Home > Press > Industrial Nanotech Cancels US Retail/Warehouse Expansion Plans To Continue Focus On New Product Development and Proven High Growth Markets
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that the Company will not be opening regional warehouse/retail centers in the US at this time as previously announced.
Industrial Nanotech Cancels US Retail/Warehouse Expansion Plans To Continue Focus On New Product Development and Proven High Growth Markets
NAPLES, FL | Posted on June 27th, 2008
"Focusing our resources on continued new product development appropriate for this era of rapidly rising energy costs and continuing to expand market share for our current and upcoming energy saving products in the still rapidly growing industries and regions of the world is a more appropriate strategy for maintaining our long trend of high revenue growth rate at this time," states Stuart Burchill, CEO of Industrial Nanotech, Inc. "Our new Nansulate EPX product line, with its industry high thermal insulation performance, our upcoming additions to our product lines, and our continued expansion into Asia, China, and the Middle East are proving to be very resilient sources of revenue growth in this unique economic environment and we will continue to focus on these productive and successful ventures for the foreseeable future. Additionally, because of our reputation as a technological innovator, we continue to receive requests from companies around the world for unique products with performance characteristics which are well within our abilities to provide. The market shows us what it is looking for and we continue to successfully develop and provide those solutions."
Nansulate EPX has an industry high thermal insulation capability combined with exceptional fire resistance and excellent chemical resistance. Nansulate EPX also provides protection against corrosion, the ability to be applied from one eighth inch thick to several inches thick, a rapid cure time, durability in severe service environments, and is a strong, very light weight, easy-to-apply material.
Industrial Nanotech, Inc. currently sells the Company's products through a network of exclusive distributors and independent representatives in countries around the world including China, United Arab Emirates, Australia, New Zealand, India, Indonesia, Singapore, Canada, Brazil, Italy, Spain, England, Ireland, Turkey and many other countries and continues to expand this platform with pending deals including an exclusive distributor in Saudi Arabia.
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 fire resistance in an environmentally safe, water-based, coating formulation. The Nansulate(R) Product Line includes industrial, residential, and automotive parts 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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For Industrial Nanotech Inc., Naples
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407-475-9966 ext. 227
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