Exousia Advanced Materials, Inc. To Deliver and Oversee Application of PowerShield Coatings to Nanjing Iron & Steel Company
Three-Mile Pipe Project Part Of NISCO's Infrastructure Building Initiative
SUGAR LAND, Texas, June 4 -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU), a company that manufactures advanced industrial coatings for worldwide infrastructure applications and engineered composites for eco-friendly wood substitutes, has entered into an agreement to deliver and oversee the application of PowerShield(TM) coatings to Nanjing Iron & Steel Company (NISCO).
The agreement between Exousia and NISCO is part of NISCO's $1.2 billion ($175 million USD) infrastructure renovation initiative in China, which is currently underway. Exousia will sell and oversee the application of its proprietary PowerShield industrial coating, for approximately three miles of pipe in NISCO's facility. Coating for the first section of pipe will begin in the third quarter with oversight provided by Exousia's technical support services personnel based at the company's Tianjin facility. Exousia has been working with NISCO's senior management for the past nine months to identify which PowerShield coatings would best service the harsh environment in the steel mill.
'This agreement with NISCO is yet another in a line of orders Exousia has received from China following the recent funding announcement of $3.0 million in a working capital line of credit,' said Wayne Rodrigue, CEO of Exousia. 'When we developed the PowerShield line of industrial coatings, our intention was to offer products to companies like NISCO that need to protect their operations against harsh conditions. There are about five hundred steel production facilities of varying sizes throughout China to which we can offer our proprietary PowerShield line of products. Our delivery to NISCO exemplifies our active business development taking place throughout China. We remain committed to our strategy in China and plan to continue to communicate our progress as we move forward.'
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About NISCO
NISCO engages in the production and sale of steel products. It sells its products in Nanjing, Shanghi, Hangzhou, Beijing, and Guangdong province in China. The company is located directly on the Yangtze River and covers 3,750 acres with an annual production of 6.5 million tons of steel.
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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SOURCE Exousia Advanced Materials, Inc.
Source: PR Newswire (June 4, 2009 - 9:01 AM EDT)
