2013-01-24 14:37:53 -
HUNTINGTON, NY -- (Marketwire) -- 01/24/13 -- Permanent Technologies (PINKSHEETS: PERT) today announced the introduction of a new line of self-locking fasteners designed for plumbing applications. The new UniversalLok, product uses the Company's patented vibration proof TineLok technology and is designed to prevent faucets from losing their clamp load properties and adherence to the deck or sink they are mounted on during installation and ongoing use.
"This innovative application of TineLok technology enables us to solve a wide range of stubborn plumbing problems for the professional installer as well as the do it yourselfer (DIY) and enhance customer satisfaction in their daily use of their faucets," said company CEO Patrick Tremblay. "UniversalLok was developed with input from a major US faucet manufacturer along with design and engineering consulting from our new manufacturing partner, Autronic Plastics, Inc."
Autronic Plastics, Inc. is a full service multi-plant, injection molding and tooling manufacturing company. They offer Permanent Technologies: experienced in-house design, engineering and quality assurance resources, latest plastic fabrication and rapid prototyping equipment and the ability to partner for future research and development projects.
IBISWorld's "Plumbing Market Research Report" estimates the overall plumbing market at US$86 billion. And according to the Freedonia Group, US demand for industrial fasteners will reach $12.5 billion in 2013.
"The plumbing industry represents a huge opportunity for Permanent Technologies and a natural progression from the Military sector to the broad Commercial/Industrial marketplace," added Mr. Tremblay. "What began as one project with a single faucet manufacturer is becoming something transferable to a majority of faucet applications and broader commercial marketplace opportunities where clamp load performance with easy on/easy off, reusable properties is required. With UniversalLok we now have a cost-effective solution to present to every plumbing fixture manufacturer as well as home renovation specialists and do it yourselfers.
"And with Autronic Plastics, Inc. we have a proven manufacturing partner to produce our products with the highest quality, in any volume required and with the ability to adapt design changes extremely quickly. With this team and our innovative products, we believe Permanent Technologies can commence sales and production in the commercial markets."
About Permanent Technologies Inc.
Permanent Technologies is the inventor and manufacturer of the award winning TineLok Fastening System -- a family of military grade 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, reduced maintenance and tooling costs are desired or required.
The Company has been granted numerous patents both in the U.S. and internationally for the TineLok technology. Both TineLok and UniversalLok are trademarks of Permanent Technologies Inc. For more information please visit www.TineLok.com : 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.
Permanent Technologies Inc.
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phone: (917) 692-9080