Press Releases
Abakan Appoints New Director and Chief Financial Officer
August 26, 2010
Abakan Inc. (OTCBB: ABKI) ("Abakan") is pleased to announce the appointment of Andy Sherman as a member of the board of directors and the appointment of Costas Takkas as chief financial officer and principal accounting officer.
Mr. Sherman has been in the nano engineered coatings field for 25 years and currently serves as chief executive officer for MesoCoat, Inc. (“MesoCoat”), an Ohio based advanced nanocomposite ceramic-metallic (cermet) coatings company, and Powdermet Inc. (“Powdermet”), a company which he founded in 1996 to develop nanocomposite materials and manufacturing technologies. Mr. Sherman has also served as the Chief Metallurgist and New Business Development Manager for Ultramet, Inc., a leading Chemical Vapor Deposition (CVD) company, in Pacoima, and has served on the United States Department of Energy’s Hydrogen Safety Panel review panel since 2006. Panel duties include interfacing with codes and standards, accident investigations, site reviews, H2 (hydrogen) project reviews, and H2 information and training, education, and best practices development.
Mr. Sherman received a M.Sc. and B.Sc. in Ceramic Engineering and a B.Sc. in Chemical Engineering from Ohio State University. He has authored more than 95 papers and presentations on ceramics, metallurgy and composite powder coatings and was recognized with the 2000 R&D 100 award for his patented nano powder production. Mr. Sherman was also recognized as a 2009 Ernst and Young entrepreneur of the year finalist.
Mr. Takkas, a practicing Chartered Accountant, brings to Abakan over 25 years of financial experience andexpertise. He has acted as a director and officer of numerous development-stage public companies involved with projects in the technology, mining, construction, gaming, drug development and medical equipment industries. Mr. Takkas currently serves as an officer and director of Sonnen Corporation, a development stage public company involved in research and development into alternative fuel cells and related technologies.
Mr. Takkas is a member of the Institute of Chartered Accountants in England & Wales (ACA) and graduated with a B.Sc. (Honors) in Physics and an Associate Royal College of Science (ARCS) from the Imperial College of Science and Technology, University of London, in 1978.
Abakan has accepted the resignation of David Greenbaum as an officer and director.
About Abakan Inc.
Abakan Inc. is a publicly traded company (symbol ABKI) which invests in and manages companies that have developed transformational surface modification solutions and technologies. Miami based, Abakan is now the single largest shareholder in MesoCoat, an Ohio based nanotechnology materials science company fast becoming a world leader in metal protection and repair through their revolutionary “long life” coating and “high speed” cladding technologies. MesoCoat’s solutions have already been the recipient of three prestigious R&D 100 awards, a Technology Innovation Program Award (TIP) for 100 year life coatings by the National Institute of Standards and Technology (NIST), and the NorTech Innovation Award for high performance environmentally friendly coating materials.
Forward Looking Statements
A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including technological obsolescence, market acceptance of future products, competitive market conditions, and the sufficiency of capital resources. The actual results Abakan may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Abakan encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K, Form 10-Q and Form 8-K. Abakan’s public filings may be viewed at www.sec.gov.
Abakan Inc.
www.abakaninc.com
Robert Miller, Chief Executive Officer
Phone: (786) 206-5368
Email: [email protected]