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HARBOR ACQUISITION CORPORATION | Jack Jenson | Elmet Technologies, Inc. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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EXHIBIT 99.01
For Immediate Release
March 21, 2007
HARBOR ACQUISITION CORPORATION AND ELMET TECHNOLOGIES,
INC.
ANNOUNCE COMPLETION OF ELMET’S EMPLOYEE CONTRACT RENEGOTIATION
Boston, MA and Lewiston, ME, March 21, 2007 —Elmet Technologies, Inc. (“Elmet”), a privately-held, fully-integrated manufacturer of custom designed and engineered Advanced Enabling Materials products, today announced the successful renegotiation of its collective bargaining agreement with The International Brotherhood of Teamsters. This contract was set to expire on April 15, 2007. The negotiations resulted in a new 6-year contract which expires on April 14, 2013.
Jack Jenson, CEO of Elmet Technologies stated, “We are extremely pleased to have successfully renegotiated our collective bargaining agreement which covers all of Elmet’s approximately union employees. The new terms represent a fair and balanced agreement for both the company and our employees. With the renegotiation behind us, our skilled and dedicated workforce is well positioned to continue to focus on the growth of the company.”
On October 17, 2006, Elmet Technologies announced that it had signed a definitive agreement to be acquired by publicly traded Harbor Acquisition Corporation (AMEX: HAC, HAC-U, HAC-WT) (“Harbor”). Following consummation of the acquisition, Elmet’s current management team, led by Jack Jensen, CEO, will continue to lead the organization and the combined company will change its name to Elmet Technologies Holdings, Inc.
About Elmet Technologies, Inc.
