PERT Permanent Technologies Inc (CE)

Permanent Technologies, Inc. (PERT.PINK) secured an initial order for TineLok Vibration-Proof Fasteners from the United States Navy for their testing on its Hovercrafts, the Landing Craft, Air Cushion (LCAC). Earlier this year TineLok stainless steel products passed, with flying colors, a series of highly demanding field tests conducted by the U.S. Navy. According the Navy�s Engineer in Charge, the TineLok fasteners worked flawlessly and will be a valuable component of their new skirt design for the Hovercraft. TineLok�s latest products � made from VICTREX � PEEK High performance Thermo-plastic � will now be installed on the LCAC for advanced testing. This new material is as strong as its steel counterpart at about one quarter the weight. It offers the Navy significant potential for savings in fuel consumption and overall LCAC maintenance costs. �We expect to begin delivery on this order within about six weeks,� said Loren Ball, President and CEO of Permanent Technologies, Inc. �There is little doubt that high performance plastic and other new materials are in TineLok�s future. Our stainless steel products met all expectations for use on the Navy�s Hovercraft. And we�re confident the new materials will also meet or exceed the Navy�s exacting requirements." About Permanent Technologies, Inc. Permanent Technologies is the inventor and manufacturer of the award winning TineLok Fastening System � a family of fasteners that are designed to hold tight in the most demanding, extreme and harshest conditions, environments and applications. The TineLok Fastening System�s vibration-proof, self-locking technology is an affordable alternative to traditional fasteners when increased safety, reliability, operating life and reduced maintenance is desired or required. The Company has been granted numerous patents both in the U.S. and internationally for the TineLok technology. For more information please visit www.TineLok.com. Forward Looking Statements: This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete an acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements. This press release is provided for information purposes only and is not intended to constitute an offer to sell or a solicitation of an offer to buy securities.