MISSISSAUGA, Ontario, Oct. 17, 2007 (PRIME NEWSWIRE) -- The Board of Directors of D Mecatronics Inc. (Pink Sheets:DMTN) is pleased to announce that it has unanimously accepted the proposed buyout. The offer is for a buyout of all of the outstanding shares of the company for 0.49 per share in cash. The Board recommends that shareholders accept this offer.
"We believe the proposed price for the transaction is fair to D Mecatronics' shareholders. We intend to move quickly to complete the transaction. A shareholders' meeting will be held on November 28th in Toronto to vote on the offer. The location and time will be announced in a future PR," said Berardino Paolucci, Chairman and CEO.
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.