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| Investor Inquiries: |
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| David Almeida |
| Chief Financial Officer |
| Axsys Technologies, Inc |
| (860) 257-0200 Telephone |
| (860) 594-5750 Facsimile |
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| Julie Oakes |
| Director of Investor Relations |
| Axsys Technologies, Inc |
| (860) 594-5751 Telephone |
| (860) 594-5750 Facsimile |
| Email: invest@axsys.com |
|
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| Media Inquiries: |
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| Jeff Nestel-Patt |
| Director of Corporate Marketing |
| Axsys Technologies, Inc |
| (603) 864-6244 Telephone |
| Email: mediainquiries@axsys.com |
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Axsys Press Release Distribution
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AXSYS TECHNOLOGIES ANNOUNCES THE ADDITION OF A NEW
INDEPENDENT DIRECTOR
ROCKY HILL, CONN. - May 14, 2003
- Axsys Technologies, Inc.
(Nasdaq: AXYS), a global leader in the design, manufacture and distribution of
precision opto-mechanical components and assemblies found in high- performance
aerospace, defense and commercial equipment for high-technology markets,
yesterday announced the election of Mr. Robert G. Stevens to our Board of
Directors.
Mr.
Stevens, age 49, is the President of Growth Insight, Inc., a strategic planning
management consulting firm, which helps corporate and nonprofit clients develop
and improve customer-centric business models.Prior to that time, Mr. Stevens
had been the Executive Vice President of Bluefly, Inc., a publicly traded internet
retailer of off-price
fashion merchandise, for three years. From 1992 until 1999, Mr. Stevens served
as Vice President and Partner of Mercer Management Consulting, Inc., the
management consulting arm of Marsh & McLennan, Inc. Mr. Stevens serves as a Director of
Bluefly, Inc. and as Vice Chairman of the Board of Trustees of the Shambhala
Center of New York.
Mr. Stevens was
elected to the Axsys Board of Directors at our Annual Meeting held May 13,
2003 along with returning Board members Mr. Stephen W. Bershad, Mr. Anthony
J.
Fiorelli, Jr., Eliot M. Fried and Richard Hamm, Jr. Mr. Stevens replaces Mr. Robert G. McConnell,
who was not nominated for re-election due to recent
changes in his employment.
Mr.
Stephen W. Bershad, Chairman of the Board, announced the changes and commented;
"Mr. McConnell and his extensive experience in technology, operations and
marketing will be missed. We wish
him well in his future endeavors.
Mr. Stevens brings over 20 years of experience developing
customer-centric strategies in a variety of industries. We believe his background
and experiences will assist us in our market-focused orientation."
Axsys
Technologies, Inc. is a vertically integrated supplier of precision optical and
motion control components and assemblies for high-technology applications,
serving the aerospace, defense, semiconductor and graphic arts markets. For
more information, contact Axsys Technologies Inc, at www.axsys.com.
This
press release may contain forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended. One can
identify these forward-looking statements by the use of the words such as
"expect," "anticipate," "plan," "may," "will," "estimate" or other similar
expressions. Because such
statements apply to future events, they are subject to risks and uncertainties
that could cause the actual results to differ materially. Important factors, which could cause
actual results to differ materially, are described in Axsys' reports on Form
10-K and 10-Q on file with the Securities and Exchange Commission.
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