CIRCLE PINES, Minn., Dec. 12 /PRNewswire-FirstCall/ -- Northern Technologies International Corporation announced today that it is taking advantage of the new "notice and access" or "E-Proxy" rule of the U.S. Securities and Exchange Commission that permits public companies to furnish proxy materials to stockholders via the Internet as an alternative to the traditional approach of delivering a printed set to each stockholder.
NTIC began mailing today its "Notice of Internet Availability of Proxy Materials" informing stockholders of where they can view NTIC's proxy statement for the 2008 annual meeting and Fiscal 2007 Annual Report to Stockholders. NTIC stockholders also may obtain hard copies of the company's proxy materials for the 2008 annual meeting -- and may elect to receive hard copies for all future meetings -- free of charge by following the instructions provided in the "Notice of Internet Availability of Proxy Materials" that was mailed to NTIC stockholders beginning today.
NTIC's 2008 annual meeting of stockholders will be held on Thursday, January 24, 2008, at 4:00 p.m., Central time, at NTIC's corporate headquarters located at 4201 Woodland Road, Circle Pines, Minnesota 55014. The record date for the 2008 annual meeting of stockholders was November 30, 2007. At the annual meeting, holders of NTIC common stock as of the close of business on that date will have the opportunity to vote on the election of seven directors to the Board of Directors and the ratification of the selection of Virchow Krause & Company LLP as the company's independent registered public accounting firm for fiscal 2008.
About Northern Technologies International Corporation
Northern Technologies International Corporation focuses on developing, marketing and selling proprietary environmentally responsible materials science based products and technical services directly and via a network of independent distributors, manufacturers' representatives and joint ventures in over 50 countries. In fiscal 2007, over 70% of NTIC's consolidated net sales were derived from the sales of Zerust(R) rust and corrosion inhibiting packaging products and services to the automotive, electronics, electrical, mechanical, military and retail consumer markets. During this same period, NTIC also received revenues from sales of proprietary new technologies including anti-abrasion ink additives, as well as bio-based sintered metal mold release agents, bio-solvents, bio-emollients, bio-cleaners, bio-lubricants and bio-based and biodegradable plastic packaging.
In a concerted effort to extend NTIC's proprietary environmentally responsible technologies, NTIC engages in extensive scientific research and development programs in the areas of material science and corrosion protection. In an effort to increase net sales, NTIC is in the process of expanding the application of its corrosion inhibiting technology into the oil and gas industry and its product line to include biodegradable and compostable plastics and machinery that converts waste plastics back into diesel, gasoline and mid-distillates. During fiscal 2008, NTIC expects to invest additional research and development and marketing efforts and resources into these new emerging businesses, product lines and markets.
For more information, please contact Matthew Wolsfeld, CFO, Northern Technologies International Corporation, (763) 225-6600.
