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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that it has awarded the exclusive distributorship for Malaysia to Global Globe (M) Sdn Bhd. Global Globe operates in key sectors of technology, government supply, oil and gas, power and construction and currently has annual sales of 140 million dollars US.
"Global Globe has a very impressive track record of success in the Malaysia region - especially in markets that could benefit substantially from our Nansulate line of thermally insulating anti-corrosive coatings," states Francesca Crolley, VP of Operations and Marketing for Industrial Nanotech, Inc. "Their strong relationship with, and contacts within, the Malaysian government have resulted in the granting of 210 million dollars in multi-year projects for Global Globe so far in 2007. Their participation in the tender to supply 280 million dollars in gas pipes to Petronas Gas, the government owned oil and gas company, for its gas pipeline project in Sabah and Sarawak in Malaysia were an important consideration in our decision-making process."
Ms. Crolley continues, "The technical application specifications that are currently being developed jointly by our team here in the US, our technical staff in Rio De Janeiro, and Senior Coatings Engineers at Petrobras headquarters in Brazil for our project with them will be a valuable asset to Global Globe as they move forward on their 280 million dollar deal with Petronas." Earlier this year, Industrial Nanotech announced the procurement of a request from Petrobras, the Brazilian gas and oil giant, for the Company's its thermal insulating and corrosion protection coating valued at more than 3.7 million dollars for a project in Brazil.
During the last decade, the Malaysian economy achieved average annual growth rates of about 7% while GDP doubled to reach an estimated RM219.4 billion (US$57.7 billion) in 2002. Exports and imports have almost quadrupled to reach RM349.6 billion (US$92.0 billion) and RM298.5 billion (US$78.6 billion) respectively, placing Malaysia among the world's top 20 trading nations.
About Industrial Nanotech, Inc.
Industrial Nanotech, Inc. is rapidly 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 ).
Nansulate® is the Company’s patented product line of industrial and residential coatings. Nansulate incorporates a nanotechnology based material into a high quality water-based coating system which provides the combined performance qualities of thermal insulation, corrosion prevention, resistance to mold growth and lead encapsulation. Nansulate is a green, environmentally safe product which promotes energy savings.
About Global Globe
Global Globe is a diversified company, and with a subsidiary company focusing on the oil and gas sector. The company and its subsidiaries provide services for power distribution facilities, construction of roads and buildings, enhanced oil recovery, improved oil recovery, drilling of oil/gas wells, and other related activities.
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.
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For Industrial Nanotech, Inc., Naples
Martin E. Janis & Company, Inc.
Beverly Jedynak, President, 312-943-1100 ext. 12
Martin E. Janis & Company, Inc.
Laura Grock, Vice President, 312-943-1100 ext. 13
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