Industrial Nanotech, Inc. Announces Change in European Manufacturing Plans
14 May 2008 - 10:18PM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanotechnology, announced today that the Company will
supply its European, Asian, and Middle East customers from the
Company�s new manufacturing facility in New Brunswick, NJ and will
not be opening a manufacturing facility in Europe at this time as
previously announced. �With the new plant in New Brunswick, NJ, we
have solved the problems of transatlantic shipping cost and
shipping times that have made it difficult to adequately service
our critical and rapidly expanding markets in England, Ireland,
Italy, Turkey, the UAE and throughout Europe, Asia, and the Middle
East,� states Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc.
�For instance, the easy access to the port of New Jersey and the
direct sea routes from there to Rotterdam combined with fast and
efficient rail service lowers the current shipping time to Turkey
or Italy from two or three months to less than two weeks and
reduces shipping costs by a significant amount. This is more than
sufficient to meet the needs of our customers in the region without
the added expense and logistical difficulties of setting up and
managing a manufacturing facility in a foreign country. The
increased speed of delivery of product will eliminate frustration
and increase sales to international customers who don�t want to
wait months for the product, and there are many. At this time, we
firmly believe this is the most cost and time efficient solution.�
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 flame resistance in an environmentally safe, water-based,
coating formulation. The Nansulate(R) 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.
Industrial Nanotech (PK) (USOTC:INTK)
Historical Stock Chart
From Jul 2024 to Jul 2024
Industrial Nanotech (PK) (USOTC:INTK)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Industrial Nanotech Inc (PK) (OTCMarkets): 0 recent articles
More Industrial Nanotech, Inc. News Articles