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KTEC » Topics » Walla Walla, WA

This excerpt taken from the KTEC 8-K filed Apr 16, 2009.
Walla Walla, WA – Key Technology, Inc. (Nasdaq: KTEC) announced today that Craig Miller, Senior Vice President and General Manager of the SYMETIX Business Unit, will resign from the Company to pursue other interests, effective April 17, 2009.  The SYMETIX Business Unit will report to Jack Ehren, Senior Vice President and Chief Financial Officer.

David Camp, President and Chief Executive Officer, commented, “Jack played an important role in our recent investment in Proditec SAS and has had significant operational and international business management experience.  His initial focus will be on executing our strategic and commercial initiatives in the pharmaceutical and nutraceutical markets, as well as further development of the SYMETIX management team.”

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 forward-looking statements in this release address future financial and operating results.
 
The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements:
·
current worldwide economic conditions may adversely affect the Company’s business and results of operations, and the business of the Company’s customers;
·
adverse economic conditions, particularly in the food processing industry, either globally or regionally, may adversely affect the Company's revenues;
·
the loss of any of the Company’s significant customers could reduce the Company’s revenues and profitability;
·
the Company is subject to pricing pressure from its larger customers which may reduce the Company’s profitability;
·
the Company may make acquisitions that could disrupt the Company’s operations and harm the Company’s operating results;
·
the Company's international operations subject the Company to a number of risks that could adversely affect the Company’s revenues, operating results and growth;
·
competition and advances in technology may adversely affect sales, prices and the marketability of the Company’s products;
·
failure of the Company’s new products to compete successfully in either existing or new markets;
·
the Company's inability to retain and recruit experienced personnel may adversely affect the Company’s business and prospects for growth;
·
the loss of members of the Company’s management team could substantially disrupt the Company’s business operations;
·
the inability of the Company to protect the Company’s intellectual property, especially as the Company expands geographically, may adversely affect the Company’s competitive advantage; and
·
the price of the Company's common stock may fluctuate significantly and this may make it difficult for shareholders to resell common stock when they want or at prices they find attractive.

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, 2008.


Note:  News releases and other information on Key Technology, Inc. can be
accessed at www.key.net.
###

CONTACT:
Key Technology, Inc., Walla Walla
 
David M. Camp, President and Chief Executive Officer – 509-529-2161


This excerpt taken from the KTEC 8-K filed Mar 16, 2009.
Walla Walla, WA – Key Technology, Inc. (Nasdaq: KTEC) announced today it has reached an agreement to acquire a minority interest in Proditec SAS.  Proditec is a leading manufacturer of automated, solid dose pharmaceutical inspection systems based on machine vision technology.  Proditec is headquartered in Pessac (Bordeaux), France.

Key Technology, Inc. will acquire a 15% minority interest for 870,000 Euros, or approximately $1.1 million, within the next 30 days, subject to certain conditions.  The Company will also acquire an exclusive option to purchase the remaining interest in Proditec through October 5, 2009. The agreement includes provisions addressing the potential future relationship between the parties, should the Company not exercise its purchase option.

David Camp, President and Chief Executive Officer of Key Technology, Inc., commented, “Acquiring an equity position in Proditec will strengthen our strategic initiatives in the pharmaceutical market. Our ultimate objective is to provide a comprehensive set of solutions to pharmaceutical solid dose manufacturers to improve their production efficiencies while delivering the highest level of diligence related to product safety and security.  Proditec offers an impressive product portfolio primarily focused on tablets and two-piece capsules, while Key’s current pharmaceutical products primarily serve the softgel market.”

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 forward-looking statements in this release address future financial and operating results.

The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements:
·  
current worldwide economic conditions may adversely affect the Company’s business and results of operations, and the business of the Company’s customers;
·  
adverse economic conditions, particularly in the food processing industry, either globally or regionally, may adversely affect the Company's revenues;
·  
the loss of any of the Company’s significant customers could reduce the Company’s revenues and profitability;
·  
the Company is subject to pricing pressure from its larger customers which may reduce the Company’s profitability;
·  
the failure of any of the Company's independent sales representatives to perform as expected would harm the Company's net sales;
·  
the Company may make acquisitions that could disrupt the Company’s operations and harm the Company’s operating results;
·  
if the Company's ERP system is not implemented properly, it could cause errors in the Company's financial reporting;
·  
the Company's international operations subject the Company to a number of risks that could adversely affect the Company’s revenues, operating results and growth;
·  
competition and advances in technology may adversely affect sales, prices and the marketability of the Company’s products;
·  
failure of the Company’s new products to compete successfully in either existing or new markets;
·  
the Company's inability to retain and recruit experienced personnel may adversely affect the Company’s business and prospects for growth;
·  
the loss of members of the Company’s management team could substantially disrupt the Company’s business operations;
·  
the inability of the Company to protect the Company’s intellectual property, especially as the Company expands geographically, may adversely affect the Company’s competitive advantage;
·  
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 the Company’s customer relations;
·  
the Company's dependence on certain suppliers may leave the Company temporarily without adequate access to raw materials or products;
·  
the limited availability and possible cost fluctuations of materials used in the Company’s products could adversely affect the Company’s gross profits; and
·  
the price of the Company's common stock may fluctuate significantly and this may make it difficult for shareholders to resell common stock when they want or at prices they find attractive.

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, 2008.

Note:  News releases and other information about Key Technology, Inc. can be
accessed at www.key.net.


CONTACT:
Key Technology, Inc., Walla Walla, Washington
 
David  Camp, President and Chief Executive Officer – 509-529-2161

This excerpt taken from the KTEC 8-K filed Jan 26, 2009.
Walla Walla, WA – Key Technology, Inc. (Nasdaq: KTEC) today announced it has entered into an agreement under which it expects to sell over $20 million of equipment to a leading North American vegetable processor over the next two-and-one-half years.  The equipment will be configured and installed pursuant to individual purchase orders received from the customer beginning in the second half of fiscal 2009 and continuing through fiscal 2011.  Approximately three-quarters of the orders are expected to be for new optical inspection equipment and upgrades, with the balance for associated material handling and processing equipment.

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 forward-looking statements in this release address future financial and operating results.

The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements:
·  
current worldwide economic conditions may adversely affect the Company’s business and results of operations, and the business of the Company’s customers;
·
adverse economic conditions, particularly in the food processing industry, either globally or regionally, may adversely affect the Company's revenues;
·
the loss of any of the Company’s significant customers could reduce the Company’s revenues and profitability;
·
the Company is subject to pricing pressure from its larger customers which may reduce the Company’s profitability;
·
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;
·
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 the Company’s customer relations; and
·
the price of the Company's common stock may fluctuate significantly and this may make it difficult for shareholders to resell common stock when they want or at prices they find attractive.

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, 2008.

Note:  News releases and other information about Key Technology, Inc. can be
accessed at www.key.net.


CONTACT:
Key Technology, Inc., Walla Walla, Washington
 
David M. Camp, President and Chief Executive Officer – 509-529-2161


This excerpt taken from the KTEC 8-K filed Oct 1, 2008.
WALLA WALLA, WA -- Key Technology, Inc. (Nasdaq: KTEC) today announced that it has exercised its purchase option and has purchased its Avery Street facility and grounds from the Port of Walla Walla.  The 20-acre parcel, located in Walla Walla, Washington, houses the Company’s corporate headquarters and primary manufacturing facility and has been under lease from the Port since 1990.

The purchase price was approximately $6.5 million.  The Company intends to pursue long-term financing for the property and has obtained a firm bank commitment.  The loan agreement is expected to be finalized in the first quarter of the Company’s fiscal 2009.

David Camp, President and Chief Executive Officer of the Company, commented: “We believe that the purchase of this facility and the related subsequent financing is the most beneficial course of action for our shareholders.  We have purchased a valuable asset at an attractive price.  Exercising this option will reduce our cost of occupancy and our long-term financial obligations, increase cash flow, and will be immediately accretive to our earnings.  The financing option allows the Company to retain flexibility with a strong cash position.”

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 forward-looking statements in this release address future financial and operating results.

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:
Key Technology, Inc., Walla Walla
 
Jack Ehren, Senior Vice President and Chief Financial Officer – 509-529-2161


This excerpt taken from the KTEC 8-K filed Jul 28, 2008.
Walla Walla, WA – Key Technology, Inc. (Nasdaq: KTEC) today announced the appointment of Edward A. Wagner as Senior Vice President of Global Operations.  Effective July 28, 2008, Wagner will have responsibility for driving new products to market, expanding the Company’s global manufacturing capabilities and effectiveness, and providing analysis and leadership for all aspects of operations in support of the Company’s overall strategic direction.
 
David Camp, President and Chief Executive Officer of the Company, commented: “Ed brings an unusual and impressive breadth of knowledge and experience to this critical position.  His career spans the automation and semiconductor industries, with executive-level experience in sales, operations, product development and launch, global business development, and general management.  He has lead turnarounds, restructurings, acquisitions, alliances, and major growth strategies in highly competitive markets for early stage and emerging technology companies.  He has significant international experience and knows production from the ground up.  We are excited to add his energy and leadership strength to our management team.”
 
During the past several years, Wagner has served in a consulting capacity as an operations specialist for Amtech Systems, Inc., as Vice President and General Manager of VEECO Instruments’ Slider Division, Intel World Wide Account Director for MEMC Electronic Materials, Inc., and President and CEO of Intrabay Automation in Santa Clara, California.  Previously, he was with Credence Systems in Hillsboro, Oregon, serving as Senior Vice President of Sales and Operations, and Senior Vice President and General Manager of the CMS product line division.  Wagner’s prior career experience with PRI Automation included the positions of Group Vice President of the OEM and Factory Systems Divisions in Billerica, Massachusetts, Vice President and General Manager of the OEM Division of PRI based in Mountain View, California, and Vice President of U.S. Sales and Service for Factory Systems.  Wagner also held senior management positions with Metron Technology and BGL, Inc.
 
Commenting on his new appointment, Wagner said, “I am very pleased to become a part of Key’s management team.  The Company’s growth strategy is exciting and solid. There are many challenges to operating a global company, and I look forward to the contribution I can make in helping direct the Company successfully through these challenges, and expand on the momentum of this unfolding strategy.”
 
Wagner holds a BS degree in Business Administration from the University of California, Berkley, and a MBA degree in Marketing from Golden Gate University in San Francisco, California.
 
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 forward-looking statements in this release address future financial and operating results.
 
 
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:
Key Technology, Inc., Walla Walla
 
David Camp, Chief Executive Officer – 509-529-2161


This excerpt taken from the KTEC 8-K filed May 8, 2008.
WALLA WALLA, WA – 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:
Key Technology, Inc., Walla Walla
 
David M. Camp, President and Chief Executive Officer – 509-529-2161


This excerpt taken from the KTEC 8-K filed Mar 26, 2008.
WALLA WALLA, WA – Key Technology, Inc. (Nasdaq: KTEC) announced today that Gordon Wicher, Sr. Vice President of Global Operations, will retire from the Company effective May 30, 2008.

“Gordon has served Key Technology with energy, wisdom, integrity, and vision for nearly 28 years.  His contributions to the Company’s state-of-the-art operations and financial management have been significant,” stated David M. Camp, President and CEO.  “I am particularly grateful to Gordon for his perspective and judgment during the last two years.  His vision for Key has significantly contributed to the Company’s achievements.”

Joining the Company in 1980, Mr. Wicher has participated in Key Technology’s senior management in the roles of Chief Financial Officer, Vice President of Manufacturing, Vice-President-General Manager of Specialized Conveying Systems, General Manager of Americas and Asia, and most recently as Senior Vice President of Global Operations.  He was among the small group of executives that executed a management buyout of the Company’s predecessor in 1982, forming Key Technology, Inc.  He has served as Secretary of the Company since 1982, and was a director of the Company from 1982 to 2004.

Wicher commented, “I am confident that I am leaving Key with a very seasoned and competent global operations team in place that will continue to effectively drive the growth and profitability of the Company.”

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 forward-looking statements in this release address future financial and operating results.

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," to the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2007.

Note:  News releases and other information on Key Technology, Inc. can be
accessed at www.key.net.
###

CONTACT:
Key Technology, Inc., Walla Walla
 
David M. Camp, President and Chief Executive Officer – 509-529-2161


EXCERPTS ON THIS PAGE:

8-K
Apr 16, 2009
8-K
Mar 16, 2009
8-K
Jan 26, 2009
8-K
Oct 1, 2008
8-K
Jul 28, 2008
8-K
May 8, 2008
8-K
Mar 26, 2008

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