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Meeting Customer Needs, Progressive State Leadership and Nanotechnology Initiatives Combined With Accessibility to Markets and Excellent Workforce Key Factors
nCoat, Inc. (OTCBB: NCOA) ("nCoat" or the "Company") wishes to report that the selection of Whitsett, North Carolina as its headquarters and center for expansion into Nanotechnology has already exceeded Company expectations.
nCoat's corporate management and its wholly owned subsidiaries nTech, Inc. ("nTech") and High Performance Coatings, Inc. ("HPC") are operational and fully functional as cohesive business units headquartered within the new 65,000 square foot plant which includes facilities anchoring East Coast operations, and combined production, marketing, sales, engineering, manufacturing and distribution.
nCoat chose the Whitsett location as the result of a partnership with the state's Office of Economic Development. North Carolina provided a valuable asset base for the Company including a commitment to nanotechnology research, customer fit education at community colleges, a dedicated and highly educated work force, economic incentives, as well as introductions to several of the over 300 automotive, truck, defense, and aerospace parts manufacturers within a 200-mile radius from the new Headquarters location. Especially worth noting is the preexisting demand for HPC products in the motor sports industry, a highly competitive, innovative and growing sector with many major teams headquartered nearby.
"The proximity to our customer base has cut transportation cost and the inherent logistical expenses. Our customers have fully embraced our relocation," said Paul Clayson, CEO of nCoat. "The work of North Carolina public officials to integrate nCoat into economic development, nanotech and regional growth strategies has accelerated our integration here. The workforce has far exceeded our expectations for quality and quantity. This has been a very successful move for us."
The headquarters relocation of HPC was a major milestone for HPC. HPC growth has necessitated larger and more automated systems. Relocating to this industry rich region for the 25 year old company afforded new facilities and equipment, new customers, increased business from existing customers and multiple new prospects for business. Company officials project that the new HPC facility will bring 200-300 new jobs to the region over the next three years. Since its launch, the new facility has focused on protective and appearance coatings for heat management, corrosion & abrasion resistance, and friction reduction utilizing proprietary products including the development of nanotechnology based formulations delivering significant new levels of performance.
Of equal importance to nCoat's long term goals is the climate of local government commitment as shown by North Carolina's Board of Science and Technology ( http://www.ncscienceandtechnology.com ) which has publicly recognized that the importance of nanotechnology will be as critical to the future of the State as biotechnology is to its present. This visionary attitude is reflected at the federal level, through the auspices of the National Nanotechnology Initiative ("NNI") ( http://www.nano.gov/ ) which has been allocated over $1.5 billion to nanotechnology research in the federal government's most recent budget. The NNI proposes to spend $3.7 billion over the next four years to fund nanotechnology R&D through the recently enacted 21st Century Nanotechnology Research and Development Act.
Equally important to the overall success of the Company is the rapidly growing demand and opportunity for innovative leadership in the Nanotechnology sector itself. The National Science Foundation ( http://www.nsf.gov/ ), predicts that over the next 10-20 years, nanotechnology will fundamentally transform science, technology, and society, and as such, it holds tremendous potential for North Carolina and the nation. Current estimates hold that nanotechnology will open a $2 trillion plus market in 10-15 years and grow the worldwide workforce by at least 2 million people. North Carolina public officials have hailed nCoat as one of the early firms in the state to employ a workforce involved in the use of nano-formulated products.
About nCoat, Inc.
Formed in 2004, nCoat, Inc. is an emerging nanotechnology company focused on the development of 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 nTech, Inc.
nTech is a for-profit intellectual property research, development, engineering, distribution and licensing company. A wholly owned subsidiary of nCoat, nTech holds and manages all proprietary intellectual property for nCoat and its other subsidiaries. nTech provides engineered coatings solutions and consulting, developing nano-formulated and micron-formulated high performance coatings that provide superior performance for numerous industries including automotive, aerospace, medical, weapons, and diesel engines sectors. nTech also develops processes, equipment and strategies for high volume production, plant and engineering specifications, quality control, safety training, and logistical supervision.
About HPC, Inc.
HPC has been an integral part of the automotive industry since 1982. 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.
Notice Regarding Forward-Looking Statements
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. Statements in this press release which include words such as "anticipates," "plans," "potential," and similar terms may include forward-looking statements. Factors which could cause the Company's results to differ from the forward-looking statements include a decline or slower-than-anticipated growth in revenue opportunities related to the performance coating industry, and a decline or slower-than-anticipated growth in the demand and use for nano-formulated commercial products and related revenue streams for the Company, as well as listed in the "Risk Factors" sections of the Company's publicly filed reports. The Company expressly disclaims any obligation or intention to update any forward-looking statement
ON BEHALF OF THE BOARD
Paul S Clayson, Chief Executive Officer
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