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New U.A.E. Distributor for Industrial Nanotech, Inc.
Opens up Petrochemical Opportunities in the Middle East
Other Topics:
Nanotech Shareholders
BUSINESS WIRE
September 8, 2008
NAPLES, Florida - Industrial Nanotech, Inc. (Pink Sheets:
INTK), an emerging global leader in nanotechnology,
announced today that NanoFan General Trading, a company that
specializes in industrial solutions to petrochemical
facilities and other heavy industry, has purchased the
exclusive distributorship rights for the Company’s product
line in the United Arab Emirates. Prior to acquiring the
distributor rights for Industrial Nanotech’s product line,
NanoFan had already successfully completed several pilot
projects utilizing the Company's patented Nansulate energy
saving industrial protective coatings at petrochemical
facilities in the Middle East. NanoFan General Trading is
based in Ajman, United Arab Emirates. |
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“We are very pleased to be working with this strong, well
established and progressive company,” stated Francesca
Crolley, V.P. Of Operations & Marketing for Industrial
Nanotech, Inc. “Nanofan’s experience in industry and
innovative introduction of new technologies have already
been a benefit for Nansulate in the petrochemical industry.
This is an important target market for us and the Middle
East is rich with opportunity for our products. We are
impressed with the projects that NanoFan has already
completed in this industry and look forward to the
substantial revenue stream anticipated from their upcoming
projects. Nanofan provides us with a strong partner in this
important region to expand our market share not only the
petrochemical market, but other important industrial and oil
and gas target markets as well.”
With more than 40% of all pending global petrochemical
capacity to be built by 2011 scheduled for the Middle East,
the region is becoming the world's petrochemical hub.
Companies such as Saudi Basic Industries Corp, the world’s
largest petrochemical maker by market value, and Dow
Chemical Co. are investing in regional petrochemical
production to take advantage of buoyant global demand,
particularly from Asia, and the comparatively cheap local
price of natural gas, commonly used to make chemicals and
plastics.
About Nanofan
NanoFan General Trading F.Z.E. Is a pioneer of innovative
coatings for industrial applications in the Middle East.
Their team combines a unique group of educated and
innovative people from various sciences and industry and
engineering backgrounds. They provide full industrial
customer support and service, including installation and
project management to adapt the solutions that
nanotechnology provides to industry and society demands.
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.
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). |
