Industrial Nanotech, Inc. Begins Business in China
02 December 2011 - 12:00AM
Business Wire
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global
leader in nanotechnology based energy saving solutions, today
announced that the Company has entered into an agreement with
Beijing Woven Energy Efficiency Technologies Ltd. to serve as
exclusive distributor in China for key strategic vertical markets.
Woven will focus on the petrochemicals/oil & gas, food and
beverage manufacturing, and construction markets for Industrial
Nanotech, Inc.’s patented Nansulate® product line of thermal
insulation and protective coatings. Beijing Woven Energy Efficiency
Technologies Ltd. specializes in marketing and selling building and
industrial insulation products and providing project installation
services throughout the China market. Since its inception in 2007,
Beijing Woven Energy Efficiency Technologies Ltd. has enjoyed rapid
growth within China's booming construction industry.
“China's focus on sustainable development and minimizing
energy costs across industries means that products,
technologies and operational processes such as Woven's will be in
great demand for years to come,” stated Vida Zhang Fargis, Director
of International Division, Beijing Woven Energy Efficiency
Technologies. “The new initiative from the Chinese government for
retrofitting non-insulated, pre-1980's buildings and the mandate
from the Ministry of Public Security for A-level fire
resistant building insulation materials will be an excellent
opportunity for Nansulate solutions during the next decade. We have
a highly dedicated team with an insulation focused portfolio that
has now expanded into new industrial areas beyond our core
expertise in the building industry. With the strong support
from Industrial Nanotech Inc., Woven will drive
distribution through our nationwide network across the
targeted vertical industries."
Francesca Crolley, V.P. Business Development for Industrial
Nanotech, Inc., explains, “Beijing Woven is an impressive company
with experience and success introducing international products to
the market in China and rapidly expanding their market share. This
is exactly the type of distributor we have been looking for to
promote our unique energy saving and protective solutions to this
important market. They have an existing, well established and
proven network of experienced distributors throughout China and
have already begun introducing Nansulate to this network, which
will significantly increase the rate of adoption in China to these
key industrial and commercial sectors. The international market for
Nansulate has been a strong one since the beginning and now that we
have secured a prominent business organization in China as our
distributor, we expect international sales to increase dramatically
in the coming year."
China’s economy has been one that, according to an Associated
Press story, major international companies have shifted focus to as
they experience growth there while other markets have contracted.
China's 12th five-year plan (2012-2017) has a targeted annual GDP
growth rate of 7% and the development of renewable energy, with an
investment of $640 billion, to constitute 15% of China's energy
needs by the year 2020, building housing for 36 million families
and the promotion of social equity and rural development.
About Beijing Woven Energy Efficiency Technologies Ltd.
Woven specializes in building and industrial insulation
materials and installation service with a robust distribution
network across China. Woven's certified engineers and project
managers and exceptional product portfolio of domestic and
international technology, have made Woven a reputable company in
the industry. Woven has recently been selected as one of the
qualified insulation service providers for the China Mobile
Communications Corporation (CMCC), the world's largest mobile
service provider.
About Nansulate®
Nansulate® is the Company's patented product line of award
winning, specialty coatings containing a nanotechnology based
material and which 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.
Nansulate® products are made in the USA. 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,
Facebook: www.facebook.com/Nansulate.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a global nanoscience solutions and
research leader and member of the U.S. Greenbuilding Council and an
official ALLY organization with the U.S. Dept. of Energy "Save
Energy Now" program. The Company develops and commercializes new
and innovative applications for sustainable 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.
SOURCE:
Industrial Nanotech (PK) (USOTC:INTK)
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