Industrial Nanotech Cancels US Retail/Warehouse Expansion Plans To Continue Focus On New Product Development and Proven High Gro
June 27 2008 - 7:00AM
Business Wire
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. �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. About Nansulate(R)
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,
(http://www.industrial-nanotech.com) and
(http://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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