Exousia Advanced Materials, Inc. Provides First Quarter 2009 Corporate Update
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Focus On Sales And Driving Growth: Bohai Shipbuilding and China United
Engineering Corporation Shipments Underway, UFPI Deploying Nationwide Tuffcore
Sales Force
SUGAR LAND, Texas, May 18 /PRNewswire-FirstCall/ -- Exousia Advanced
Materials, Inc. (OTC Bulletin Board: EXOU), a company that manufactures
advanced industrial coatings for worldwide infrastructure applications and
engineered composites for eco-friendly wood substitutes, provides update on
recent developments, contracts, and corporate activity for first quarter 2009
ending March 31, 2009, and first half of second quarter 2009.
During 2008, Exousia successfully established production facilities both in
the U.S. and at a favorable location in Tianjin, China, and filed the Chinese
legal requirements for forming a Wholly Owned Foreign Enterprise (WOFE).
Throughout the year, the company formed relationships with distributors and
alliances with leading Chinese companies and marketing representatives to
distribute its industrial coatings, secured major distributorship agreements
including an agreement with Northern International Group and put several other
Letters of Intent in place. In the U.S., Exousia focused on commercializing
RPA through its Tuffcore product. The successful development and testing of
the product during 2008 led to the company's national distributorship
agreement with Universal Forest Products (Nasdaq: UFPI)
The first quarter milestones Exousia achieved, including the distribution
agreement with Universal Forest Products, as well as contracts secured in
China during first part of the second quarter, provides foundation for
exponential growth the company has worked for since 2007. With the approvals
now in place in China, combined with the production facilities in the U.S.,
Exousia expects to deliver on up to $20 million USD or more worth of
production for the remainder of the year as it ramps up production each
quarter.
First Quarter 2009 and Continued Growth
-- Recently announced financing to facilitate full production in both the
US and China facilities
-- Under China operations, Exousia recently began shipments to both Bohai
Shipbuilding and China United Engineering Corporation
-- In the U.S., Exousia signed its exclusive national distributorship
agreement with Universal Forest Products (Nasdaq: UFPI)
-- UFPI has deployed 125 industrial sales people across the U.S. to sell
Tuffcore
-- The company brought on Tom Moccia, a materials technology executive
with
twenty-five years of experience, to serve as the company's Vice
President of Global Sales and Marketing
-- Appointed Paul Crozier, a veteran of the industrial coatings industry,
Managing Director of China Operations to further drive the growth
strategy in China
"The end of 2007 marked our transition from a company testing in the lab to a
company commercializing product and expanding sales through distribution
agreements both in the U.S. and China throughout 2008," said Wayne Rodrigue,
Chairman and CEO. "Although the fourth quarter of 2008 and the first quarter
of 2009 were extraordinarily difficult times in the capital markets, we were
able to secure the capital needed to meet the production ramp up schedule for
our distribution agreements. Also during the first quarter of 2009, we
received our final licenses in China, allowing us to begin booking revenues in
the second quarter. In the U.S., much of our effort was focused on putting in
the new equipment necessary to expand plant production, which affected
revenues in the short term, but provide for increased revenues going forward.
We have reached an extremely exciting and pivotal time for the company; the
contracts we have put in place and announced represent just our initial
success in establishing partners and alliances. We look forward to continuing
to communicate our future developments to our shareholders and the investment
community as we carry out further growth initiatives during 2009."
For more news and information on Exousia Advanced Materials, Inc., please
visit http://irgnews.com/coi/EXOU where you can find a fact sheet on the
company, investor presentations, and more.
About Exousia Advanced Materials, Inc.
Exousia manufactures advanced resins, engineered particles, high-performance
coatings and structural products. Exousia products enhance strength,
durability, cost effectiveness and performance for a wide range of
manufacturing, commercial and construction applications. The Company serves
both domestic and international markets. Additional information on Exousia can
be found at http://www.exousiacorp.com.
FORWARD-LOOKING STATEMENTS
Statements released by Exousia Advanced Materials, Inc. that are not purely
historical are forward-looking within the meaning of the "Safe Harbor"
provisions of the Private Securities Litigation Reform Act of 1995, including
statements regarding the company's expectations, hopes, intentions, and
strategies for the future. Investors are cautioned that forward-looking
statements involve risk and uncertainties that may affect the company's
business prospects and performance. The company's actual results could differ
materially from those in such forward-looking statements. Risk factors include
but are not limited to general economic, competitive, governmental and
technological factors as discussed in the company's filings with the SEC on
Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to
update the forward-looking statements contained in this release.
The Investor Relations Group
212-825-3210
Investor Relations:
Rachel Colgate
Or
Michael Crawford
Or
Media Relations:
Mike Graff
SOURCE Exousia Advanced Materials, Inc.
Media: Mike Graff, or Investor Relations: Rachel Colgate, or Michael Crawford,
all of The Investor Relations Group, +1-212-825-3210, for Exousia Advanced
Materials, Inc.
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