Industrial Nanotech, Inc. Announces Appointment of Angstrom Technology Pvt. Ltd as Nansulate® Distributor for India
November 30 2009 - 7:00AM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanoscience solutions, today announced that the Company
has entered into an agreement with Angstrom Technology Private
Limited to serve as the Company’s exclusive distributor for India.
Angstrom Technology is a Unit of A.L. Batra Group of Industries,
which has 20 locations throughout India and 2008 sales of 106
million dollars US.
“We are very pleased to have found such an excellent
representative for our patented line of energy saving protective
coatings in India,” stated Francesca Crolley, V.P. of Business
Development for Industrial Nanotech, Inc. “A.L. Batra Group of
Industries is an aggressive, rapidly expanding, and dynamic company
in India, with over 3000 employees and sales over $106 million
dollars US in 2008. They are well established in multiple markets
which will benefit Nansulate’s rapid growth in the region including
chemical manufacturing, bottling of LPG, trading, retail,
construction, financing, hospitality and medical operations. The
group is also extremely progressive in energy conservation and
efficiency. In fact, their state-of-the-art hospital and medical
research centre was awarded a National Award for Energy
Conservation in 2007. India is a burgeoning market and one in which
we wanted to find a representative with a very strong presence and
the ability to promote the coatings in multiple markets at once. We
have found that with Angstrom Technology.”
The Indian economy is the second fastest growing economy in the
world today, with a growth rate of 7%-8%, behind only China. In the
worst quarter of the last two crisis years, immediately after the
Lehman collapse, India's GDP growth was 5.8 per cent. Global belief
in India’s economy has resulted in continuing Foreign Direct
Investment (FDI). In 2008 – 2009 the FDI was $27.3 billion in spite
of a meltdown in the global financial markets. FDI to India
increased by an impressive 56% in July 2009 to $3.5 billion as
against $2.6 billion in the same month last year.
About Nansulate(R)
Nansulate(R) 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(R) 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.industrial-nanotech.com) and
(www.nansulate.com). Blog: www.nansulate.com/nanoblog, Twitter:
www.twitter.com/NanoPioneer.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and
research leader and member of the U.S. Greenbuilding Council and
the American Solar Energy Society. The Company develops and
commercializes new and innovative applications for nanotechnology
which are sold worldwide.
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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