SOURCE: Permanent Technologies, Inc.

Permanent Technologies, Inc.

December 22, 2011 08:30 ET

Permanent Technologies, Inc. Advances Into Commercial Markets and New Applications for TineLok Vibration Proof Self-Locking Fasteners With Global Plumbing Faucet Manufacturer

Permanent Technologies, Inc. Is Engaged in Advanced Discussions for the Use of TineLok With a Major Global Faucet Manufacturer; This Achievement Pushes the Company's Business Goals Approximately Two Years Ahead of Schedule for Moving Into Commercial Markets

HUNTINGTON, NY--(Marketwire - Dec 22, 2011) - Permanent Technologies (PINKSHEETS: PERT) reports achieving key goal of entering the commercial component systems markets ahead of schedule.

A new all plastic version of the TineLok fastener will be able to solve costly fixture loosening problems for a major plumbing faucet manufacturer. This customized version of the TineLok vibration-proof self-locking fastener will also include a new integrated "removal and reuse" feature, a significant TineLok product enhancement.

"We've been very busy leveraging our successes with the U.S. Navy to expand TineLok into other markets," said Patrick Tremblay, CEO of Permanent Technologies, Inc. "And as year-end approaches we want to share some recent achievements with investors."

Previously the Company reported United States Navy testing of TineLok on their LCAC Hovercraft, which operates in high vibration, extreme conditions. Success in these tests demonstrated to the Company that commercial markets would benefit from TineLok's cost effective self-locking vibration proof fastening system.

"Our goal has always been to attack commercial markets and applications with our products. TineLok is a natural fit for applications in automotive, appliances, heavy equipment and other segments. These industries would be clear beneficiaries of the solution TineLok offers."

"However we're thrilled these expansion plans are a full two years ahead of schedule, based on recent advanced discussions with a major global faucet manufacturer," continued Tremblay. "We believe the potential for this and many other commercial applications is just enormous."

Loren Ball, Chairman of Permanent Technologies added, "From the start we envisioned TineLok as a flexible, versatile and cost effective solution to pervasive fastener loosening problems caused by vibration and extreme conditions. The interest we're now seeing for TineLok to be included as part of a component system seems to validate our vision."

"Moving into 2012 we believe Permanent Technologies is better positioned for growth than ever before. We'll continue to pursue new business opportunities, applications and designs for TineLok as well as expanding our operational resources. All in all we're looking forward to an exciting year for our Company."

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.

Contact Information

  • Contact Information:
    Permanent Technologies, Inc.
    Patrick Tremblay
    email: Email Contact
    phone: (917) 692-9080