FITCHBURG, Mass., July 24, 2017 (GLOBE NEWSWIRE) -- Micron Solutions, Inc. (NYSE MKT:MICR), announced today the appointment of Mr. Rodd E. Friedman to its Board of Directors, effective July 21, 2017. Mr. Friedman will be a Class II director with his term expiring at the 2018 annual meeting. The Company’s Board now consists of seven directors, six of whom are independent.
Mr. Friedman is the founder and managing member of REF Securities & Co., a private investment firm. Mr. Friedman and REF currently own approximately 13% of the common stock of the Company. REF also is the holder of $100,000 of the subordinated promissory notes issued by the Company in December 2013 and 20,000 warrants to purchase common stock. REF has been principally engaged in investing in public and private equities and derivatives since 1991. Prior to founding REF, Mr. Friedman was employed as an option trader at O’Connor and Associates, a market maker on the American Stock Exchange. Mr. Friedman received a Bachelor of Science in Finance from NYU Stern School of Business.
The Company also announced the engagement of Bonifacio Consulting Services, LLC (“BCS”), a manufacturing consultancy firm with a focus on plastics, medical devices, contract manufacturing and outsourcing. BCS has been engaged to analyze and benchmark the Company’s operations, suggest business development strategies, and improve operating performance.
Mr. Friedman commented, "I look forward to working with the Board of Directors of Micron Solutions. Hiring Bonifacio Consulting is the first step in our collective goal to improve shareholder value."
About Micron Solutions, Inc.
Micron Solutions, Inc., through its wholly-owned subsidiary, Micron Products, Inc., is a diversified contract manufacturing organization that produces highly-engineered, innovative medical device technologies requiring precision machining and injection molding. The Company also manufactures components, devices and equipment for military, law enforcement, industrial and automotive applications. In addition, the Company is a market leader in the production and sale of silver/silver chloride coated and conductive resin sensors used as consumable component parts in the manufacture of integrated disposable electrophysiological sensors. The Company’s strategy for growth is to build a best-in-class quality organization and capitalize on its engineering design expertise and reliable, proprietary manufacturing processes to further penetrate the medical device contract manufacturing market.
