Home > Press > Industrial Nanotech, Inc. Announces Change in European Manufacturing Plans
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that the Company will supply its European, Asian, and Middle East customers from the Company's new manufacturing facility in New Brunswick, NJ and will not be opening a manufacturing facility in Europe at this time as previously announced.
Industrial Nanotech, Inc. Announces Change in European Manufacturing Plans
NAPLES, FL | Posted on May 14th, 2008
"With the new plant in New Brunswick, NJ, we have solved the problems of transatlantic shipping cost and shipping times that have made it difficult to adequately service our critical and rapidly expanding markets in England, Ireland, Italy, Turkey, the UAE and throughout Europe, Asia, and the Middle East," states Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. "For instance, the easy access to the port of New Jersey and the direct sea routes from there to Rotterdam combined with fast and efficient rail service lowers the current shipping time to Turkey or Italy from two or three months to less than two weeks and reduces shipping costs by a significant amount. This is more than sufficient to meet the needs of our customers in the region without the added expense and logistical difficulties of setting up and managing a manufacturing facility in a foreign country. The increased speed of delivery of product will eliminate frustration and increase sales to international customers who don't want to wait months for the product, and there are many. At this time, we firmly believe this is the most cost and time efficient solution."
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, lead encapsulation, chemical resistance and flame resistance 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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