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