Aging Buildings in Eastern Europe Tap Solutions from Industrial Nanotech.NAPLES, Fla. -- Industrial Nanotech, Inc., (Pink Sheets:INTK), an emerging global leader in nanotechnology, announced today that its distributor, MARMO d.o.o., has been awarded a contract to supply Nansulate[R], Industrial Nanotech's proprietary protective coating, for the renovation of a military complex in Slovenia. The contract is expected to generate substantial revenue for the company, although the exact value of this contract is still being determined. MARMO will apply Nansulate[R] to the exterior of the military building, which is about 20km (approximately 12 miles) outside the capital of Ljubljana, to provide thermal insulation The term thermal insulation can refer to materials used to reduce the rate of heat transfer, or the methods and processes used to reduce heat transfer. Heat is transferred from one material to another by conduction, convection and/or radiation. and resistance to moisture and mold. The extensive renovation is expected to begin early spring 2007. Igor Frelih, chief architect for the military renovation project, chose the Nansulate[R] coating following a demonstration of the product in Slovenia. "Nansulate's unique translucent appearance makes it a good solution for restoration projects, since it can be applied to building exteriors or interiors without changing the look, while allowing an invisible layer of thermal, moisture and mold protection to be applied to the building," said Francesca Crolley, Vice President of Operations and Marketing for Industrial Nanotech. This renovation project could mark the first of a series of similar projects throughout Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. . "Our activities at the moment focus on introducing the Nansulate products to architects, such as Mr. Frelih," explained Olivijo Ostakovic, Manager of MARMO. "We have seen increased interest from them in using Nansulate as a protective coating for buildings. As a result, we are starting the process to obtain the CE mark for Nansulate, which could offer additional marketing opportunities throughout Eastern Europe, as we have already received inquiries about the product from Romania, Croatia and Serbia." With a GDP GDP (guanosine diphosphate): see guanine. per capita [Latin, By the heads or polls.] A term used in the Descent and Distribution of the estate of one who dies without a will. It means to share and share alike according to the number of individuals. substantially greater than the other transitioning economies of Central Europe Central Europe is the region lying between the variously and vaguely defined areas of Eastern and Western Europe. In addition, Northern, Southern and Southeastern Europe may variously delimit or overlap into Central Europe. , Slovenia is a model of economic success and stability for its neighbors in the former Yugoslavia. Slovenia acceded to both NATO NATO: see North Atlantic Treaty Organization. NATO in full North Atlantic Treaty Organization International military alliance created to defend western Europe against a possible Soviet invasion. and the EU in the spring of 2004, and controls some of Europe's major transit routes. "There are a number of aging buildings in Eastern Europe for which insulation and moisture protection is sought, but with a need to keep the beauty of these historical structures intact," added Crolley. About Industrial Nanotech Inc. Industrial Nanotech Inc. is quickly emerging as a global nanoscience solutions and research leader. The Company develops and commercializes new and innovative applications for nanotechnology. Additional information about the Company and its products can be found at their websites, http://www.industrial-nanotech.com and http://www.nansulate.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Safe Harbor Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. |
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