Industrial Nanotech, Inc. Continues Global Expansion in Oil & Gas Market - Signs Anticorrosion Protective Systems (M) Sdn Bhd...
14 August 2012 - 3:46PM
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
Anticorrosion Protective Systems (M) Sdn Bhd (APS) to serve as
exclusive distributor in Malaysia for the Company’s patented
Nansulate(R) product line of thermal insulation and protective
coatings. APS has over three decades of experience in managing and
controlling corrosion in some of the harshest and most critical
production and processing environments in the world, and provide
their products and services to all related industries and
especially utilities, water, and oil & gas sectors. One of
their first undertakings is a trial project with Fortune Global
500(R) company, Petronas, the national oil and gas company of
Malaysia.
“The relationship with APS as our exclusive distributor in
Malaysia will strengthen Nansulate’s presence in many manufacturing
sectors, and particularly oil & gas,” stated Francesca Crolley,
V.P. Business Development for Industrial Nanotech, Inc. “Their
company has been working with Petronas and has secured an offshore
trial for our Nansulate(R) Translucent PT coating for use to
control corrosion under insulation (CUI) by providing the combined
benefits of thermal insulation and corrosion prevention. This is
the same product that has been used by Galp Energia for two large
ongoing projects at their refinery in Portugal over an oil pipeline
and fuel oil storage tanks, total sales by Industrial Nanotech,
Inc. for the Galp Energia project in the past 12 months equaling
$471,279.49. Nansulate(R) coatings have been continuing to gain
ground in this important industry sector and we continue to develop
new relationships with companies such as EcoPetrol in Columbia and
secure the opportunity to put our products into use protecting this
vital infrastructure."
Crolley continues, “APS has the type of technical experience and
expertise on their management team that will ensure an excellent
introduction and promotion of our patented insulation and
protective nanotechnology based coatings in Malaysia. They are also
certified and licensed with the local government authorities
including National Water Service Commission (SPAN), Ministry of
Finance (MOF) and Construction Industry Development Berhad (CIDB)
and Energy Commission of Malaysia (EC).”
Malaysia has progressed from being a producer of raw materials,
such as tin and rubber, in the 1970s to being a multi-sector
economy that grew on average 7.3 percent between 1985 and 1995.
After the Asian financial crisis of 1997-1998 it has continued to
post solid growth rates, averaging 5.5 percent per year from 2000 –
2008. In 2010, Malaysia launched the New Economic Model (NEM) which
aims for the country to reach high income status by 2020 while
ensuring that growth is also sustainable and inclusive.
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, 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.inanotk.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. Green Building Council. 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.
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