Gyrotron Technology Inc. Elects Jan H. Loeb to Its Board of Directors
BENSALEM, PA -- (Marketwired) -- 07/22/14 -- Gyrotron Technology
Inc. (PINKSHEETS: 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. (NASDAQ: 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 (NASDAQ: 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 - (PINKSHEETS: 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
Dr. Vlad Sklyar
Jack N. Mayer
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