Valley Forge Composite Technologies Announces Two Independent Board Members Will Be Joining The Board Of Directors
COVINGTON, Ky., Feb. 4, 2013 /PRNewswire/ -- Valley Forge Composite Technologies, Inc. (OTC BB: VLYF), developer of state-of-the-art detection systems, including the THOR-LVX photonuclear detection system, today announces that its Board of Directors membership has been expanded from seven to nine persons and that Dan Cayse, CPA, retired Dean of Business Technologies Division, Cincinnati State Technical and Community College, has been appointed to the Board effective January 31, 2013. Madame Ursula Cernuschi, President, Caravan International, an export management company dedicated to space and aerospace programs overseas, has also been appointed to the Board effective April 30, 2013. "We are very excited to be adding two highly qualified new independent Board members to our Board of Directors," stated Lou Brothers, President, CEO, CFO and Chairman of the Board of the Company.
About Valley Forge
Valley Forge Composite Technologies, Inc., has positioned itself to develop and acquire advanced technologies. Between 1996 and 2012, the Company won numerous contracts to produce various momentum wheels, momentum wheel components and other mechanical devices for special applications, some in aerospace. Historically, and in 2012, all of the Company's sales have been derived from these momentum wheels, momentum wheel components and other mechanical devices. The Company purchases components from a variety of sources and engages in direct selling to its customers.
Since September 11, 2001 the Company has focused much of its energy on the development and commercialization of its counter-terrorism products. These products consist of an advanced detection capability for illicit narcotics, explosives, and bio-chemical weapons hidden in cargo containers, the THOR-LVX photonuclear detection system , and a passenger weapons scanning device, ODIN. In late 2009, the Company and its partners completed the development of THOR-LVX photonuclear detection system in Russia, and the system has been demonstrated through testing conducted by P.N. Lebedev Physical Institute of the Russian Academy of Sciences, the premiere physics laboratory in the Russian Federation, to be operational and performing to the Company's satisfaction.Valley Forge Composite Technologies, Inc. was founded in 1996 and is headquartered in Covington, Kentucky. More information about Valley Forge Composite Technologies, Inc. can be found at www.vlyf.com . Forward-Looking Statement The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for certain forward-looking statements. Statements in this press release that relate to Valley Forge Composite Technologies, Inc.'s future plans, objectives, expectations, performance, events, reports made by others and the like, including a statement about the assumptions underlying a forward-looking statement, are forward-looking statements protected by the safe harbor. All statements, other than statements of historical facts, that address activities, events or developments that the Company intends, expects, projects, believes, estimates, plans or anticipates will or may occur in the future are forward-looking statements. The words "believes," "anticipates," "estimates," "expects," "plans," "intends," "projects" and similar expressions are intended to identify these forward-looking statements, but are not the exclusive means of identifying them. Investors should understand that future events, risks and uncertainties, individually or in the aggregate, are factors that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements.
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