|By PR Newswire||
|March 6, 2014 10:00 AM EST||
ROYAL OAK, Mich., March 6, 2014 /PRNewswire/ -- Bonal International, Inc. (OTC: BONL) announced that the Board of Directors appointed Thomas E. Hebel as Chairman, President, and CEO of both Bonal International Inc. and its subsidiary Bonal Technologies, Inc. Hebel was interim President for Bonal from April 2010 through December 2012. During that time Bonal posted profits in all eleven quarters, averaged 17.3 percent net after-tax profit, and paid record dividends in each of the three fiscal years. Hebel is a long time member of the Board of Directors and will celebrate his 40th anniversary with the Company in June 2014.
"I am honored that the Board of Directors has selected me to lead Bonal into the next exciting era of the Company," said Thomas Hebel. "Bonal's patented Meta-Lax® stress relief technology has achieved numerous record-breaking successes in the metalworking industry. Switching to Meta-Lax® saves our customers time and money, while simultaneously improving stress relief quality over the 100-year-old heat-treat method. For Bonal, the next step forward will be to transform these numerous individual successes into comprehensive marketplace acceptance that, in turn, should increase corporate revenue and increase shareholder value. In addition, I would also like to investigate improving the liquidity of our stock by listing Bonal on the Electronic Bulletin Board."
The Annual Meeting of Bonal's stockholders took place on February 12, 2014. At that meeting two candidates, George Harrison and Harold Hebel, were nominated from the floor and elected to join the Board of Directors of Bonal International.
George Harrison is a private investor, businessman, and retired tax and securities attorney. He retired from his law firm in 1984 to concentrate on business and investments. Harrison has an extensive background in venture capital, mergers and acquisitions, and has actively founded numerous private companies, some progressing to trade on NASDAQ. He also founded an investment banking company in 1990. From 1980 through 2001 he is credited with taking public more than 50 companies, including Bonal in 1990. Harrison has served as Chairman, President, CEO, and Corporate Secretary for many public and private companies.
Harold Hebel, CPA, has a 15-year background in accounting, auditing and finance predominantly with an international public accounting firm. His experience includes auditing both public and private companies in a variety of industries and has been an instructor for several accounting training courses.
George Harrison and Harold Hebel join the re-elected Board members including August G. Hebel, III, Betty Jean Hebel, John Hebel, Paul Hebel, and Thomas Hebel.
The Board of Directors on February 24, 2014 also appointed Paul Hebel as Vice Chairman, John Hebel as Secretary, and Harold Hebel as Treasurer and CFO. Paul Hebel owns and operates a custom service machine shop which specializes in planer-mill machining; the very same machine shop where the Meta-Lax® technology was first invented. John Hebel, a former employee of Bonal, currently is a senior buyer with a domestic automotive company.
Further, the Board of Directors appointed Gregory Merritt as Vice President of Bonal Technologies. Merritt has been with the Company for 23 years with over 20 years serving as Director of Marketing.
Bonal International Inc., through its wholly owned subsidiary, Bonal Technologies, Inc., is the patent holder and world's leading provider of sub-harmonic vibratory stress relief and weld conditioning technology. Bonal provides three lines of equipment Meta-Lax® Stress Relief and Weld Conditioning, Pulse Puddle Arc Welding®, and Black Magic® Distortion Control, which are sold in the United States and more than 60 countries worldwide. Headquartered in Royal Oak, Mich., Bonal serves the aerospace, automotive, defense, die casting, machine tool building, mining, molding making, power, racing, shipbuilding, and welding industries. Bonal's Meta-Lax® technology is used for eliminating thermal stress in metal parts, thereby preventing warping and cracking, at a fraction of the time, energy, and monetary costs of competing technologies. More information can be found at www.Bonal.com or by calling 1-800-Meta-Lax.
SOURCE Bonal International, Inc.