Industrial Nanotech, Inc. Continues Global Expansion in Oil & Gas Market - Signs Anticorrosion Protective Systems (M) Sdn Bhd as New Exclusive Distributor in Malaysia - Begins Project with Petronas
Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology based energy saving solutions, today announced that the Company has entered into an agreement with Anticorrosion Protective Systems (M) Sdn Bhd (APS) to serve as exclusive distributor in Malaysia for the Company’s patented Nansulate(R) product line of thermal insulation and protective coatings. APS has over three decades of experience in managing and controlling corrosion in some of the harshest and most critical production and processing environments in the world, and provide their products and services to all related industries and especially utilities, water, and oil & gas sectors. One of their first undertakings is a trial project with Fortune Global 500(R) company, Petronas, the national oil and gas company of Malaysia.
“The relationship with APS as our exclusive distributor in Malaysia will strengthen Nansulate’s presence in many manufacturing sectors, and particularly oil & gas,” stated Francesca Crolley, V.P. Business Development for Industrial Nanotech, Inc. “Their company has been working with Petronas and has secured an offshore trial for our Nansulate(R) Translucent PT coating for use to control corrosion under insulation (CUI) by providing the combined benefits of thermal insulation and corrosion prevention. This is the same product that has been used by Galp Energia for two large ongoing projects at their refinery in Portugal over an oil pipeline and fuel oil storage tanks, total sales by Industrial Nanotech, Inc. for the Galp Energia project in the past 12 months equaling $471,279.49. Nansulate(R) coatings have been continuing to gain ground in this important industry sector and we continue to develop new relationships with companies such as EcoPetrol in Columbia and secure the opportunity to put our products into use protecting this vital infrastructure."
Crolley continues, “APS has the type of technical experience and expertise on their management team that will ensure an excellent introduction and promotion of our patented insulation and protective nanotechnology based coatings in Malaysia. They are also certified and licensed with the local government authorities including National Water Service Commission (SPAN), Ministry of Finance (MOF) and Construction Industry Development Berhad (CIDB) and Energy Commission of Malaysia (EC).”
Malaysia has progressed from being a producer of raw materials, such as tin and rubber, in the 1970s to being a multi-sector economy that grew on average 7.3 percent between 1985 and 1995. After the Asian financial crisis of 1997-1998 it has continued to post solid growth rates, averaging 5.5 percent per year from 2000 – 2008. In 2010, Malaysia launched the New Economic Model (NEM) which aims for the country to reach high income status by 2020 while ensuring that growth is also sustainable and inclusive.
Industrial Nanotech, Inc.
Francesca Crolley, US & Canada: 800-767-3998
International: +1 239-254-0346
All Rights Reserved.