Xact, part of the Schmitt Industries family of products, provides industry-leading remote tank monitoring for fuel distributors. Its products include satellite-based systems that provide reliable service in remote locations and ultrasonic tank monitoring sensors for accurate level reporting for tanks of all sizes. By being able to monitor any tank, anywhere, Xact plays an important role in fuel monitoring and logistics, saving customers time and money. The relaunch of the Xact website reflects the company's commitment to applying its engineering expertise to provide Internet of Things based solutions the fuel industry.

Schmitt Industries, Inc. ("Schmitt" or the "Company") designs, manufactures and sells high precision test and measurement products, solutions and services through our SBS®, Acuity® and Xact® product lines, which are reported in two business segments: the Balancer segment and the Measurement segment. Through our SBS product line within the Balancer segment, the Company designs, manufactures and sells computer-controlled vibration detection, balancing and process control systems for the worldwide machine tool industry, particularly for grinding machines.  The Company also provides SBS sales and service for Europe and Asia through its wholly owned subsidiary, Schmitt Europe Limited ("SEL"), located in Coventry, England and through its sales representative office located in Shanghai, China. In the Measurement segment, the Company has two core product lines: Acuity, which consists of sales of laser and white light sensor distance measurement and dimensional sizing products, and Xact, which includes ultrasonic-based remote tank monitoring products and related monitoring revenues for markets in the Internet of Things environment. The Xact products measure the fill levels of tanks holding propane, diesel and other tank-based liquids and the related monitoring services, which includes transmission of fill data from the tanks via satellite to a secure web site for display.