SOURCE: Key Technology, Inc.

November 29, 2007 13:00 ET

Key Technology Announces Appointment of Richard Hebel as Chief Technology Officer

WALLA WALLA, WA--(Marketwire - November 29, 2007) - Key Technology, Inc. (NASDAQ: KTEC) today announced the appointment of Richard Hebel as Chief Technology Officer (CTO). Effective immediately, Hebel is responsible for identifying and commercializing advanced technologies that will expand Key's range of customer product solutions and developing new opportunities for corporate growth and diversification in connection with new inspection technologies.

Craig Miller, Senior Vice President, will assume general management of Key's pharmaceutical business, SYMETIX™, as well as continue to lead efforts in developing opportunities for Key's Service and Aftermarket business.

"The appointment of Rich to this new position is a clear indication of Key's commitment to developing break-through innovations -- this is a very important strategic initiative for Key. We are focused on diversifying into markets and technologies that will stimulate intellectual property development to create new opportunities for growth and commercial success," noted David Camp, President and CEO of Key Technology. "With Rich's technology background, big-picture perspective, and business development expertise, he is ideally suited to take the lead in extending our technology leadership into new arenas."

Hebel brings more than 30 years of business experience to his new position at Key. Most recently, he served as General Manager of SYMETIX, leading the successful start-up of Key's pharmaceutical business. Previously, he was Vice President, Corporate Marketing and Business Development for Key. In conjunction with Key Technology, he holds two patents relating to sorting.

Prior to joining Key in 1993, Hebel served in a number of technical and marketing executive positions with companies including: Allen Bradley (now part of Rockwell Automation), Technicon (now part of Bayer-Technicon Instruments Corporation), Ball Aerospace Corporation, and Eaton Corporation. He holds a Bachelor of Arts degree and a Masters of Science degree, was a Charter Member of the Machine Vision Association, and is a Senior Member of the Society of Manufacturing Engineers, the Institute of Electrical and Electronic Engineers, and the International Society of Pharmaceutical Engineers.

"I am excited to take on such a pivotal role at Key. We are dedicated to building our technology leadership position through development partnerships, acquisitions, licensing, and cooperation with academic research efforts," noted Hebel. "We are actively searching for new opportunities to advance our diversification strategy into related applications for our products."

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;
--  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; and
--  the cost of compliance with the internal control requirements of
    Section 404 of the Sarbanes-Oxley Act is expected to materially impact
    future earnings.

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, 2006, and Part II, Item 1A, to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2007.

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

Contact Information

  • CONTACT:
    David Camp
    President and Chief Executive Officer
    Key Technology, Inc.
    (509) 529-2161