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
