TEVT seems good, what do you thinking about this news
Thursday March 25, 1:15 pm Eastern Time
Company Press Release
SOURCE: Technical Ventures Inc.
Technical Ventures Inc. Announces New Product
Release and Profitability
TORONTO, March 25 /PRNewswire/ -- Technical Ventures Inc. (OTC Bulletin Board: TEVT - news) announces the successful
launch of its patent pending ''Morfoam'' product. Morfoam is a revolutionary chemical additive that decreases the weight of plastic
products by up to 60%, while maintaining the finished product's strength and integrity. With less plastic needed for manufacturing,
the associated costs of materials can be significantly reduced. The process whereby Morfoam is added to the plastic mix also
reduces the amount of errors and defective products produced, thereby adding to additional quality control savings. Market
response to the product has been overwhelming and although sales have commenced, many potential customers have just
completed their evaluation process with most encouraging results.
In order to expedite sales of Morfoam, a sound distribution network is being established. The Company plans to open its first
distribution center in Buffalo, New York by April 1, 1999. Frank Mortimer, Technical Venture's CEO, states, ''Potential customers
have completed their testing and have advised us that Morfoam is the product of choice, including the following: a major
international toy manufacturer, plastic crate and skid manufacturers as well as manufacturers in the construction and marine
industries, with applications for plastic wood decorative trim and marine plywood.''
The Metal Products and Plastics Division of Technical Ventures is also experiencing strides in its growth, with some if its current
customers substantially increasing their order size over the last six months.
''We expect to realize our second consecutive profitable quarter and our future growth prospects are enormous,'' states Mortimer.
In addition, the Company has retained Coleman Capital Partners, Ltd. to assist it with corporate finance and strategic market
related issues. Coleman Capital Partners, Ltd. is a division of New York-based Coleman and Company Securities, a NASD
member investment banking and brokerage firm, serving the investment community since 1951.
Technical Ventures Inc. is a manufacturer of thermoplastic, composite and specialty compounds, which utilizes its proprietary
formulations for the production of lightweight plastic and metal products.
NOTE: Any statements released by Technical Ventures Inc. that are forward-looking are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking
statements involve risk and uncertainties that may affect the Company's business prospects and performances. These include
economic, competitive, governmental, technological and other factors discussed in the statements and in the Company's filings with
the Securities and Exchange Commission.
SOURCE: Technical Ventures Inc.
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