AndhraNews.net
Home » Business News » 2011 » April » April 13, 2011

TineLok Exceeds Specifications and Tolerance Thresholds in Rigorous Tests for U.S. Navy Hovercrafts


April 13, 2011 - Huntington, NY

Permanent Technologies (PINKSHEETS: PERT) announced that TineLok exceeded specifications and tolerance thresholds in tests conducted by the United States Navy related to TineLok's use on the LCAC Hovercraft.

TineLok is a breakthrough product that inexpensively solves safety, reliability and serviceability problems caused by fasteners loosening under extreme conditions.

"The global fastener market is estimated at approximately fifty-five billion dollars," said Patrick Tremblay, CEO of the Company. "TineLok has cost and performance advantages we believe will help Permanent Technologies to be specified for huge projects across diverse industries."

Because TineLok required no special tooling for installation or replacement the Navy expects reduction in labor, tooling, and overall maintenance costs. And, most importantly, they believe that with TineLok they will experience less downtime for all ships in the fleet.

"Testing with the Navy has gone extremely well and TineLok outperformed in all cases. We are optimistic that contract discussions could begin in first half of 2011," Tremblay continued.

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:

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

MarketWire

Comment on this story

Share