American Sensor Technologies Founder Named CFO of Year by New Jersey Technology Council
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Mount Olive, NJ, June 76, 2006... Michael P. Eldredge, Executive VP, COO/CFO of American Sensor Technologies (www.astsensors.com) and it subsidiaries Macro Sensors and Hong Kong Sensor Technologies, is a recipient of the New Jersey Technology Council CFO of the Year Award.
Each year, the New Jersey Technology Council honors an outstanding Chief Financial Officer of a technology firm for outstanding contributions to his/her company performance and accomplishments. Criteria for the award include: outstanding team building, customer service aptitude, deal negotiations, major project implementation as well as being a key player in a merger or acquisition.
Mr. Eldredge, a co-founder of American Sensor Technologies, was awarded the top CFO of the Year Award by the New Jersey Technology Council on June 9 based on his outstanding contributions to his successful company. In addition to being one of three co-founders of American Sensor Technologies, Mr. Eldredge played a key role in the acquisition of
Macro Sensors, a New-Jersey based sensor manufacturer, in 2005. He was also instrumental in the seamless integration of the new business into AST without interruption to customers, suppliers and employees.
"If Macro Sensors was not acquired by American Sensor Technologies, it would have been sold to another company whose plan was to shut it down to remove the competitive threat," noted Michael Eldredge, Executive VP, COO/CFO of American Sensor Technologies. "In addition to being a strategic business and product base fit to our company, Macro Sensors supports AST's core belief that manufacturing can profitability be maintained in New Jersey."
Prior to founding American Sensor Technologies in 1997, Mr. Eldredge served as Vice President of Finance & CFO of Townley, Inc. a manufacturer and distributor of consumer products. A graduate of Middlesex County College and Rutgers University, Mr. Eldredge resides in Flemington, New Jersey. He is married and has three children.
About NJTC
New Jersey Technology Council ("NJTC") organizes the CFO of the Year Award program. The organization provides business support, networking opportunities, information, advocacy and recognition of technology companies and their leaders. Founded in 1996, NJTC has more than 1,200 member companies that work together to support their own enterprises while advancing New Jersey's status as a leading technology center in the United States. For more information, visit the New Jersey Technology's web site at njtc.org/events/cfo2006/finalists.html .
About AST
Incorporated in 1997, American Sensor Technologies serves the world's most highly respected Fortune 500 corporations with MEMS-based pressure sensor products. Common applications of AST's sensor products are in industrial OEM, hydraulic systems, fuel cells, medical gases, HVAC/R, refrigeration, oil & gas exploration and off-road vehicles. Founded by a professional management team with more than 60 years combined relative industry experience, the unique and complimentary talents of the management team assures the Company's ability to manage fast-paced business growth while sustaining the frequent introductions of new technologies and products. For more information on American Sensor Technologies, visit our web site at www.astsensors.com.
Media Contact: Jean Carl/ 610-565-2288/ fjcarl@comcast.net
AST Contact: Michael P. Eldredge/ 973-448-1901 / mpeldredge@comcast.net
