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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. What do you thinking about this profitable actually cheap OTC-BB stock ? Maybe a 10 baggers or no ? Your opinion please but no spam and no hype, just facts Thanks Gerber | ||||||||||||
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