Consolidated Freightways Selects SI Technologies Equipment for Weight Verification Program.Business Editors TUSTIN, California--(BUSINESS WIRE)--April 10, 2000 SI Technologies, Inc. (Nasdaq: "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 Consolidated Freightways Consolidated Freight was the 3rd biggest trucking company in the US. In the 1930s they started their own truck manufacturing operation, Freightliner, now part of DaimlerChrysler. Corporation, the nation's third-largest less-than-truckload freight carrier, has selected SI/Allegany Technology, a subsidiary of SI Technologies, Inc., as the supplier of Lift Truck Weighing Systems for its Weight Verification Programs. The SI/Allegany Technology Lift Truck Weighing System consists of a scale integrated into a forklift, a bar code scanning unit, a display and storage meter, and an infrared transmission data unit. As freight is moved by fork lifts, the System provides a "Legal for Trade" weight to be recorded and downloaded via infrared transmission technology to a printer, which generates a reweigh certificate for each shipment. "Other scale companies offer `Legal for Trade' lift truck scales Truck scales are large, floor mounted weighing systems that can weigh entire vehicles and their contents. As the American name implies, they frequently weigh entire trucks. In the United Kingdom, they are called Weighbridges. , and we have tested them all," stated Greg Roberts, Senior Manager, Weighing and Research, for Consolidated Freightways Corporation. "We chose SI/Allegany Technology based on the reliability of its equipment and the Company's commitment to superior customer service. In addition, SI/Allegany was able to incorporate specialized programming into its equipment, which allows us to accomplish certain specific objectives." Most freight companies Freight companies are companies that specialise in the moving ("forwarding") of freight, or cargo, from one place to another. They are divided into several sections, international freight forwarders--which ship goods from country to coutry or domestic freight forwarders (who ship have implemented weight verification programs in order to optimize the utilization of their equipment, while avoiding costly and potentially dangerous overload situations that can arise from inaccurate shipping weights. Lift Truck Weighing Systems offer a simple and cost-efficient tool for obtaining "Legal for Trade" weights as an integrated part of normal freight handling routines. Weight verification also assures proper invoicing. "We view Consolidated Freightways' selection of SI/Allegany equipment for its Weight Verification Program as an excellent confirmation of the economic benefit of our technology by the marketplace," commented Rick Beets, President and Chief Executive Officer of SI Technologies, Inc. "Creating customer profits though labor savings, revenue capture and general logistical lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation efficiencies represents a key strategic objective for all of our business units. We are assembling competencies and capabilities to strengthen our position as an industry leader in the industrial measurement and automation industry, and SI/Allegany's products, technology and superior customer service contribute significantly to the growing industrial measurement segment of our business." SI Technologies, Inc. designs, manufactures and markets high-performance industrial sensors, weighing and factory automation systems and related products. Recent acquisitions have diversified the Company's revenue base and positioned SI Technologies as an integrator of technologies, products and companies within the $70 billion industrial measurement and automation industries. The Company's goal is to become a global provider of devices, equipment and systems for the handling, inspection and measurement 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. , forestry, manufacturing, mining, transportation/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 is traded on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (R) under the symbol "SISI". Any 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. in this release 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. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including but not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, new products and technological developments, dependence upon third-party vendors and uncertainties related to customer purchases, and other risks detailed from time to time in the Company's periodic report filings with the Securities and Exchange Commission. |
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