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EXHIBIT II
[LOGO]
EXECUTIVE OFFICES
FOR IMMEDIATE RELEASE
CONTACT:
Mark J. Bonney
President &
Chief Operating Officer
Axsys Technologies, Inc.
(860) 257-0200
AXSYS TECHNOLOGIES COMPLETES MERGER WITH AUTOMATION ENGINEERING INC.
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ROCKY HILL, CT - OCTOBER 18, 2000 - Axsys Technologies, Inc. (Nasdaq:
AXYS), a global leader in designing, manufacturing and distributing
micro-positioning and precision optical products, today announced that it has
completed its merger with Automation Engineering Inc.(AEI) which was previously
announced on October 3rd. The acquisition of AEI for 666,667 shares of Axsys
Technologies common stock will be accounted for as a pooling of interests.
Axsys Technologies, Inc. is a vertically integrated supplier of precision
system solutions for high technology applications including aerospace guidance
and electronic capital equipment serving the data storage, semiconductor, and
fiber optic components markets. This has been achieved by creating a precision
systems capability that leverages Axsys' unique component capabilities. For more
information, contact Axsys Technologies, Inc., www.axsys.com.
This news release contains certain forward-looking statements. The
Company's business is subject to various risks and uncertainties. As a result,
actual future results and developments may be materially different from those
expressed or implied in any forward-looking statement. Disclosure regarding
factors affecting the Company's future results and developments is contained in
the Company's public filings with the Securities and Exchange Commission,
including the Company's annual report and Form 10-K for the fiscal year ended
December 31, 1999.
AXSYS TECHNOLOGIES, INC. - 175 CAPITAL BOULEVARD - SUITE 103 -
ROCKY HILL, CT 06067
860.257.0200 - FAX: 860.594-5750 - web: www.axsys.com
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