MTI Global Inc.
TSX : MTI

MTI Global Inc.

April 20, 2010 19:40 ET

MTI Global Inc. Completes Sale of Milton Assets to Bellofram Corporation

MISSISSAUGA, ONTARIO--(Marketwire - April 20, 2010) - MTI Global Inc. ("MTI") (TSX:MTI) announced today that it has completed the sale of assets of its Milton, Florida business to Bellofram Corporation, Inc. ("Bellofram Corporation"). The sale was completed through an asset purchase agreement for a purchase price of approximately US$1.7 million before transaction costs and reserves for potential obligations in connection with the sale.

About Bellofram Corporation, Inc.

Bellofram Corporation, doing business as the Marsh Bellofram Group of Companies, a privately held corporation, specializes in technically oriented and highly engineered rubber products and components, as well as pressure monitoring, measuring and regulating products. It is headquartered in Newell, West Virginia, with operations in the UK, India, and China. For more information please visit the Bellofram Corporation website at http://www.marshbellofram.com.

About MTI

MTI Global Inc. (TSX:MTI) designs, develops and manufactures custom-engineered products using silicone and other cellular materials. The Company serves a variety of specialty markets focused on Aerospace and Fabricated Products. The Company designs and fabricates energy management systems from a variety of flexible, cellular materials. MTI's primary market is aerospace. Secondary markets include sporting goods, automotive, industrial, institutional, and electronics. MTI's head office and Canadian manufacturing operations are located in Mississauga, Ontario, with a contract manufacturer venture in Ensenada, Mexico. The Company's website is www.mtiglobalinc.com.

Contact Information

  • MTI Global Inc.
    Bill Neill
    President and Chief Executive Officer
    (905) 564-9700
    www.mtiglobalinc.com
    or
    Fleishman-Hillard Canada
    Anne Lachance
    Investor Relations
    (416) 214-0701