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Key Technology Appoints Gary Locke, Former Governor of Washington State, to Board of Directors
(Marketwire Via Acquire Media NewsEdge) WALLA WALLA, WA, May 8 / MARKET WIRE/ --
Key Technology, Inc. (NASDAQ: KTEC)
announced today the appointment of former Washington State Governor Gary F.
Locke to serve as an independent Director of the Company effective
September 8, 2008.
Locke served as Governor of the State of Washington from 1997 to 2005.
Upon leaving office, he joined the Seattle office of the international law
firm Davis Wright Tremaine LLP in their China and governmental-relations
practice groups. Locke currently serves as a member of the Board of
Directors of Safeco Corporation, a property and casualty insurance company.
David Camp, President and CEO, commented, "For some time, we have wanted to
add a Board member who has Gary's international understanding and
relationships. We believe that Gary will provide Key with an important
strategic perspective as the company expands its international business.
Gary Locke's appointment to the Board of Directors confirms the Company's
commitment to these important markets."
About Key Technology
Key Technology, Inc., headquartered in Walla Walla, Washington, is a
worldwide leader in the design and manufacture of process automation
systems for the food processing and industrial markets. The Company's
products integrate electro-optical inspection and sorting, specialized
conveying and product preparation equipment, which allow processors to
improve quality, increase yield and reduce cost. Key has manufacturing
facilities in Washington, Oregon, and the Netherlands, and worldwide sales
and service coverage.
This release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These statements are based on management's current expectations or
beliefs and are subject to a number of factors and uncertainties that could
cause actual results to differ materially from those described in the
forward-looking statements.
The following factors, among others, could cause actual results to differ
materially from those described in the forward-looking statements:
-- adverse economic conditions, particularly in the food processing
industry, either globally or regionally, may adversely affect the Company's
revenues;
-- competition and advances in technology may adversely affect sales and
prices;
-- failure of the Company's new products to compete successfully in
either existing or new markets;
-- the limited availability and possible cost fluctuations of materials
used in the Company's products could adversely affect the Company's gross
profits;
-- the inability of the Company to protect its intellectual property,
especially as the Company expands geographically, may adversely affect the
Company's competitive advantage; and
-- intellectual property-related litigation expenses and other costs
resulting from infringement claims asserted against the Company by third
parties may adversely affect the Company?s results of operations and its
customer relations.
For a detailed discussion of these and other cautionary statements, please
refer to the Company's filings with the Securities and Exchange Commission,
particularly Item 1A, "Risk Factors," of the Company's Annual Report on
Form 10-K for the fiscal year ended September 30, 2007.
Note: News releases and other information about Key Technology, Inc. can be
accessed at www.key.net.
CONTACT:
David Camp
President and Chief Executive Officer
Key Technology, Inc.
(509) 529-2161
Copyright ? 2008 Marketwire
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