HAMPTON, Va., Feb. 5, 2013 (GLOBE NEWSWIRE) -- Measurement Specialties, Inc. (Nasdaq:MEAS), a designer and manufacturer of sensors and sensor-based systems, announced today that MEAS has been selected as a recipient of the John Deere Supplier Innovation Award for 2012. The award is presented to a select group of suppliers who have demonstrated innovation in a product or service they provide to John Deere.
Award selections are based on four factors, including creativity, feasibility, collaboration, and bottom-line impact. John Deere created the supplier innovation awards in 2010 to promote innovation in the company's supply base and recognize suppliers who think creatively.
MEAS supplies a variety of sensors to John Deere, but is being recognized for its Fluid Property Sensors which monitor the condition and quality of oils, lubricants, fuels and diesel exhaust fluid (DEF) to determine their condition and quality during engine and vehicle operation.Bruno Patissier, MEAS' Engine and Vehicle Market Vertical Manager, commented, "John Deere has been a key customer of the Company for many years. We are pleased to receive this award and be recognized for our sensing technology and product innovations. We look forward to continued growth and success in the development of sensing technologies in support of John Deere's needs." About Measurement Specialties . Measurement Specialties, Inc. (MEAS) designs and manufactures sensors and sensor-based systems to measure precise ranges of physical characteristics such as pressure, temperature, position, force, vibration, humidity and photo optics. MEAS uses multiple advanced technologies – including piezoresistive, electro-optic, electro-magnetic, capacitive, application specific integrated circuits (ASICs), micro-electromechanical systems (MEMS), piezoelectric polymers and strain gauges – to engineer sensors that operate precisely and cost effectively. This release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward looking statements may be identified by such words or phrases "should", "intends", " is subject to", "expects", "will", "continue", "anticipate", "estimated", "projected", "may", "we believe", "future prospects", or similar expressions. The forward-looking statements above involve a number of risks and uncertainties. Factors that might cause actual results to differ include, but are not limited to, success of any reorganization; ability to raise additional funds; conditions in the general economy and in the markets served by the Company; competitive factors, such as price pressures and the potential emergence of rival technologies; interruptions of suppliers' operations affecting availability of component materials at reasonable prices; timely development and market acceptance, and warranty performance of new products; success in integrating prior acquisitions; changes in product mix, costs and yields, fluctuations in foreign currency exchange rates; uncertainties related to doing business in Hong Kong and China; and the risk factors listed from time to time in the Company's SEC reports. The Company from time-to-time considers acquiring or disposing of business or product lines. Forward-looking statements do not include the impact of acquisitions or dispositions of assets, which could affect results in the near term. Actual results may differ materially. The Company assumes no obligation to update the information in this issue.
CONTACT: Mark Thomson, CFO (757) 766-4224
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