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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that the Company's exclusive distributor in Africa for their patented Nansulate® energy saving protective coatings, Megaros Industrial Products Inc., has expanded their corporate operations to the country of Botswana through an agreement with Copper Sunset Trading 440 (Pty) Ltd.
The president of Megaros Industrial Products Inc. Mr. James Umekwe, in collaboration with the founding members of Copper Sunset Trading 440 (Pty) Ltd, Brad Emmett and Mark Pringle, commented, "We realize the true value and benefits that the Nansulate product range will provide to this thriving economy within the industrial and commercial sectors. We are securing strategic business partners through the extension of existing channels of trade and by the creation of new opportunities."
Botswana is regarded by most economists as one of Africa's major success stories. Since gaining independence, it has long maintained one of the highest economic growth rates in the world, averaging approximately 9% per year over a 33 year period and moving from the third poorest nation in 1966 to being an "upper middle income" country by the time it celebrated its pearl anniversary in 1996.
"We consider Africa an important part of the world and we are pleased with the progress that Megaros and Copper Sunset Trading have been making," stated Francesca Crolley, V.P. of Operations & Marketing for Industrial Nanotech, Inc. "They received their first shipment in March and have been working with the US Consulate office in Cape Town on business strategies to expand the market for Nansulate in this region rich with opportunity."
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.
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, (www.industrial-nanotech.com) and (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.
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