and materials. SI Technologies' products are used throughout the world in a variety of industries, including aerospace, aviation, food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. and packaging, forestry, manufacturing, mining, transportation, warehousing/distribution, and waste management. The Company is headquartered in Tustin, California Tustin is a city in Orange County, California, United States. As of the 2006 census, the city had a total population of 70,871. The city is located next to the county seat, Santa Ana, and does not include the Tustin Foothills. , and its common stock trades on Nasdaq under the symbol "SISI". This press release includes statements which may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. |
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