HUNTINGTON, N.Y., July 29 /PRNewswire-FirstCall/ -- Permanent
Technologies (Pink Sheets: PERT), developer of the TineLok
vibration proof fastening system, announced today that Pierre Dionne has been named President and
Director of the Company.
Mr. Dionne has over twenty years experience as both as a
principal and senior operating executive of several industrial
product and service companies. These companies provided specialized
products and services to Government clients like the U.S. Army,
U.S. Coast Guard and other branches of the armed services as well
as to major corporations, like Lockheed-Martin, Northrop-Grumman,
Celanese Corp., Robert Bosch Corp, IBM, and many others.
"I believe TineLok has huge potential for industrial, commercial
and consumer markets," said Dionne. "My plan is to leverage our
relationship with the U.S. Navy as well as my own Government and
Industrial marketing experience to introduce TineLok to additional
applications.
"The Navy has provided valuable input over the past year from
which we plan on refining the TineLok fastener. We believe
these refinements will put us in a position to help the Navy solve
a decades-old maintenance problem with the LCAC Hovercraft skirt
system. The outcome of this collaboration could result in
additional projects using TineLok with the Navy.
"As an Intellectual Property focused company, one of my main
objectives for 2010 is to identify key resources to help with the
manufacturing and marketing of TineLok. This will allow
Permanent Technologies to apply its internal resources to
developing additional applications for its patented vibration-proof
technology."
Loren Ball, Chairman of Permanent
Technologies added, "I have every confidence Pierre will build on
the positive momentum we started with TineLok last year. I'm also
confident, in the future, TineLok has the potential to be used by
companies in aerospace, automotive and marine industries. I believe
TineLok can be an ideal solution for applications that need the
reliability, reduced maintenance costs, and increased safety our
vibration proof fasteners can provide."
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.
SOURCE Permanent Technologies
