SUGAR LAND, Texas, Sept. 22 /PRNewswire-FirstCall/ -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU - News), a manufacturer of advanced industrial coatings for worldwide infrastructure applications and engineered composites for eco-friendly wood substitutes, is pleased to update the market concerning our expanding China opportunities
CEO J. Wayne Rodrigue stated, "I want to take this opportunity to give a progress report regarding our activities in China. After meeting with Paul Crozier, our China Managing Director, Bob Roddie, our CFO/COO and David Chen, our Sales Manager for Asia, I am more confident and excited than ever about our business plan implementation. The following provides an overview of the Chinese customers and distributors, and in some cases their subsidiaries or associated businesses, that Exousia has not only developed alliances with, but in some cases already executed purchase orders. What we initially considered to be about a $100,000,000 market has been expanded to over $260,000,000 in annual revenue opportunity. We continue to build alliances and move our business plan forward accordingly."
About our China Customer Base
Northern International Group ~ As previously announced, this contract is in place. It is a ten year distribution agreement for an annual minimum of 200,000 gallons that will average $8 to 10 Million USD per year. We are completing the training of 45 of their sales people who will hit the streets and begin execution of our agreement.
China Shipbuilding Industry Corporation (CSIC) ~ This family of shipyards and petro-chemical fabrication facilities uses in excess of 7 million gallons of coatings per year. Our work with Dailan and Bohai, and Wuhan Shipbuilding and Bridge building puts us in position to supply approximately 25% of this volume. Additionally, China Industrial Offshore, as part of the CSIC family, is a primary target for our coatings to become a solution for their offshore projects. The potential market from the CSIC family of business for industrial coatings is in excess of $200,000,000 annually. We are currently completing agreements with two Chinese representatives who will assist us in representing this huge account.
Wuhan Steel, Nanjing Steel and BAO Steel ~ These three steel mills produce over 40 million metric tons of steel per year for various applications. BAO Steel manufactures the largest volume of pipe, for transportation of oil and gas, as well as "down-hole" pipe in China. The volume of pipe in need of coating is approximately 90,000 feet per month. The value of this opportunity represents industrial coatings sales of approximately $10,000,000 annually.
Pinggao Electric and Southern China Power Grid ~ These two grids reach 100 % of the Chinese Power Industry, using approximately $50,000,000 of industrial coatings annually.
Mr. Rodrigue continued, "It should be noted that Exousia has already received purchase orders from Dailan Shipbuilding, Bohai Shipbuilding and Pinggao Electric. We expect purchase orders to increase dramatically very quickly."
Mr. Rodrigue concluded, "Since it has taken more time to get Exousia to this position than originally anticipated, I felt it important to share this review with our employees and shareholders. While the world wide economic conditions remain difficult, I have never been as excited about the opportunities that Exousia has recently developed for our company and its shareholders. It represents a huge reward for our employees for their efforts in the implementation of our business plan. I'd like to take a moment to thank all of those investors who have supported us, and as they said at the recent Chinese Olympics, 'Let the games begin'."
