Posted Date: 02/08/2011
Permanent Technologies Outlines Progress Achieved in Creating New Opportunity for Its TineLok Vibration-Proof Fastening System, Along With Company Strategic Plans for the Upcoming Year
Permanent Technologies announced today its revised outlook and updated plans for 2011.
In October 2010, Mr. Patrick Tremblay joined Permanent Technologies as a Senior Advisor, and took on the role of Chief Executive Officer. His primary goal: raise awareness in the market, create new market opportunities for TineLok in the DoD (Department of Defense) and the OEM segment and further extend the Company’s existing relationship with the Department of the Navy to become an approved contactor on its Hovercraft program.
The Company believes that Mr. Tremblay’s efforts have been extremely successful. He has introduced TineLok into major OEM’s and Government General Contractors that have the ability to integrate TineLok into the products and programs they build.
Permanent Technologies now has direct connections into suppliers of our primary target segments; military, aerospace, heavy equipment, automotive and others.
“I’m really pleased with the reception TineLok has been getting from the major manufacturers, integrators and OEMs we’ve approached so far,” said Mr. Tremblay. “And in my experience this level of interest generally leads to significant opportunity.”
“We’re also seeing keen interest from major fastener distribution companies in supplying TineLok as a replacement for existing products to their existing customers. It is however possible the Company would license our intellectual property to these companies and earn licensing fees and royalties on sales.”
“At this point I also think it makes sense for Permanent Technologies to consider becoming a fully reporting public company. We understand what’s required to do this and are willing to devote the resources needed to get the job done.”
“In our opinion the benefit of the transparency of being a fully reporting company is increased credibility to the billion-dollar customers we …
Source : American Fastener Journal – Read full article on the given date in the news section via American Fastener Journal.