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Subsidiary HPC to Ramp Up Production Capacity Over Next 24 Months
nCoat, Inc. (OTCBB: NCOA) ("nCoat" or the "Company") celebrated the Grand Opening of its headquarters recently with the announcement that the North Carolina-based facility operated by wholly owned subsidiary High Performance Coatings, Inc. ("HPC") plans to increase its workforce to a targeted level of approximately 300 workers within the next two years. The North Carolina plant applies both nano-formulated and micron particulate coatings to motorsports, automotive, diesel engine trucking, recreational vehicle and aerospace industry customers.
Grand Opening festivities kicked off on April 5th with the HPC-sponsored 50th anniversary spring drag race at nearby historic Piedmont Dragway, a launching pad for the careers of several motorsport legends. The HPC Big Dog Shootout provided an excitement-filled event culminating in a grand finale race won by Todd Tutterow in his supercharged Mustang, racing the one-eighth mile drag strip at 168 miles per hour in 4.28 seconds. HPC regularly participates in many of motorsports' premier local and national events. HPC's motorsports customers have long been among the early adopters of leading edge coating technologies. From beginnings in the motorsports industry, coatings have found mainstream uses in consumer industries.
The following day, nCoat and HPC hosted a community event on the grounds of their new Whitsett, North Carolina headquarters and manufacturing plant. The Grand Opening event showcased over 1 million dollars worth of exotic, historic and specialty vehicles including race cars, heavy transport vehicles, street rods, collector cars and motorcycles.
A beautiful spring day in North Carolina provided a perfect backdrop for the successful and well-attended event. Representatives from local municipalities, state representatives, corporate and university officers and researchers, employees and families as well as members of the media and public gathered for the official ribbon cutting and festivities.
Notable individuals in attendance included Secretary James Fain, Secretary of the North Carolina Department of Commerce and many of his key economic development and science advisors, as well as Mr. Stephen M. Ross, Mayor of the City of Burlington, representing nearly 50,000 citizens located adjacent to the Whitsett plant.
During the ceremonies, Company CEO Paul Clayson expressed the degree of pride he felt regarding the employees' level of commitment to the company and their customers. Speaking to the nCoat decision to locate in North Carolina, Secretary Fain stated, "We are not surprised that you are so proud of the people who work here. I think that's what North Carolinians are all about... You will be a leading edge company in this 21st century economy... I feel truly blessed that you have put a big anchor in North Carolina."
Company CEO, Paul Clayson commented, "This great turnout provided an excellent opportunity to share a bit of our company with our new neighbors and colleagues. In this plant, the future of commercial nanotechnology science becomes reality where HPC helps provide technology that improves clean air standards while improving performance of diesel engine trucks and helps race vehicles operate cooler, more efficiently, and faster. We are proud to lead the way in our industry and support this dynamic regional economy."
About nCoat, Inc.
Formed in 2004, nCoat, Inc. is an emerging nanotechnology company with new nano-formulated and traditional coatings that make it an international leader in the development and marketing of coatings applied to metal, ceramics, fabric, and other materials. The company specializes in nanotechnology research, commercialization, licensing, and distribution, and through its subsidiary companies develops and distributes commercially viable proprietary nanotechnology and traditional coatings products. At nCoat, we invite the world to "Innovate with us....."
About HPC, Inc.
HPC has been an integral part of the motorsports industry since 1982. The company has coated parts for multiple Motorsport Hall of Fame inductees and land and air speed world record holders. This rich racing heritage has led HPC to be nicknamed 'The Choice of World Champions.' HPC develops, manufactures, and applies coating (surface treatment) solutions for thermal management, anti-corrosion, friction reduction, bond strength, and appearance. HPC is a particular market leader in internal and external engine parts coatings in automotive and diesel engines. At HPC, there IS a difference... and the difference is superior performance.
Except for statements of historical fact, the information presented herein may contain forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which nCoat, Inc. has little or no control.
ON BEHALF OF THE BOARD
Paul S Clayson, Chief Executive Officer
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