GMTech (PK) (USOTC:GMTH)
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Global Matrechs, Inc. (OTCBB: GMTH) is pleased to
announce that its licensed HNIPU flooring and corrosion-protection
products have become eligible for importation into the United States
in accordance with the rules promulgated by the Environmental
Protection Agency (EPA). HNIPU is a group of new chemical substances
that had no previous registration with the EPA. The Company holds an
exclusive worldwide license from Eurotech, Ltd. to market, manufacture
and sell all HNIPU products, including the flooring binders and
coatings version of the chemical.
HNIPU, a modified polyurethane that does not use the toxic
isocyanates found in conventional polyurethanes, was not previously
registered with the EPA for importation or manufacture into the United
States. However, Global Matrechs completed and filed with the agency
Pre-Manufacture Notices (PMN) for HNIPU's flooring and
corrosion-protection products, and the EPA review period expired
without rejection of applications. Global Matrechs may now begin the
importation and / or manufacture of the subject products. The Company
plans to file additional PMN applications with the EPA for other HNIPU
products in the near future.
In addition to the above, Global Matrechs has amended its
non-exclusive Agreement with Environmental Friendly Materials GmbH,
which originally established a production base in Europe. The
Agreement was amended to include the United States in its sales
territory.
The HNIPU product can be incorporated into many applications
including crack-resistant composite materials, chemically resistant
coatings, industrial flooring sealants, glues and paints. Its many
outstanding properties are beneficial to such industries as the
automotive, aerospace and construction, marine and industrial
equipment industries. The main and distinct technical advantage of
HNIPU is that while it has the mechanical properties of conventional
polyurethane, it has a higher chemical corrosion resistance comparable
with epoxies that lack the mechanical properties necessary for such
resistance.
Global Matrechs also owns the exclusive worldwide rights for
marketing, manufacturing and selling all of the NuCap(TM) materials,
formerly known as EKOR(TM), also pursuant to a license from Eurotech,
Ltd. The Company is delighted to be in the advanced stages of product
placement for NuCap(TM) and to have achieved EPA approval for HNIPU.
Global Matrechs also has the exclusive worldwide rights to all
technologies listed on our website (www.globalmatrechs.com). For a
description of our licensed products, please see our filings with the
Securities and Exchange Commission (including our Current Report on
Form 8-K filed with the Commission on June 6, 2003). These filings are
public documents and may be found on the Commissions website
(www.sec.gov).
"Forward-Looking Statements"
Investors are cautioned that certain statements contained in this
press release as well as some statements in periodic press releases
and some oral statements of Company officials during presentations are
"forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking
statements include statements which are predictive in nature, which
depend upon or refer to future events or conditions, or which include
words such as "expects," "anticipates," "intends," "plans,"
"believes," "estimates," "hopes," "seeks," or similar expressions. In
addition, any statements concerning future financial performance
(including future revenues, earnings or growth rates), ongoing
business strategies or prospects, and possible future actions, which
may be provided by management, are also forward-looking statements as
defined by the Act. Some of the factors that could significantly
impact these forward-looking statements in this press release include,
but are not limited to, the availability of capital resources, ability
to obtain financing, ability to commercially market products and
technologies, intellectual property rights, including its rights to
the technologies that it licenses, and growth plans for expanding its
operations. Forward-looking statements are based upon current
expectations and projections about future events and are subject to
risks, uncertainties, and assumptions about the Company, its licenses,
products, economic and market factors and the sectors in which the
Company does business, among other things. These statements are not
guarantees of future performance and the Company has no specific
intention to update these statements. More detailed information about
those factors is contained in the Company's filings with the
Securities and Exchange Commission.