Key Technology Appoints Robert M. Averick to Board of Directors


WALLA WALLA, Wash. - June 22, 2016 - Key Technology, Inc. (NASDAQ: KTEC), a worldwide leader and full-solutions provider in the design and manufacture of process automation systems, announced today that Robert M. Averick was appointed to serve as a director of the Company effective June 20, 2016 until the February 2017 Annual Meeting of Shareholders.



Mr. Averick has over 15 years of experience as a small-capitalization, value-driven public equity portfolio manager. His prior work experience includes positions within structured finance as well as strategic planning and consulting. Mr. Averick is currently a Portfolio Manager for Kokino LLC, a private firm based in Stamford, Connecticut.



From 2000 to 2010, Mr. Averick served as Vice President and Portfolio Manager at Richard L. Scott Investments, a private family office, where he co-managed a public equity portfolio. In this position as well as his current position with Kokino LLC, he has managed public equity portfolios, including responsibility for all aspects of the investment process, from due diligence to decision-making. Prior to 2000, Mr. Averick served as Senior Associate in the Structured Finance Group of Prudential Investments, where he focused on highly structured, private and 144A asset-backed transactions.



Mr. Averick and certain entities to which his employer provides investment management services currently own in excess of 19% of the outstanding shares of Key Technology, Inc.



Mr. Averick earned a Bachelor’s degree in Economics from the University of Virginia, and a Masters in Business Administration in Finance from The Wharton School of Business at the University of Pennsylvania. He currently serves as a director of Amtech Systems, Inc.



Rich Lawrence, Chairman, commented, “We are very pleased to have Rob join our board. He has held a long-term interest in Key, and is dedicated to the success of the Company. We believe his many years of experience in analyzing public companies will be highly valuable as the Company works to build shareholder value for the future.”



About Key Technology



Key Technology (NASDAQ: KTEC) is a global leader in the design and manufacture of process automation systems including digital sorters, conveyors, and processing equipment. Applying processing knowledge and application expertise, Key helps customers in the food processing and other industries improve quality, increase yield, and reduce cost. An ISO-9001 certified company, Key manufactures its products at its headquarters in Walla Walla, Washington, USA; and in Beusichem, the Netherlands; Hasselt, Belgium; and Redmond, Oregon, USA. Key offers customer demonstration and testing services at five locations including Walla Walla, Beusichem, and Hasselt as well as Sacramento, California, USA and Melbourne, Australia; and maintains a sales and service office in Santiago de Queretaro, Mexico.



Contact



Jeff Siegal

Senior Vice President and CFO

Key Technology, Inc.

150 Avery Street

Walla Walla, WA 99362

Tel: +1 509-394-3300

Email: jsiegal@key.net

URL: www.key.net

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