BENSALEM, PA--(Marketwired - July 22, 2014) - Gyrotron Technology Inc. (GYTI), a developer of innovative industrial technologies, announced today that Mr. Jan H. Loeb has been elected to its Board of Directors.
Mr. Loeb is Managing Member of Leap Tide Capital Management, LLC, a money management firm, and has more than 30 years of money management and investment banking experience, including four years as a managing director at Wasserstein Perrella. He also has broad experience as a director of public companies. From 1997 through 2014, he was a director of American Pacific Corp. ("APFC"). He became lead director of APFC in 2013, and in 2014 chaired the transaction committee in connection with the sale of APFC for over $500 million. Since 2009, he has been a director of TAT Technologies Ltd. (TATT) a provider of specialty heat exchanging equipment to military and commercial industries. In July 2013, Mr. Loeb became a director of Kid Brands, Inc., a designer and marketer of branded infant and juvenile products. Kid Brands, Inc. filed for bankruptcy in 2014. From 2006 to 2011, Mr. Loeb served as a director of Pernix Therapeutics Holdings, Inc. and its predecessor (PTX), a specialty pharmaceutical company, and from 2007 to 2011 as chairman of its audit committee.
"We are very pleased to have attracted such a highly qualified candidate to our Board of Directors," said Dr. Vlad Sklyar, President of GYTI. "We look forward to working together with Mr. Loeb as GYTI enters what we believe will be a phase of very rapid growth."
"GYTI has a number of patented and unique technologies that are on the cusp of revolutionizing various manufacturing techniques," said Mr. Loeb. "I am humbled and excited that I have been asked to join the Board of Directors and look forward to working with an exceptionally talented group of people and aiding the company as it embarks on its promising future."
About Gyrotron Technology - (GYTI) - GYTI develops and markets unique processing technology solutions for a broad range of industries, including glass, plastics, semiconductors, and food. Most of these utilize the gyrotron, a very powerful source of high-frequency microwave energy. These solutions open new horizons, substantially enhancing productivity and cutting costs by, among other things, applying heat in a dramatically more efficient and effective manner than is possible with legacy technologies. Please visit our website
http://www.gyrotrontech.com/ for additional information.
Forward-Looking Statements This release and the materials referred to herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, as they are based on current expectations and assumptions concerning future events or future performance of GYTI. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties inherent herein and in publically available information on GYTI. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.