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.
