News Just Released Thurs AM. Another EXOU OPPORTUNITY.
SUGAR LAND, Texas, June 4 /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, 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."
