PORTLAND, Ore., July 27, 2016 (GLOBE NEWSWIRE) -- Schmitt Industries (Nasdaq:SMIT) announced today that its Annual Meeting of Shareholders will be held on Friday, October 7, 2016 at 3:00 p.m. local time, at the Company’s headquarters at 2765 NW Nicolai St., Portland, Oregon.
At the meeting, shareholders will be asked to (1) elect two directors to serve three year terms expiring in 2019, (2) approve, on an advisory basis, the compensation of the Company’s Named Executive Officers, and (3) transact such other business as may properly come before the Annual Meeting. Shareholders of record as of the close of business on August 15, 2016 are entitled to receive notice of, attend and vote at the Annual Meeting of Shareholders.
About Schmitt Industries
Schmitt Industries, Inc. designs, manufactures and sells high precision test and measurement products for two main business segments: the Balancer segment and the Measurement segment. For the Balancer segment, the Company designs, manufactures and sells computer-controlled vibration detection, balancing and process control systems for the worldwide machine tool industry, particularly for grinding machines. For the Measurement segment, the Company designs, manufactures and sells laser and white light sensors for distance, dimensional and area measurement for a wide variety of commercial applications, laser-based microroughness measurement products for the semiconductor wafer and hard disk drive industries and for other industrial applications, laser-based surface analysis and measurement products for a variety of scientific applications, and ultrasonic measurement products that measure the fill levels of tanks holding propane, diesel and other tank-based liquids and transmit that data via satellite to a secure web site for display. The Company also provides sales and service for Europe and Asia through its wholly owned subsidiary, Schmitt Europe Limited (SEL), located in Coventry, England and through its sales representative office located in Shanghai, China.