puraDYN joins Roster of Amex-listed stocks
BOYNTON BEACH, Fla.--Dec. 13, 2001--By-Pass Oil Filtration System Launched into Huge, Growing Market
puraDYN Filter Technologies, Inc., a global, unique filtration system for internal combustion engines, began trading on the American Stock Exchange (R) (Amex (R)) today under the ticker symbol PFT.
puraDYN manufactures and markets a unique and patented By-Pass Oil Filtration System that has been certified as a pollution preventing technology by the California EPA. Industry sources estimate that the size of this market is in excess of $20 billion.
Joseph Vittoria, chairman of puraDYN, shared management's vision for the Company's decision to associate with Amex and embark on a strong marketing campaign for customers and shareholders. "Our move to Amex should boost puraDYN's awareness to the investment community and improve liquidity."
Mr. Vittoria concluded, "We are committed to improving our brand recognition for customers and shareholders in this large and untapped marketplace. Amex will provide an excellent platform for our marketing campaign."
About puraDYN
puraDYN is a unique and proprietary oil filtration system that is effective for all internal combustion engines, hydraulic applications and automatic transmissions in the automotive, transportation, construction, marine, agriculture, mining, military and power generating industries. The market is estimated to be in excess of $20 billion for units and is currently not being served. The product is recognized for economies of scale and efficiency by extending equipment life. Market growth is strong and accelerating as a result of economic activity and emission control requirements.
For more information on puraDYN Filter Technologies Inc., visit www.puradyn.com
With the exception of the historical information contained in this news release, the matters discussed above include forward-looking statements that involve risks and uncertainties. Actual results may vary substantially as a result of a variety of factors. Among the important factors that could cause actual results to differ are the ability of the Company to increase revenues and gross profit margins, the levels of selling, general and administration costs as well as research and development costs, validation of the puraDYN Filtration System by OEMs and the effects of competition. The failure of any of these factors could cause actual results to differ materially from the forward-looking statements discussed above.