SMTC Corporation to Manufacture Aura V Ventilators in Battle to Combat COVID-19

TORONTO, Nov. 16, 2020 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq:SMTX), a global electronics manufacturing services provider and winner of Frost & Sullivan’s 2019 Best Practices Award for Customer Value Leadership in the Electronics Manufacturing Services Industry, today announced that the Company will produce Aura V ventilators for its customer IPM Chirana.

“With the number of COVID-19 cases continuing to rise, we are pleased that we are able to draw on experience in building complex equipment that will perform in critical situations to support the medical community in combatting COVID-19 by manufacturing IPM Chirana’s Aura V ICU ventilators,” said Ed Smith, SMTC Corporation’s President and Chief Executive Officer.

“We selected SMTC to manufacture our Aura V critical care ventilators because of their reputation for quality, customer responsiveness and ability to quickly bring complex medical equipment to market,” said Bud Reeves, IPM Chirana’s CEO.

The Aura V ventilator is designed for use in intensive care units to support and protect the patient’s lungs while providing critical information to caregivers. SMTC plans to manufacture IPM Chirana ventilators at its 58,000 square foot facility in Boston, which has earned a number of industry certifications, including ISO-9001, ISO-13485, AS9100, IPC-610, Class II & Class III and is RoHS compliant.

Forward-Looking Statements

The statements contained in this release that are not purely historical are forward-looking statements, which involve risk and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These statements may be identified by their use of forward looking terminology such as “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other and similar words, and include, but are not limited to, statements regarding the location of manufacturing for and the financial results related to, the customer relationship referenced above, and certain of its noted certified quality standards. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. There are many factors, risks and uncertainties that could cause actual results to differ materially from those predicted or projected in forward-looking statements, such as modification or termination of the applicable customer orders, the success and timing of ramping, availability and timing and receipt of critical parts or components, demand from ultimate customers, as well as other risks and uncertainties detailed from time to time in the Company's various SEC filings, including its annual report on Form 10-K, Form 10-Q and on subsequent reports on Form 8-K. The forward-looking statements contained in this release are made as of the date hereof and SMTC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements.