SOURCE: Abakan Inc

January 27, 2015 11:27 ET

Abakan Appoints Stephen Goss as Chief Operating Officer

MIAMI, FL--(Marketwired - Jan 27, 2015) - Abakan Inc. (OTCQB: ABKI) ("Abakan"), an emerging leader in the advanced coatings and metal formulations markets, today announced that, effective January 1, 2015, the Company has appointed Mr. Stephen Goss as its Chief Operating Officer. Mr. Goss will continue to serve as the Chief Executive Officer of Abakan's subsidiary MesoCoat, Inc.

"Stephen has played an extremely important role in streamlining our efforts to accelerate commercialization," said Abakan CEO Robert Miller. "Stephen brings decades of operational expertise which was acquired in managing several large-scale international operations. He has a relentless focus on improving operational efficiency and discipline, which characteristics are critical for Abakan to reach its goals."

Mr. Goss serves as a director of Gemocasha, S.A., a specialist consultancy group with an emphasis on providing technical, marketing and cash management advice to major firms such as Kraft, Heinz, Crystallex, and BP from 1987 to present. From 1992 to 1998 he also served as the chief executive officer of a mining firm Crystallex de Venezuela. He served as the CEO of Schindler Elevator in Venezuela from 1982 to 1987, a role in which he successfully integrated multiple acquisitions. He also served as the Technical Maintenance and Installation Manager for Schindler Brazil between 1979 and 1982, in which position he managed over 2,000 people and turned Schindler into one of the most efficient operations within Schindler worldwide. Mr. Goss speaks 5 languages fluently and has been decorated with the Order of the British Empire for his role in enhancing international trade.

"Since June, when I was appointed as the CEO of MesoCoat, our team has been able to improve yields on our PComP powder production by 60% thereby significantly improving the profitability of our PComP thermal spray coating powders; which are to my knowledge the best in the business in both performance and life," said Mr. Goss. "In addition, we have significantly improved the reliability of our CermaClad fusion cladding system which has enabled us to clad (coat) longer lengths of pipe moving us ever closer to our goal of developing full-length clad pipe. Reaching this objective should allow us to begin commercial sales of CermaClad clad pipes to the oil and gas industry. Furthermore, we have begun development efforts on producing wear-resistant clad plates to serve primarily the cement, mining, and steel industries. We are on track to complete development and qualification of our clad plates, and expect to begin sales in 2015. We believe that with our operational discipline and persistent focus on getting products to market, we should be able to deliver on our promise and potential in 2015," concluded Mr. Goss.

About MetalSol
MetalSol exists to inspire and create change in the metals sector. MetalSol believe in innovation and the power of making things different. By offering unique protection and refurbishments for components used in several industries, MetalSol achieves the extraordinary against corrosion and abrasion.

About Abakan Inc.
Abakan develops, manufactures, and markets advanced nanocomposite materials, innovative fabricated metal products and highly engineered metal composites for applications in the oil and gas, petrochemical, mining, aerospace and defense, energy, infrastructure and processing industries. Abakan's technology portfolio currently includes high-speed, large-area metal cladding technology; long-life nanocomposite anti-corrosion and wear coating materials. Abakan's products have demonstrated longer life, higher productivity and extremely high strength-to-weight ratios compared to competing technologies. The Abakan group of companies has been honored by The Wall Street Journal as the #1 Manufacturing Innovation across the globe, by Pipeline Industries Guild as the Top Subsea Pipeline Technology, by Forbes as the #1 Most Promising Material Science Company in the United States, by American Metals Market with the Steel Excellence Award, by Inc. 500 as one of the Fastest Growing Manufacturing Company in the U.S., and has received numerous other trade, industry and technology awards including five R&D 100 Awards and a Technology Innovation Award from the National Institute of Standards and Technology. Over $50 million has been invested in product development and testing by federal agencies, national labs and our companies in order to deliver products that offer improved performance over the current state of art. Abakan has successfully introduced its PComP™ W for metal asset protection and life extension in the oil and gas and mining industries, and is currently focusing on the scale-up and commercialization of its disruptive metal cladding products for the oil and gas, oil sands, and mining industries. Abakan currently operates from multiple locations in United States, and intends to expand global operations in Canada, South-east Asia, Mexico and South America.

Forward-Looking Statements
A number of statements contained in this press release are forward-looking statements. These forward looking statements involve a number of risks and uncertainties including technological obsolescence, market acceptance of future products, competitive market conditions, and the sufficiency of capital resources. The actual results Abakan may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Abakan encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K, Form 10-Q and 8-K. Abakan's public filings may be viewed at www.sec.gov.

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