Joined: 16 Mar 2004
|Posted: Mon Oct 23, 2006 11:58 am Post subject: Industrial Nanotech expands to China
|Industrial Nanotech expands to China with new distributor
Industrial Nanotech, a company that specializes in nanotechnology innovation and product development, announced that the Company has accepted an offer by Hangzhou Northstar Power Engineering Co, Ltd. (NPEC) to represent and distribute the Company's Nansulate line of coatings in China. Hangzhou NPEC is a privately owned Chinese company based near Shanghai that provides industrial supplies for the oil and gas industry, power plants, and civil infrastructure projects.
The company is a leading manufacturer and trader in China with a long history of servicing industrial sectors whose potential market size for Industrial Nanotech's Nansulate line of insulative and anti-corrosive coatings is substantial. Key executives from Hangzhou NPEC are scheduled to travel from China to Industrial Nanotech's corporate headquarters during the first week of September for training on its product lines' applications.
China is the second largest energy consumer in the world, behind the United States, with building energy consumption (heating, cooling, ventilation, and lighting) accounting for 28% of the country's total energy consumption due to the fact that most buildings in China were built without insulation. As a member of the Kyoto Protocol, China has committed to taking active measures to cut energy usage in residential and commercial buildings. It is estimated that 99% of the 40 billion square meters of building surface area in China are considered high energy usage buildings, needing insulation retrofit to satisfy the country's energy conservation objectives.
"Hangzhou Northstar has presented us with one of the most detailed and comprehensive business plans for our coatings to capture market share that we have received to date. China is obviously a very important and large market that has been a target of our international expansion efforts for some time now, particularly considering our commercial success abroad thus far," stated Francesca Crolley, VP of Operations and Marketing. "We feel confident that we have found a partner in that region who is willing and able to commit the financial and human resources necessary to successfully market and distribute Nansulate on a grand scale."
This story was first posted on 29th August 2006.