Exhibit 99.1 FOR IMMEDIATE RELEASE SL INDUSTRIES, INC. COMPLETES ACQUISITION OF MTE CORPORATION MT. LAUREL, NEW JERSEY, NOVEMBER 1, 2006 . . . SL INDUSTRIES, INC. (AMEX & PHLX:SLI) today announced that it has successfully completed the acquisition of MTE Corporation, an electromagnetic products manufacturer, for total cash consideration of approximately $15.5 million. SL Industries said the purchase price would be financed under its Revolving Credit Agreement with Bank of America, N.A. James C. Taylor, SL Industries' Chief Executive Officer, stated "We are very excited about this acquisition and believe it will significantly broaden the product portfolio of the SL Power Electronics Group in the high power market." ABOUT SL INDUSTRIES SL Industries, Inc. designs, manufactures and markets power electronics, power motion, power protection, teleprotection and communications equipment and systems that is used in a variety of medical, aerospace, computer, datacom, industrial, telecom, transportation and electric power utility equipment applications. For more information about SL Industries, Inc. and its products, please visit SL Industries' web site at WWW.SLINDUSTRIES.COM. ABOUT MTE CORPORATION MTE Corporation designs and manufactures power quality electromagnetic products used to protect equipment from power surges, bring harmonics into compliance and improve the efficiency of variable speed motor drives. MTE's product lines include: three-phase AC reactors, DC link chokes and a series of harmonic, RFI/EMI and motor protection filters. These products are typically used in industrial plants and commercial buildings where non-linear loads and attendant harmonics produced by these loads are present. CONTACT: David R. Nuzzo, Chief Financial Officer E-mail: DAVID.NUZZO@SLINDUSTRIES.COM Phone: 856-727-1500, ext. 5515 Facsimile: 856-727-1683
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8-K Filing
SL Industries Inactive 8-KCompletion of Acquisition or Disposition of Assets
Filed: 6 Nov 06, 12:00am