|MACINTYRE ELECTRONIC DESIGN ASSOCIATES, INC. (MEDA) AND SCHONSTEDT
INSTRUMENT COMPANY (SICO) ANNOUNCE LICENSING AGREEMENT
HSM-2 STATION MAGNETOMETER
Herndon, VA / Kearneysville, WV March 1, 1999 -- On 17 February 1999, Macintyre Electronic Design Associates, Inc. (MEDA) and Schonstedt Instrument Company (SICO) announced that they had entered into a licensing agreement in which MEDA will assume responsibility for the sales, manufacturing, calibration and repair of the HSM-2 Station Magnetometer. The HSM-2 is SICOs top of the line instrument for the precise and accurate measurement of magnetic field components.
For over 40 years, SICO has been the leading manufacturer of top quality laboratory and satellite magnetometers and magnetometer based geophysical systems. MEDA is a leading manufacturer of handheld magnetometers. These magnetometers include single axis and three-axis models. Recently SICO made a strategic decision to concentrate on their locator business. This strategy created an opportunity for SICO to free up their resources and enabled MEDA to expand its line of magnetometers.
The Licensing Agreement is for two years with one year renewals following the initial period. During this time, MEDA will be upgrading the HSM-2 design to be more in tune with the current state of technology. MEDA will also be developing a digital version of the HSM-2 which will be in a smaller, more portable package. The digital version will include provisions for controlling the instruments operations through a computer interface.
Steven A. Macintyre
Michael B. Head