Schmitt Industries, Inc. (the Company), an Oregon corporation, designs, manufactures
and sells high precision test and measurement products for two main business
segments: the Balancer segment and the Measurement segment. For the Balancer
segment, the Company designs, manufactures and sells computer-controlled vibration
detection, balancing and process control systems for the worldwide machine tool
industry, particularly for grinding machines. Through its wholly owned subsidiary,
Schmitt Measurement Systems, Inc., an Oregon corporation, the Company designs,
manufactures and sells laser and white light sensors for distance, dimensional
and area measurement for a wide variety of commercial applications, laser-based
microroughness measurement products for the semiconductor wafer and hard disk
drive industries and for other industrial applications, laser-based surface
analysis and measurement products for a variety of scientific applications,
and ultrasonic measurement products that accurately measure the fill levels
of tanks holding propane, diesel and other tank-based liquids and transmit that
data via satellite to a secure web site for display (the Measurement segment).
The Company also provides sales and service for Europe and Asia through its
wholly owned subsidiary, Schmitt Europe Limited (SEL), located in Coventry,
England and through its sales representative office located in Shanghai, China.
The Company’s corporate office is located at 2765 N.W. Nicolai Street,
Portland, Oregon.
The Company’s principal product line for this segment is the Schmitt
Dynamic Balance System (SBS), which consists of a vibration sensor, a computer
control unit, and a balance head that is placed either externally on the grinding
wheel spindle with the use of a spindle mounted adaptor or internally inside
the spindle bore. The SB-5500 control panel contains up to four slots for additional
circuit boards designed for specific functions, such as manual balancing, balancing
using hydro chambers and process monitoring, which involves the detection and
analysis of high frequency noise, known as acoustic emission (AE), generated
by the grinding process. SBS products are designed as economical yet highly
precise measurement and control devices for permanent or portable installation
on grinding machines that can detect and correct imbalance caused by vibration
as small as 0.02 microns. Customers can also detect and analyze the AE signal
generated during grinding or wheel dressing to help monitor and improve the
grinding process. Customers include both end user operators as well as manufacturers
of grinding machines worldwide for a wide variety of industries that utilize
the grinding process, including the automotive, industrial, aerospace, and medical
industries where specifications and operating tolerances on machined parts are
increasingly precise.
Within the Measurement Segment, the Company designs, manufactures and sells
laser and white light sensors for distance, dimensional and area measurement
for a wide variety of commercial applications, laser-based microroughness measurement
products for the semiconductor wafer and hard disk drive industries and for
other industrial applications, laser-based surface analysis and measurement
products for a variety of scientific applications, and ultrasonic measurement
products that accurately measure the fill levels of tanks holding propane, diesel
and other tank-based liquids and transmit that data via satellite to a secure
web site for display.
The Company’s Xact Tank Monitoring System provides remote fill level
monitoring of propane, diesel and other tank-based liquids for tanks, large
or small, anywhere in the world. Accessing accurate fill level information is
essential to effectively manage inventory, improve delivery efficiency, reduce
operating costs and increase profitability, and justify capital expenditures.
The Xact system utilizes an ultrasonic sensor that is applied externally to
the tank to calculate the fill level inside the tank with great accuracy (+/-
2% for large tanks, +/-1% for small tanks). The Xact system can also be installed
to measure the fill levels of bobtail and transport trucks. For smaller tanks
that are difficult to access or where the precise accuracy provided by the ultrasonic
sensor is not as important, Xact also offers a sensor that is affixed to the
dial of a preinstalled float gauge (known as a “gauge reader”) which
detects the fill level that is reported by the gauge. Float gauges have a typical
accuracy of +/- 8% to 12%. Tank fill data is then transmitted via the Globalstar®
satellite network to a secure website for display. There is no reliance on phone
land lines or cellular networks and therefore no dropped data. The use of satellite
telemetry permits monitoring of any tank anywhere in the world. With the Xact
system, minimum or maximum alarm or fill levels can be set to automatically
notify operators by email anytime a particular tank reading exceeds thresholds
or needs refilling. The Xact system can be used to monitor tanks as small as
125 gallons (473 liters) and as large as 90,000 gallons (340,686 liters). With
Xact, operators can obtain timely and accurate readings of inventory levels
and tank refill requirements instantly.
The Company markets and sells its SBS products in a variety of ways. First
are the channels provided by independent manufacturers’ representatives
and distributors. There are currently approximately 65 individuals and/or organizations
throughout the world acting in one of these capacities, including approximately
15 in the United States and 15 in China.
Second, OEMs integrate the Balancer Segment products on the machine tools they
produce. Users thus purchase the SBS products concurrently with the machine
tools. Conversely, end users of grinding machines that have purchased the SBS
system directly from the Company, and after enjoying the benefits of the products,
often request that SBS products be included with the new equipment they order
from OEMs. The SBS Systems are often installed by machine tool builders prior
to displaying their own machine tools at various trade shows, becoming endorsements
that prove beneficial to the Company’s sales efforts.
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