Schmitt Industries Raising Additional Investment Funding

Schmitt Industries, Inc., a NASDAQ company, has announced a rights offering whereby additional shares of its common stock will be offered to its existing shareholders. If all of the basic subscription rights are exercised the total purchase price of the shares offered in the rights offering will be approximately $2.5 million.

The Company has stated it intends to use the net proceeds from the rights offering for general corporate purposes, to accelerate the timing of specific product development and to enhance the Company’s sales and marketing initiatives across the Company’s three product lines including its Acuity laser measurement sensors used for fast and accurate dimensional measurement in factory automation, surface profile scanning and many other industrial and commercial applications.

The AccuProfile Laser Scanners creates 2D profiles and 3D point cloud data using laser triangulation measurement principles. The compact AP820 sensor performs well on shiny or jagged targets and edge scanning poses little problem due to the units auto gain and high dynamic range.

Applications include:

  • Weld Gap Tracking and Weld Bead Profiling – High-speed tracking of the weld bead location, size and shape
  • Robot Positional Control – Robots positioning based on the location of surface features and process variables
  • Tire Profiling – Measurement of bulge, dent and other sidewall or tread defects.
  • Wheel Profiling – Outer diameter scan for dimensional verification and flaw detection
  • Surface Profiling – Inspect large surfaces to verify dimensional tolerances and identify surface defects
  • 3D Profile Generation – Measures part’s dimensional
  • Dimensioning – Measure width, thickness, length, surface angle, radius and shape using the profiling capabilities of a 2D scanner.

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