Quincy, MA (PRWEB) November 24, 2014
Permanent Technologies, Inc. (Pinksheets: PERT.PK) announced an international licensing partnership with Broadbrand International Limited. The exclusive agreement calls for Broadbrand to represent Permanent Technologies' intellectual property in Europe, Hong Kong, China and throughout Asia.
"We believe engaging Broadbrand to license our internationally patented technology is a perfect complement to our domestic business strategy," said Frederick Barry II, President of Permanent Technologies. After spending the last six months planning with the Broadbrand team, we feel very comfortable moving forward in this direction with them."
"Licensing has the potential to gain quick visibility internationally, provide upfront licensing fees, minimum revenue targets, royalties, with less exposure and lower financial investment by the Company."
Broadbrand is headquartered in Shenzhen, China with operations in France, Singapore, Korea and UK. Their experience spans decades operating in China and across Asia at senior management level. Their clients include DuPont USA and other major international brands in the consumer durables, construction materials and engineering sectors.
"We're confident in our ability to introduce Permanent Technologies to Asian companies eager to license their innovative intellectual property and technology. Our management team has had many years of experience, and is familiar from an engineering standpoint with the Tinelok™® product and its benefits. We believe the Tinelok™® product line has many licensing options internationally,” said Jeremy Waller, Director and Partner of Broadbrand International Limited.
According to HKTDC Research, Global retail sales of licensed goods amounted to US $153.2 billion in 2012. China is the world’s fastest growing market for licensed goods, which has grown to more than US $5 billion in 2012. In 2012 alone, licensed merchandise sales in China grew by 9.1%, far exceeding the global average of 1.6%.
"Three things influenced our decision to work with Broadbrand: Deep experience with licensing in international markets, key executive contacts in global companies, like DuPont, and a proven methodology combining market research with customized action plans," added Fred Barry II.
"Given the tremendous appetite for licensed products in Asian markets and Broadbrand's proven expertise, we anticipate great things from this relationship in 2015."
About Permanent Technologies, Inc.
Permanent Technologies is the inventor and manufacturer of the 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. Both TineLok™® and Universal Lok™® are trademarks of Permanent Technologies, Inc. For more information, please visit http://www.TineLok.com.
Forward Looking Statements:
This press release contains certain "forward-looking" statements 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.