MISSISSAUGA, Ontario, Oct. 19, 2007 (PRIME NEWSWIRE) -- D Mecatronics Inc. (Pink Sheets:DMTN) is pleased to comment on recent activity in the trading of D Mecatronics stock.
"The company has received numerous calls this past week in regards to the buyout from Lesko Investment Company," said Berardino Paolucci, Chairman and CEO. "The volatility in the stock price should be attributed to speculators trying to profit on a short term basis from the buyout process. We intend to hold our shareholder meeting in November and move to complete the buyout transaction at that time. It is our belief that the stock should reflect the buyout price as we move closer towards the meeting date."
Furthermore Mr. Paolucci stated, "The Company principals are committed to the buyout process. All of our stock is restricted and we can only benefit from the buyout once it has been completed. Investors should also be made aware that the company has not compensated in cash or stock any organizations or groups to provide awareness for D Mecatronics during the recent run-up."
About D Mecatronics Inc.: (http://www.dmecatronics.com/)
D Mecatronics Inc. supplies components, integrated systems and robotic modules to the world's top ten automotive suppliers. Through independent subsidiaries the Company offers sector and technology specific solutions to enable our customers to dramatically accelerate time-to-market and revenue.
To date, the Company's primary activities include design, build and installation of tube-related automated systems used by automotive parts and assembly suppliers. The Company is currently offering products such as Seat Frame Systems, IP Tube systems and Integrated Bend-Weld Systems for the automotive industry.
The D Mecatronics Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2180
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 such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.