Industrial Nanotech (PK) (USOTC:INTK)
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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader
in nanotechnology, continued its international expansion with the
announcement today that the exclusive distributor in Africa for the
Company’s patented Nansulate®
energy saving coatings, Megaros Industrial Products Inc., has signed an
agreement with Henriboss Global Marketing Nigeria Inc. to represent the
Company’s product line in Nigeria.
“There is an abundant market for Industrial
Nanotech's Nansulate energy saving coating products in Nigeria,”
stated Uche Mbachu, president of Henriboss Global Marketing. “With
our extensive experience in marketing and promoting international
products in Nigeria and West Africa, Henriboss will make Nansulate
products a household name in this region.”
The Oil and Gas Journal estimated that Nigeria contains proven
oil reserves totaling 35.2 billion barrels. The Nigerian government
plans to expand its proven reserves to 40 billion barrels by 2010. In
2007, Nigeria and Angola combined exported more oil to the US than Saudi
Arabia. In addition, a proven reserve of 260 trillion cubic feet of
natural gas has enhanced Nigeria’s strategic
significance further. The country already supplies 10 percent of the
world’s liquefied natural gas.
“We had received several inquiries and
interest in distributorship for the country of Nigeria,”
explained James Umekwe, President Megaros Industrial Products, Inc. “After
a thorough and extensive review of all candidates, we chose Henriboss
Global, located in Abuja, Nigeria with offices in Owerri, Imo State and
Brussels, Belgium.”
“Market penetration for the Nansulate product
line is much faster in international markets when represented by local,
knowledgeable companies such as Henriboss,”
continued Francesca Crolley, V.P. of Operations & Marketing for
Industrial Nanotech, Inc. “Nigeria is an
important player in the energy industry, which makes the region very
interesting to us. Our well established strategy of creating a global
sales and distribution platform now has the Company’s
products represented in over 30 countries around the world and has
provided protection for the Company’s revenue
stream growth rate from regional economic downturns.”
About Nansulate(R)
Nansulate(R) is the Company's patented product line of specialty
coatings containing a nanotechnology based material and which are
well-documented to provide the combined performance qualities of thermal
insulation, corrosion prevention, resistance to mold growth, and lead
encapsulation in an environmentally safe, water-based, coating
formulation. The Nansulate(R) Product Line includes both industrial and
residential coatings.
Nansulate(R) EPX is the Company's newest addition to their line of
nanotechnology-based coatings which has a four year track record of
providing energy and cost saving solutions for industry and homeowners
worldwide. Nansulate(R) EPX combines superior thermal insulating ability
with excellent corrosion resistance, chemical resistance, and flame
resistance in the EPX-4 version, making it a unique and powerful
protective coating for a wide variety of industrial and commercial
plant, equipment, and building applications. The EPX product line
presents a great value added proposition for industrial and OEM clients
with a fast cure time, revolutionary thermal insulation performance,
outstanding chemical resistance to both base and acid chemicals...
including 95% concentration sulfuric acid, and long-term protection
against metal corrosion in marine and deep sea environments. The coating
can be applied from 1/8" thick to several inches thick.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is quickly emerging as a global nanoscience
solutions and research leader. The Company develops and commercializes
new and innovative applications for nanotechnology. Additional
information about the Company and its products can be found at their
websites, (http://www.industrial-nanotech.com)
and (http://www.nansulate.com).
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: This release includes forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 that involve risks and uncertainties including, but
not limited to, the impact of competitive products, the ability to meet
customer demand, the ability to manage growth, acquisitions of
technology, equipment, or human resources, the effect of economic and
business conditions, and the ability to attract and retain skilled
personnel. The Company is not obligated to revise or update any
forward-looking statements in order to reflect events or circumstances
that may arise after the date of this release.