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.