Permanent Technologies Inc. (PERT.PK) Delivers Latest Hybrid Version of TineLok Vibration Proof Fasteners to U.S. Navy for Installation on LCAC Hovercrafts

Latest design of PERT.PK TineLok fasteners meet and exceed U.S. Navy requirements for use on the LCAC Hovercraft and are engineered to increase serviceability with reduced overall cost

HUNTINGTON, N.Y.--()--Permanent Technologies Inc. (PINKSHEETS: PERT) announced they have just delivered a supply of the latest advanced hybrid version of their patented TineLok Vibration Proof Fasteners to the U.S. Navy for use on the LCAC Hovercraft.

"We worked closely with the U.S. Navy to engineer TineLok to meet the most severe conditions imaginable -- including extreme vibration and a highly corrosive environment -- experienced by Navy vessels. And TineLok exceeded the Navy's demanding performance requirements." said Pierre Dionne, President of Permanent Technologies Inc.

Each of the 72 Hovercrafts in the fleet employs a skirt system secured by approximately ten-thousand fasteners. Permanent Technologies' objective is for TineLok to replace the existing fasteners on every ship.

In addition the Company believes many other applications are possible for TineLok within the Navy and within other branches of the Military.

"Our new hybrid TineLok fasteners should be installed on the Hovercraft very soon for field testing. Once that test is successful we believe the Navy will roll out TineLok for the skirt system on all the existing Hovercrafts as well as new crafts being developed," continued Dionne.

Loren Ball, Chairman and Co-founder of Permanent Technologies added, "TineLok is a breakthrough product that can solve a major problem for the Navy. We're confident TineLok will make it easier and less costly to keep the Hovercraft fleet operating at maximum efficiency for longer periods of time. Plus there are clearly many other places we could deploy TineLok on the Hovercraft and other Navy vessels."

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.

Contacts

Permanent Technologies Inc.
Pierre Dionne, President
276-632-4054

Release Summary

http://tinelok.com PERT.PK Permanent Technologies Inc. has just delivered a new hybrid version of their patented TineLok vibration proof fasteners to the U.S. Navy for use on the LCAC Hovercraft.

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Contacts

Permanent Technologies Inc.
Pierre Dionne, President
276-632-4054