SI/Allegany Technology Appoints New President
24 May 2000
SI/Allegany Technology Appoints New President
TUSTIN, Calif.--May 24, 2000--SI Technologies, Inc. , which designs, manufactures and markets high-performance sensors, weighing and factory automation equipment and systems, and related products today announced the promotion of John M. Riley from General Manager to President of its newly consolidated weighing equipment business unit, SI/Allegany Technology."During his fifteen year career with Allegany Technology, John has demonstrated his knowledge, skill and ability to lead in a variety of positions as he moved up through the Company," stated Rick A. Beets, President and Chief Executive Officer of SI Technologies, Inc. "Last October, as Vice President of Marketing and Sales, John was promoted to interim General Manager at SI/Allegany. During the last eight months, he has done a superb job of successfully reengineering the organization with the help of his team of Allegany managers, which have more than 120 years of combined experience with the Company. This experienced management team developed a strategy that improved business operations significantly and increased revenue from $4 million in 1998 to $14 million in 1999. Today, under John's leadership, SI/Allegany has achieved a level of performance that is unparalleled in its thirty-year history. "
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, forestry, manufacturing, mining, transportation/distribution and waste management. The Company is headquartered in Tustin, California, and its common stock is traded on The Nasdaq Stock Market(R) under the symbol "SISI".
Any forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act 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.