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-Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology based energy saving and sustainable solutions announced today that the Company's plan to open a Corporate sales office in India is making significant positive progress. The company has already begun filling sales orders from new India manufacturing customers and has forged an alliance with an established equipment manufacturer in Bangalore who will act as a sales representative and applicator. The Company is also reviewing locations for warehousing and office space in Bangalore.
"Since we began our plans to open a sales office in India, we've made significant progress," stated Francesca Crolley, VP of Business Development for Industrial Nanotech, Inc. "Our marketing efforts have already produced over $18,000.00 US in sales to industrial manufacturers in India even before our office has officially opened. The companies there are truly progressive when it comes to energy savings, and have made it clear they are looking for the solutions that our patented Nansulate® energy saving coatings provide. Additionally, after a meeting with a Bangalore based equipment manufacturer, we have forged a relationship where their company will not only promote the coating to their current clients, but also act as a sales representative and applicator for Nansulate® in Southern India. This gives us a distinct advantage to grow sales and lead generation prior to our office opening, and should further accelerate our market penetration in this important country."
India's manufacturing sector kept up its steady expansion in May, with fast-rising output evened out by slowing growth of domestic order books. The HSBC manufacturing Purchasing Managers' Index (PMI), compiled by Markit, slipped marginally to 54.8 in May from 54.9 in April. It has stayed above the 50 mark, that separates growth from contraction, for a little over three years now. The PMI survey showed new export orders continued to grow at a strong pace in May, despite economic and political strife taking hold in Europe, one of India's main trading partners.
About Industrial Nanotech, Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and research leader and member of the U.S. Green Building Council. The Company develops and commercializes new and innovative applications for sustainable nanotechnology which are sold worldwide.
Nansulate® is the Company's patented product line of award winning, 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, fire resistance, chemical resistance and lead encapsulation in an environmentally safe, water-based, coating formulation. The Nansulate® Product Line includes industrial, residential, agricultural and solar thermal insulation coatings. Additional information about the Company and its products can be found at their websites, (www.inanotk.com) and (www.nansulate.com). Blog: www.nansulate.com/nanoblog, Twitter: www.twitter.com/NanoPioneer, Facebook: www.facebook.com/Nansulate.
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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Industrial Nanotech, Inc.
Francesca Crolley, US & Canada: 800-767-3998
International: +1 239-254-0346
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