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Last Trade - 01/04/21

Sector
Technology
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £292.1m
Position in Universe th / 7306

SMTC Corporation to Manufacture Aura V Ventilators in Battle to Combat COVID-19

Mon 16th November, 2020 8:00am
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TORONTO, Nov. 16, 2020 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq:SMTX
(https://www.globenewswire.com/Tracker?data=JZdq2cs3a5SIVXH_q4Bhn8d55nKKB68--DA_m5w4DnlJdbpQUa3BjTY0PEdrsiNz)),
a global electronics manufacturing services provider and winner of Frost &
Sullivan’s 2019 Best Practices Award for Customer Value Leadership in the
Electronics Manufacturing Services Industry, today announced that the Company
will produce Aura V ventilators for its customer IPM Chirana.

“With the number of COVID-19 cases continuing to rise, we are pleased that
we are able to draw on experience in building complex equipment that will
perform in critical situations to support the medical community in combatting
COVID-19 by manufacturing IPM Chirana’s Aura V ICU ventilators,” said Ed
Smith, SMTC Corporation’s President and Chief Executive Officer.

“We selected SMTC to manufacture our Aura V critical care ventilators
because of their reputation for quality, customer responsiveness and ability
to quickly bring complex medical equipment to market,” said Bud Reeves, IPM
Chirana’s CEO.

The Aura V ventilator is designed for use in intensive care units to support
and protect the patient’s lungs while providing critical information to
caregivers. SMTC plans to manufacture IPM Chirana ventilators at its 58,000
square foot facility in Boston, which has earned a number of industry
certifications, including ISO-9001, ISO-13485, AS9100, IPC-610, Class II &
Class III and is RoHS compliant.

Forward-Looking Statements

The statements contained in this release that are not purely historical are
forward-looking statements, which involve risk and uncertainties that could
cause actual results to differ materially from those expressed in the
forward-looking statements. These statements may be identified by their use of
forward looking terminology such as “anticipates,” “believes,”
“can,” “continue,” “could,” “estimates,” “expects,”
“intends,” “may,” “plans,” “potential,” “predicts,”
“should,” or “will” or the negative of these terms or other and
similar words, and include, but are not limited to, statements regarding the
location of manufacturing for and the financial results related to, the
customer relationship referenced above, and certain of its noted certified
quality standards. The Company cautions that actual performance will be
affected by a number of factors, many of which are beyond the Company's
control, and that future events and results may vary substantially from what
the Company currently foresees. For these statements, the Company claims the
protection of the safe harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995. There are many factors,
risks and uncertainties that could cause actual results to differ materially
from those predicted or projected in forward-looking statements, such as
modification or termination of the applicable customer orders, the success and
timing of ramping, availability and timing and receipt of critical parts or
components, demand from ultimate customers, as well as other risks and
uncertainties detailed from time to time in the Company's various SEC filings,
including its annual report on Form 10-K, Form 10-Q and on subsequent reports
on Form 8-K. The forward-looking statements contained in this release are made
as of the date hereof and SMTC assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results could
differ materially from those projected in the forward-looking statements.

About IPM Chirana

IPM Chirana is a global provider of life-changing medical technologies based
in Research Triangle Park, North Carolina, with a manufacturing facility in
Boston, Massachusetts. Led by knowledgeable leaders in respiratory care, IPM
Chirana is focused on offering the Aura V ventilator’s unique capabilities
globally. Through its unwavering commitment, IPM Chirana empowers and guides
healthcare providers in their quest to improve and protect the health, safety
and quality of life for patients around the world. Through its collaboration
and unified efforts, IPM Chirana invests its resources to nurture and advance
knowledge and the adoption of evidence-based, reliable and robust innovation.

About SMTC

SMTC Corporation was founded in 1985 and acquired MC Assembly Holdings, Inc.
in November 2018. SMTC has more than 50 manufacturing and assembly lines in
the United States and Mexico which creates a powerful low-to-medium volume,
high-mix, end-to-end global electronics manufacturing services (EMS) provider.
With local support and expanded manufacturing capabilities globally, including
fully integrated contract manufacturing services with a focus on global
original equipment manufacturers and emerging technology companies, including
those in the Avionics, Aerospace and Defense, Industrial IoT, Power and Clean
Technology, Medical and Safety, Retail and Payment Systems, Semiconductors,
Telecom, Networking and Communications, and Test and Measurement industries.
As a mid-size provider of end-to-end EMS, SMTC provides printed circuit board
assembly production, systems integration and comprehensive testing services,
enclosure fabrication, as well as product design, and sustaining engineering
and supply chain management services. SMTC services extend over the entire
electronic product life cycle from the development and introduction of new
products through to the growth, maturity and end-of-life phases. For further
information on SMTC Corporation, please visit our website at www.smtc.com.

Investor Relations Contact

Peter Seltzberg
Managing Director
Darrow Associates, Inc.
516-419-9915
pseltzberg@darrowir.com

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/00884039-36d5-4cb1-89bd-861250f96981

(https://www.globenewswire.com/NewsRoom/AttachmentNg/ca974b46-a735-457d-847c-7eb19fa73b34)
IPM Chirana’s Aura V ventilator 
(https://www.globenewswire.com/NewsRoom/AttachmentNg/00884039-36d5-4cb1-89bd-861250f96981/en)
IPM Chirana’s Aura V ventilator being manufactured by SMTC Corporation


GlobeNewswire, Inc. 2020
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