Rochester, NY, May 13, 2008 - Transcat, Inc. (NASDAQ: TRNS), a leading global distributor of professional grade test, measurement and calibration instruments and accredited provider of calibration and repair services, today announced that E. Lee Garelick, age 73, submitted his resignation from the Company's Board of Directors effective May 6, 2008, so he can spend more time on leisurely pursuits with his family. Mr. Garelick has served on Transcat's Board since 1996. He joined Transcat as a Senior Executive Officer in 1996 when the company he founded, Altek Industries, Corp., was acquired by Transcat. He retired from that position in 1999.
Carl E. Sassano, Chairman of the Board, commented, "Lee has been a major contributor over the last 12 years to the strategic direction of Transcat as it transformed itself into a top-tier calibration services and electronics distributor and shed its manufacturing history. We wish him all the best in his retirement and thank him for his dedication and service."
Rather than fill the vacancies created due to the departure of Mr. Garelick and the recent retirement of Cornelius J. Murphy in October last year, the Board has decided that the number of members on the Board should be reduced from 11 members to nine. In accordance with the Company's by laws, the Board will ask its shareholders to approve this decision at the 2008 annual shareholders' meeting in August.
Mr. Sassano noted, "We believe that the current composition of the Board provides the breadth and variety of experience needed to properly govern Transcat, and we felt this would be an opportune time to reduce the size of the Board."
ABOUT TRANSCAT
Transcat, Inc. is a leading global distributor of professional grade test, measurement and calibration instruments and accredited provider of calibration and repair services primarily for the process, life science and manufacturing industries. Transcat delivers precise, reliable, fast calibration services and repairs across the United States, Canada and Puerto Rico through its strategically located accredited laboratories. Transcat's eleven calibration laboratories are all ISO-9001:2000 certified and the scope of accreditation for ISO/IEC 17025 is the widest in the industry.
Transcat's growth strategy is to expand both its distribution products and calibration services in markets that value product breadth and availability and rely on accredited calibration services to maintain the integrity of their processes.
More information about Transcat can be found on its website at: www.transcat.com
For more information contact: John Zimmer, Chief Financial Officer Phone: (585) 352-7777 Email: jzimmer@transcat.com
Transcat, Inc. 35 Vantage Point Drive Rochester NY 14624 Phone: (585) 352-7777
Company Information: Name: Transcat, Inc. Address: 35 Vantage Point Drive City: Rochester State: NY ZIP: 14624 Country: USA Phone: 585-352-9460 FAX: 585-352-1486 http://www.transcat.com
News provided by ThomasNet Industrial Newsroom® (TIN). TIN is a comprehensive source
of new and timely product information in the industrial marketplace. TIN supplies new product
information to the web sites, e-marketplaces and print publications that serve the
industrial marketplace. For press release submissions please go to
http://www.productnews.com/SubmitPRPage.html.
BY ACCESSING, BROWSING AND/OR USING THIS WEB SITE AND/OR ANY WEB SITES PROVIDED BY
ProductNews.com, YOU AGREE TO BE BOUND BY THE TERMS OF USE
AGREEMENT.
