VitriSeal Announces Hiring of Executive Vice President
2 February 2000
VitriSeal Announces Hiring of Executive Vice President
DRAPER, Utah--Feb. 2, 2000--VitriSeal Inc. (OTC BB: VTSL) Wednesday announced that Paul G. Kokx has agreed to the terms of a four-year employment agreement effective Feb. 1, 2000, to serve as the executive vice president and general manager of VitriSeal's coatings subsidiary.The company anticipates that Kokx will be instrumental in the deployment of VitriSeal's technology, and he is expected to assist in gaining widespread licensees for the company's proprietary coating process. Kokx will be based in the Detroit area to give him convenient access to the automotive industry, the initial target market for the VitriSeal(TM) process.
Kokx graduated from Michigan State University's School of Engineering in 1980. He joined the Budd Co. where he was responsible for development of several new automobile products, including tubular frames, stamped steering knuckles, and high-strength steel door intrusion beams.
He later worked for General Electric Calma, a CAD/CAM supplier, as a senior consultant and was instrumental in the launch of several new application packages including metal forming analysis and parametric die design. Subsequently, he was employed by Premier Sales where he was responsible for the General Motors account.
Kokx was then recruited by Reynolds Metals Co. to launch an automotive components sales office in Detroit. During his tenure with Reynolds, he rose to the position of vice president of global wheels. He was also instrumental in the launch of several new manufacturing facilities, which included sophisticated automated coating systems.
In 1998, he was recruited to structure the purchase of a major automotive parts operation. Kokx has been a liaison between the company for the past nine months and its first licensee in the transfer of the VitriSeal process from the laboratory to a pilot line.
"I'm pleased to have the opportunity to assist with the rollout of the revolutionary VitriSeal technology," Kokx stated. "I believe that the aesthetic and functional characteristics of the VitriSeal process will render many traditional finishes obsolete, and that the scope of applications for this process and material are numerous."
Culley W. Davis, chief executive officer of VitriSeal, said, "We feel that the hiring of a person with the credentials, capabilities, and experience of Paul Kokx is a coup for the Company. With Paul on our development team, our efforts to complete the transfer of our successful laboratory results to a pilot line will be significantly enhanced.
"Paul has the experience and drive to execute the Company's business plans for strategic expansion and global growth. We expect that Paul's long-term commitment to VitriSeal will foster increased public confidence in our ability to see this project through to a commercial success."
VitriSeal Inc. owns the rights for a series of patented processes and proprietary know-how called VitriSeal(TM). The process is based on inorganic silicate chemistry that makes superior, hard, bright, clear, corrosion-protective coatings on metal surfaces at a fraction of the cost of other clear coatings.
In addition, as a waterborne coating, VitriSeal has little to no organic vapor emissions and creates minimal waste during the normal process operation. VitriSeal views existing products in the market as inferior in terms of performance, cost, and environmental impacts, giving VitriSeal a significant competitive advantage.
VitriSeal is continuing its efforts to transfer its successful laboratory results to a pilot line with a large, independent, after-market wheel manufacturer. The pilot line is being developed in accordance with a previously announced license agreement with the wheel manufacturer.
Statements in this release that are not strictly historical are "forward-looking" statements which should be considered subject to the many uncertainties that exist in the company's operations and business environment. These uncertainties, which include economic conditions, market demand and pricing, competitive and cost factors, and the like, are included in this release.