Jun 17 2014
Hybrid Coating Technologies Inc. is pleased to announce that it has entered into a distribution agreement with a California based coatings distribution group that sells upwards of $100M a year in raw materials for coatings through its network.
Under the terms of the agreement, Hybrid will be selling its hardener, the key component of its proprietary, two part, non isocyanate coatings formulation through the distribution network, as well the group will also sell Hybrid's finished coatings products through various retail store chains in its network. "This is an important step forward in our commercialization strategy as we target different parts of the coatings market from large Fortune 500 manufacturers to medium sized distributors in order to maximize the market penetration of our products," said Joseph Kristul, President and CEO.
Hybrid's patented technology is the only formulation in the world today that produces epoxyurethane foams and coatings without using any isocyanates throughout the entire production process and without compromising product quality and durability.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Hybrid Coating Technologies Inc. to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. Hybrid Coating Technologies Inc undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Hybrid Coating Technologies Inc. expectations.