NAPLES, Fla. — (BUSINESS WIRE) — May 15, 2012 — Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology based energy saving and sustainable solutions announced today that the Company is opening a Corporate Sales Office in India with the next 4-6 weeks. Industrial Nanotech, Inc. has seen significantly increased demand in India for their Nansulate® energy saving and protective coatings from OEM manufacturers as well as end manufacturing users to reduce energy costs. The company plans to establish an office first in Southern India, in or near Bangalore, with expansion to Northern India and Western India in the near future.
“India has become an increasingly important country as their manufacturing sectors and economy as a whole continue to have a healthy growth rate,” stated Francesca Crolley, VP of Business Development for Industrial Nanotech, Inc. “We began a strategy this year focused on boosting our marketing and brand presence in India as an energy saving solution and it has returned significant results. These include multiple inquiries from manufacturers that want to use Nansulate® coatings for insulation of their equipment for energy savings and surface temperature reduction, as well as a meeting with a leading OEM manufacturer of process cooling systems with 14 locations throughout India, and an international client base, that is interested in incorporating our technology into the process cooling systems they manufacture and sell. We have seen our marketing, which was focused on commercial and industrial, bring in sales and inquiries from multiple markets and at such a response level that it was obvious to us that setting up an Industrial Nanotech, Inc. office in India, staffed by a sales and technical support team which we hire and train, was the logical next step. The availability of a well educated workforce with an excellent work ethic presents a tremendous opportunity for the Company and will allow us to both accommodate factory visit requests from around the country with our own technical teams, as we do in the US, and the ability to more rapidly service and grow this vital market.”
India's economic growth is expected to remain robust in 2012 and 2013, despite likely headwind of double-dip recessions in Europe and the US, according to a United Nations' annual economic report - World Economic Situation and Prospects 2012. The Indian economy is expected to grow between 7.7 per cent and 7.9 per cent this year, as per the report. India is the second most preferred destination for foreign investors, according to the report 'Doing Business in India' by Ernst & Young. The report explores India's key sectors, investment climate, funding scenario, laws and regulations, to aid companies that are doing, or plan to do business in India.
Nansulate® 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, fire resistance, chemical resistance and lead encapsulation in an environmentally safe, water-based, coating formulation. The Nansulate® 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.
Industrial Nanotech, Inc.
Francesca Crolley, US & Canada: 800-767-3998
Email: Email Contact