Exousia Advanced Materials, Inc. has passed its Importation Tests with the National Commodity Testing Bureau of China, which will allow the company to ship high-performance industrial coatings from its AEGEON Plant in Texas into the People's Republic of China. The key significance of receiving import approval is that it allows Exousia to begin fulfilling product orders and commitments to its Northern China Territory Distributor, Northern International Group (NIG), as well as other customers and distributors.
With the import license in place Exousia can now move forward on an initial NIG order for 1,000 gal of Exousia's Power Shield 4450V nonskid industrial coating. NIG's distribution agreement includes a commitment to purchase 205,000 gallons of Exousia's industrial coatings during the current year. Exousia estimates that these coatings will be priced in the range of $30 to $50/gal.
China represents the first phase in Exousia's strategy of establishing distributorships in rapidly emerging countries that are major markets for industrial coatings. According to an independent market survey by GCiS China Services, "anti-corrosion coatings in China are a large market with significant growth providing ample opportunities for foreign coatings suppliers." The industrial coatings market in China was estimated at about 160 million gallons for 2007, with key industrial coating segments growing up to 20% annually.
More information on Exousia can be found atwww.exousiacorp.com.
Exousia Granted Import Approval from China - Posted 5/20/08
May 20, 2008