inTEST Corporation Expands Distributor Channels to Broaden Geographic Reach and Increase Target Market Share
- Signs General Bussan Co., Ltd. as exclusive distributor in Japan to drive growth of inTEST EMS Products in the underpenetrated market
- Establishes Prodigy Processing Solutions as preferred distributor of iTS Thermonics® Ultra-Low Temperature and Cryogenic Chillers to the cannabis and hemp processing industries
inTEST Corporation (NYSE:INTT), a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets which include automotive/EV, defense/aerospace, industrial, life sciences, security, and semiconductor ("semi"), today announced the addition of two key distributor partners that provide expanded geographic reach and bring deep customer relationships in the markets they serve.
Nick Grant, President and CEO of inTEST Corporation, commented on the new distributor partnerships, "These partnerships represent the continued advances we are making as an organization with our 5-Point Strategy to drive growth through expanded geographic reach and deepening our opportunities within our target markets. We believe the affiliation with General Bussan establishes for us a strong foothold in a region in which we are underpenetrated with our engineered solutions for the analog/digital semiconductor production industry serving auto/industrial applications. The Prodigy agreement leverages their leadership in cannabis extraction as our equipment complements their solutions and provides producers in the pharmaceutical, biotechnology, life sciences, cannabis extractors, and hemp processors worldwide with higher productivity and cost efficiencies. We are excited to be partnered with these two outstanding organizations."
The inTEST Electronic Test division executed a strategic agreement with General Bussan Co., Ltd., a leading distributor and manufacturers' representative for the semiconductor industry in Japan. Under the agreement, General Bussan will serve as the exclusive distributor in Japan of inTEST EMS Products engineered solutions, promoting the Company's electrical interface, manipulator and docking solutions throughout the country.
inTEST Environmental Technologies has partnered with Prodigy Processing Solutions to be its preferred distributor of its inTEST Thermal Solutions (iTS) Thermonics® Ultra-Low Temperature and Cryogenic Chillers across the cannabis and hemp processing industries. The pairing of Prodigy's state of the art extraction systems with iTS's Thermonics® ultra-low temperature chillers allows customers to achieve the highest yields and throughput available on the market today.
About inTEST Corporation
inTEST Corporation is a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets including automotive/EV, defense/aerospace, industrial, life sciences, and security, as well as both the front-end and back-end of the semiconductor manufacturing industry. Backed by decades of engineering expertise and a culture of operational excellence, inTEST solves difficult thermal, mechanical, and electronic challenges for customers worldwide while generating strong cash flow and profits. inTEST's strategy leverages these strengths to grow organically and with acquisitions through the addition of innovative technologies, deeper and broader geographic reach, and market expansion. For more information, visit intest.com.
About inTEST Process Technologies and inTEST EMS Products
Founded in 1981, inTEST Process Technologies EMS designs, manufactures, and markets inTEST EMS Products which include test head manipulators, docking and electrical interface products that are used by semiconductor manufacturers to test integrated circuits and wafers. For more information visit www.intest-ems.com.
About inTEST Environmental Technologies
inTEST Environmental Technologies, a division of inTEST Corporation (NYSE:INTT), specializes in providing high-performance thermal management equipment. Its iTS Thermonics® product line delivers precision temperature control solutions for a wide range of applications, including process cooling, semiconductor testing, and industrial processes. Learn more at www.intestthermal.com.
About General Bussan
General Bussan, established in 1968 and headquartered in Tokyo, specializes in offering a diverse array of products, including power supply solutions, electronic components, and measuring instruments. Committed to innovation, the company ensures its customers have prompt access to cutting-edge technology, products, and information from around the globe.
About Prodigy Processing Solutions
Prodigy USA LLC, also known as Prodigy Processing Solutions, is a leading provider of cutting-edge cannabis and hemp extraction equipment. Prodigy's systems are engineered to operate at ultra-low temperatures, maximizing yields and eliminating inefficiencies while ensuring compliance with global standards. Visit www.prodigyusa.com for more information.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicted or potential future events and financial results, such as statements of the Company's plans, strategies and intentions, or our future performance or goals, that are based upon management's current expectations. These forward-looking statements can often be identified by the use of forward-looking terminology such as "believe," "expand," "will," "plan," "strategy," or similar terminology. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, any mentioned in this press release as well as the Company's ability to execute on its 5-Point Strategy, grow the Company's presence in its key target and international markets, manage supply chain challenges, the success of the Company's strategy to diversify its markets; changes in business conditions and general economic conditions both domestically and globally including rising interest rates and fluctuation in foreign currency exchange rates; and other risk factors set forth from time to time in the Company's Securities and Exchange Commission filings, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by the Company in this press release is based only on information currently available to management and speaks to circumstances only as of the date on which it is made. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events, except as required by law.
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inTEST EMS Products
Mark Bradford
Vice President of Sales
[email protected]
Tel: (856) 505-8834
inTEST Environmental Technologies:
Bob Sandberg
Director of Chiller Sales
[email protected]
Tel: (617) 834-2768
Investors:
Deborah K. Pawlowski, IRC
Alliance Advisors IR
[email protected]
Tel: (716) 843-3908