Looks like PEARs are in season, GREAT NEWS OUT ahead of the bell this am:
Wednesday February 3, 8:03 am Eastern Time
Company Press Release
SOURCE: PEAR Industries
PEAR Industries(R) Signs Agreement with Attwater Group
TORONTO, Feb. 3 /PRNewswire/ -- PEAR Industries, a wholly-owned subsidiary of PEAR Technologies, Inc. (OTC Bulletin Board: PEAR - news) has entered into a formal agreement with the Attwater Group of Preston, England to supply the Company's PEAR(TM)(PolyEther Amide Resin) resins on an annual basis.
Established in 1868, the Attwater Group is a manufacturer of electrical insulation and composite and laminate machine parts. To date it has identified and developed over 19 applications incorporating PEAR's advanced performance resins including high temperature gaskets, cable insulation, leaf springs, sealing strips, thermal protective materials and machine parts for industries including chemical, steel, automotive, electronic fabrication, printing and electrical.
Attwater is currently using PEAR resins to fabricate springs used in papermaking machines. These springs have three to four times the life span of springs make from epoxies. The development of these additional applications opens up a vast global marketing opportunity for both companies.
In addition, Attwater Group officials have said that, ''the PEAR formulations meet industry demands for high performance laminates exhibiting high mechanical strength and the ability to withstand extreme temperatures. Combined with excellent electrical properties and exacting dimensional stability, PEAR's superior characteristics and cost savings make these materials a superior choice in the marketplace, and the latest advance in high performance resin systems.''
After 14 years and over $10 million in development costs, PEAR Industries offers the newest generation of advanced polymer resins that are superior replacements for traditional, and more costly materials like steel, aluminum and plastics. PEAR holds the exclusive worldwide rights to PolyEther Amide Resin, which was originally developed by Ashland Chemical for use in strategic defense applications. PEAR has taken this technology and created a low-cost, versatile, and superior alternative to traditional fabricating materials. PEAR is currently developing applications within many industries including aerospace and automotive including companies and divisions such as Boeing (NYSE: BA - news), Pratt & Whitney (NYSE: UTX - news), General Motors (NYSE: GM - news) and Allied Signal (NYSE: ALD - news).
The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of the company; the occurrence of which involves certain risks and uncertainties that could cause the company's actual results to differ materially from expected results. Such risks include the timing of implementation and the scope and success of the program described here.
SOURCE: PEAR Industries
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