PORTLAND, Ore., April 5, 2010 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc.(Nasdaq:SMIT), a world leader in precise test and measurement systems, announced today that they will be exhibiting the Xact™ remote tank monitoring system at the Southeastern Convention & International Propane Expo April 10th-12th. Schmitt's CEO, Wayne Case, will join a panel of experts from the propane industry at the show for a discussion on the economics of propane distribution.
Case will join other executives of propane tank monitoring companies on a panel titled "Gauging Technologies for Inventory Reconciliation of Bulk Storage Tanks." Panelists will engage in an open discussion focused on cuttingedge technology solutions to manage bulk storage inventory reconciliation.
Schmitt has recently introduced the Xact™ Tank Monitoring System to the propane market. Xact™ is the first measurement technology in the industry to successfully use ultrasonic technology to accurately measure industrial propane tank fill levels from the exterior of the tank. This revolutionary system transmits the data via the Globalstar™ satellite network and displays the tank information via the Internet on a desktop PC, PDA, or via cell phone text messaging, enabling tank managers to reduce costs and more effectively manage their inventories.
"Participating in the NPGA event as an exhibitor and a panelist provides Schmitt the opportunity to share our bulk tank measurement knowledge and experience with the propane industry and discuss the significant financial impact of accurate and timely measurement of bulk storage propane tanks on the market," said Case. "Through our participation in exhibiting and discussing the Xact™ remote tank monitoring system, we hope to provide solutions to reduce costs, improve inventory management and make the propane delivery process more efficient." The NPGA event, which will take place in Atlanta, will focus on new products, resources and information for the propane industry. Attendees can learn more about Schmitt and the Xact™ Tank Monitoring System at Booth 1042. Find out more about the Xact system by going to www.xact-data.com.
About Schmitt Industries
Schmitt Industries, Inc., designs, manufactures and markets precise test and measurement products in two business segments: the Balancer Segment includes computer controlled balancing and process monitoring equipment which the company sells to the machine tool industry, and the Measurement Segment, which includes precision laser-based measurement systems for surface roughness and dimensional and distance measurement application and ultrasonic measurement products for remote monitoring of chemical storage tanks. The Company sells and markets its products in Europe through its wholly owned subsidiary, Schmitt Europe Ltd. located in the United Kingdom. For more information, visit www.schmitt-ind.com.