SUGAR LAND, Texas, May 14 -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU) announces that the company has passed its Importation Tests with the National Commodity Testing Bureau of China. Exousia has received the necessary approval and import permits to ship high-performance industrial coatings from its AEGEON Plant in Texas into the People's Republic of China. The key significance of receiving import approval is that it allows Exousia to begin fulfilling product orders and commitments to its Northern China Territory Distributor -- Northern International Group (NIG), as well as other customers and distributors.
With the import license in place Exousia can now move forward on an initial NIG order for 1,000 gallons of Exousia's Power Shield 4450V Non-Skid Industrial Coating. NIG's distribution agreement includes a commitment to purchase 205,000 gallons of Exousia's industrial coatings during the current year. Exousia estimates that these coatings will be priced in the range of $30-$50/gallon.
"Obtaining this import permit is a critical milestone in developing our presence in China," commented Mr. David Chen, Vice President of Asia Sales and Marketing. "Prior to establishing our Chinese manufacturing operations, Exousia will need to import product into the country. These permits make that possible. We are excited to be able to start actively shipping product into China."
China represents the first phase in Exousia's strategy of establishing distributorships in rapidly emerging countries that are major markets for industrial coatings. According to an independent market survey by GCiS China Services, "anti-corrosion coatings in China are a large market with significant growth providing ample opportunities for foreign coatings suppliers." The industrial coatings market in China was estimated at about 160 million gallons for 2007, with key industrial coating segments growing up to 20% annually.
About Exousia
Exousia manufactures advanced resins, engineered particles, high-performance coatings and industrial products. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial and construction applications. The Company serves both domestic and international markets. Additional information on Exousia can be found at www.exousiacorp.com
Forward Looking Statements
Statements released by Exousia Advanced Materials, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
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