The latest news from academia, regulators
research labs and other things of interest
Posted: September 20, 2007
Industrial Nanotech, Inc. Expands International Sales Success with New Representatives
(Nanowerk News) Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that the Company has secured representation for its patented nanotechnology-based Nansulate® product line in three new important countries.
The Company has awarded exclusive distribution rights for Ireland to its former Independent Sales Agent, Eric McGuirk. Additionally, the Company has accepted A.K. Chatterjee in India and Sun Wall Company, Ltd. in Taiwan as Independent Sales Agents.
"These newest representatives for the Industrial Nanotech family of products are part of our continued aggressive strategic geographic expansion around the globe," states Francesca Crolley, VP of Operations and Marketing for Industrial Nanotech, Inc. "Our international sales have experienced a growth rate of 150 percent in the past 12 month period compared to the previous comparable period and we anticipate continuing our current growth strategy of increased international distribution."
"As an example, Ireland has a proven need and interest in our products. Mr. McGuirk's early success under our non-exclusive Independent Sales Agent status in the region was the catalyst for his decision to purchase the exclusive distributorship for Ireland. Both India and Taiwan are rapidly growing countries looking for new and effective ways to reduce energy costs and carbon emissions. We look forward to the anticipated success of our two newest Independent Sales Agents serving these regions," continues Ms. Crolley.
Eric McGuirk, based in Dublin, Ireland states, "Since I started working as an independent sales representative for Industrial Nanotech, every sale I have made has filled me with the pride and knowledge that our product is going to make a huge difference to that customer. Now that I'm moving to Exclusive Distributor status, I would like to thank everyone in Industrial Nanotech for affording me the opportunity to make that difference on a larger scale. We all have a great sense of pride for what we are involved in."
Ireland has the second highest per capita income of any country in the EU next to Luxembourg, and fourth highest in the world based on measurements of Gross Domestic Product (GDP) per capita. The economy of India is the third largest in the world as measured by purchasing power parity (PPP). India is the second fastest growing major economy in the world, with a GDP growth rate of 9.4% for the fiscal year 2006-2007. Taiwan has a dynamic capitalist economy with real growth in GDP that has averaged about 8% during the past three decades. Major increases in residential and commercial construction projects in these countries are leading to demands for the latest energy efficient materials and technology.
Nansulate® is the Company's patented product line of specialty coatings containing a nanotechnology based material and which are well-documented to provide thermal insulation, prevent corrosion and resist mold. The Nansulate® 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, (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.