ADM Tronics Expands Medical Device Research and Manufacturing Facilities
29 July 2019
Northvale, NJ, July 29, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- 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.
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.