Integral Technologies Progresses In Strategic Alliance With Hanwha L&C
Announces Major Milestones In Licensing And Distribution Agreement
BELLINGHAM, Wash., Aug. 19, 2013 /PRNewswire/ -- Integral Technologies, Inc. (OTC-BB: ITKG), an emerging leader in hybrid conductive plastics, announced today they will host global high-tech materials maker Hanwha L&C at Jasper Rubber Products, Inc., the US manufacturer of Integral's proprietary ElectriPlast® product line. The Hanwha visit, which will take place later this month, will allow for the exchange of Integral's proprietary processes involved in the science and manufacture of ElectriPlast, marking a milestone toward the further execution of a major licensing and distribution agreement announced between the parties earlier this year.
Integral also reported that it has received the first installment payment from Hanwha for the initial license fee under the terms of the Agreement. "We thank Hanwha L&C for their swift efforts to bring ElectriPlast to the Asian markets and look forward to further building on the partnership," said Doug Bathauer, CEO of Integral Technologies. "They are a top global supplier in both automotive and consumer goods materials. In ElectriPlast we have a versatile material that offers increased functionality and lightweight composition within numerous applications in these industries."
Integral and Hanwha L&C recently signed a 10-year agreement granting Hanwha L&C an exclusive right to sell, distribute and manufacture ElectriPlast in South Korea. Additionally, Hanwha has acquired non-exclusive sales and distribution rights to ElectriPlast in Japan, Taiwan and China.
Hanwha L&C is part of the Hanwha Group of companies that collectively form one of the largest conglomerates in South Korea. Headquartered in Seoul with annual sales exceeding $30 billion USD, Hanwha's businesses include chemicals, munitions, plastics and similar materials for aerospace, automotive and consumer goods industries, as well as solar, pharmaceuticals, financial services, renewable energy, manufacturing and construction. Hanwha Group is on Forbes' list of Top Global Companies.
Integral Technologies, Inc. (OTCBB: ITKG) ("Integral"), and wholly owned subsidiary, ElectriPlast Corp, (http://www.electriplast.com/) engages in the discovery, development, and commercialization of electrically conductive hybrid plastics used primarily as raw materials in the production of industrial, commercial and consumer products and services worldwide. Its core material, ElectriPlast®, is a non-corrosive, electrically conductive resin-based material whose properties allow it to be molded into any of the infinite shapes and sizes associated with plastics, rubbers and other polymers while reducing component weight by 40 to 60%. Integral is a leader in conductive hybrid plastics with a broad Intellectual Property portfolio referencing its ElectriPlast® technology. Applications for ElectriPlast® include: Shielding Wire, Power Electronics, Connectors, and Cables; Shielding , Conduction, Batteries, Semiconductors, Heated Elements, Sensors, Antennas, Medical Devices, Consumer Electronics and Acoustics, Fuses, Capacitors, Resistors, RFID, Busbars and Terminals. Follow us on Facebook and Twitter.
Safe Harbor Statement
This press release contains "forward-looking statements'' within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. These statements include, without limitation, predictions and guidance relating to the company's future financial performance and the research, development and commercialization of its technologies. In some cases, you can identify forward-looking statements by terminology such as, "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations, but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements, as the result of such factors, risks and uncertainties as (1) competition in the markets for the products and services sold by the company, (2) the ability of the company to execute its plans, (3) other factors detailed in the company's public filings with the SEC, including, without limitation, those described in the Company's annual report on Form 10-K for the year ended June 30, 2012 as filed with the Securities and Exchange Commission and available at www.sec.gov, and (4) the parties may be unable to agree upon definitive agreements. You are urged to consider these factors carefully in evaluating the forward-looking statements.
Director of Global Sales ElectriPlast Corp.
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SOURCE Integral Technologies, Inc.