Focus On Sales And Driving Growth: Bohai Shipbuilding and China United Engineering Corporation Shipments Underway, UFPI Deploying Nationwide Tuffcore Sales Force
SUGAR LAND, Texas, May 18 /PRNewswire-FirstCall/ -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU - News), a company that manufactures advanced industrial coatings for worldwide infrastructure applications and engineered composites for eco-friendly wood substitutes, provides update on recent developments, contracts, and corporate activity for first quarter 2009 ending March 31, 2009, and first half of second quarter 2009.
During 2008, Exousia successfully established production facilities both in the U.S. and at a favorable location in Tianjin, China, and filed the Chinese legal requirements for forming a Wholly Owned Foreign Enterprise (WOFE). Throughout the year, the company formed relationships with distributors and alliances with leading Chinese companies and marketing representatives to distribute its industrial coatings, secured major distributorship agreements including an agreement with Northern International Group and put several other Letters of Intent in place. In the U.S., Exousia focused on commercializing RPA through its Tuffcore product. The successful development and testing of the product during 2008 led to the company's national distributorship agreement with Universal Forest Products (Nasdaq: UFPI - News)
The first quarter milestones Exousia achieved, including the distribution agreement with Universal Forest Products, as well as contracts secured in China during first part of the second quarter, provides foundation for exponential growth the company has worked for since 2007. With the approvals now in place in China, combined with the production facilities in the U.S., Exousia expects to deliver on up to $20 million USD or more worth of production for the remainder of the year as it ramps up production each quarter.
First Quarter 2009 and Continued Growth
- Recently announced financing to facilitate full production in both the US and China facilities
- Under China operations, Exousia recently began shipments to both Bohai Shipbuilding and China United Engineering Corporation
- In the U.S., Exousia signed its exclusive national distributorship agreement with Universal Forest Products (Nasdaq: UFPI - News)
- UFPI has deployed 125 industrial sales people across the U.S. to sell Tuffcore
- The company brought on Tom Moccia, a materials technology executive with twenty-five years of experience, to serve as the company's Vice President of Global Sales and Marketing
- Appointed Paul Crozier, a veteran of the industrial coatings industry, Managing Director of China Operations to further drive the growth strategy in China
"The end of 2007 marked our transition from a company testing in the lab to a company commercializing product and expanding sales through distribution agreements both in the U.S. and China throughout 2008," said Wayne Rodrigue, Chairman and CEO. "Although the fourth quarter of 2008 and the first quarter of 2009 were extraordinarily difficult times in the capital markets, we were able to secure the capital needed to meet the production ramp up schedule for our distribution agreements. Also during the first quarter of 2009, we received our final licenses in China, allowing us to begin booking revenues in the second quarter. In the U.S., much of our effort was focused on putting in the new equipment necessary to expand plant production, which affected revenues in the short term, but provide for increased revenues going forward. We have reached an extremely exciting and pivotal time for the company; the contracts we have put in place and announced represent just our initial success in establishing partners and alliances. We look forward to continuing to communicate our future developments to our shareholders and the investment community as we carry out further growth initiatives during 2009."
For more news and information on Exousia Advanced Materials, Inc., please visit http://irgnews.com/coi/EXOU where you can find a fact sheet on the company, investor presentations, and more.
About Exousia Advanced Materials, Inc.
Exousia manufactures advanced resins, engineered particles, high-performance coatings and structural 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 http://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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