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Industrial Nanotech, Inc. Continues African Oil and
Gas Market Expansion, Announces New Distributor in Nigeria
Other topics:
Nano
Food and Packaging
BUSINESS WIRE
July 29, 2008
NAPLES, Fla. - Industrial Nanotech, Inc. (Pink Sheets:INTK),
an emerging global leader in nanotechnology, continued its
international expansion with the announcement today that the
exclusive distributor in Africa for the Company’s patented
Nansulate® energy saving coatings, Megaros Industrial
Products Inc., has signed an agreement with Henriboss Global
Marketing Nigeria Inc. to represent the Company’s product
line in Nigeria.
“There is an abundant market for Industrial Nanotech's
Nansulate energy saving coating products in Nigeria,” stated
Uche Mbachu, president of Henriboss Global Marketing. “With
our extensive experience in marketing and promoting
international products in Nigeria and West Africa, Henriboss
will make Nansulate products a household name in this
region.” |
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The Oil and Gas Journal estimated that
Nigeria contains proven oil reserves totaling 35.2 billion
barrels. The Nigerian government plans to expand its proven
reserves to 40 billion barrels by 2010. In 2007, Nigeria and
Angola combined exported more oil to the US than Saudi
Arabia. In addition, a proven reserve of 260 trillion cubic
feet of natural gas has enhanced Nigeria’s strategic
significance further. The country already supplies 10
percent of the world’s liquefied natural gas.
“We had received several inquiries and interest in
distributorship for the country of Nigeria,” explained James
Umekwe, President Megaros Industrial Products, Inc. “After a
thorough and extensive review of all candidates, we chose
Henriboss Global, located in Abuja, Nigeria with offices in
Owerri, Imo State and Brussels, Belgium.”
“Market penetration for the Nansulate product line is much
faster in international markets when represented by local,
knowledgeable companies such as Henriboss,” continued
Francesca Crolley, V.P. of Operations & Marketing for
Industrial Nanotech, Inc. “Nigeria is an important player in
the energy industry, which makes the region very interesting
to us. Our well established strategy of creating a global
sales and distribution platform now has the Company’s
products represented in over 30 countries around the world
and has provided protection for the Company’s revenue stream
growth rate from regional economic downturns.”
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, and lead
encapsulation in an environmentally safe, water-based,
coating formulation. The Nansulate(R) Product Line includes
both industrial and residential coatings.
Nansulate(R) EPX
is the Company's newest addition to their line of
nanotechnology-based coatings which has a four year track
record of providing energy and cost saving solutions for
industry and homeowners worldwide. Nansulate(R) EPX combines
superior thermal insulating ability with excellent corrosion
resistance, chemical resistance, and flame resistance in the
EPX-4 version, making it a unique and powerful protective
coating for a wide variety of industrial and commercial
plant, equipment, and building applications. The EPX product
line presents a great value added proposition for industrial
and OEM clients with a fast cure time, revolutionary thermal
insulation performance, outstanding chemical resistance to
both base and acid chemicals... including 95% concentration
sulfuric acid, and long-term protection against metal
corrosion in marine and deep sea environments. The coating
can be applied from 1/8" thick to several inches thick.
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). |
