Integral Technologies Reports Further Progress in Strategic Alliance with Hanwha L&C
New Manufacturing Line for Integral's Conductive Plastic ElectriPlast® slated for early 2014
BELLINGHAM, Wash., Nov. 4, 2013 /PRNewswire/ -- Integral Technologies, Inc. (OTC-BB: ITKG) ("Integral"), an emerging leader in hybrid conductive plastics, and its wholly owned subsidiary ElectriPlast Corp announced today that after extensive training sessions at the ElectriPlast production facility at Jasper Rubber Products Inc. ("Jasper") with its Korean manufacturing partner, global high-tech materials maker Hanwha L&C ("Hanwha"), Integral has successfully transferred to Hanwha, the science and its proprietary processes and documentation necessary for the manufacture of ElectriPlast.
The documentation, curriculum and training were supported by The Mississippi Polymer Institute (MPI), the industrial outreach arm of The University of Southern Mississippi, and a leading technical advisory group for the high-tech polymer industry. In addition to the training at Jasper, ElectriPlast and Hanwha engineering teams also met at Hanwha's future ElectriPlast production plant in South Korea to discuss further optimization plans to ensure that Hanwha's ElectriPlast line will be the world's most advanced conductive plastics line when it becomes operational in early 2014.
Per a 10-year agreement signed in June 2013, Hanwha has exclusive rights to sell, distribute and manufacture ElectriPlast in South Korea, plus non-exclusive sales and distribution rights to ElectriPlast in Japan, Taiwan and China. "We are pleased with the substantial progress that has been made to complete the initial phases of the agreement, including Hanwha's preparation of a dedicated line for the manufacture of ElectriPlast that both companies anticipate will be in place in early 2014," said Doug Bathauer, CEO of Integral.
Founded in 1965, Hanwha develops and supplies global automakers with a variety of composite lightweight automotive materials. In 2012, Hanwha entered the touch screen panel market, and it is now supplying key components such as ITO (Indium Tin Oxide) glass and ITO ﬁlm for smart mobile devices. "South Korea has one of the world's largest auto industries in terms of both unit production and export volume, and it is also home to some of the top name brands in the consumer electronics industry," added Bathauer. "Having a manufacturer of the size and prestige of Hanwha is extremely important to us as we strive to establish our unique technology as an electrically conductive alternative material to metal in these very competitive, fast growing markets."
"In our recent meetings with Hanwha representatives and potential customers in South Korea we were impressed with the strong interest they showed in some key shielding applications utilizing ElectriPlast," continued Bathauer. "The speed at which these premier global suppliers of consumer electronics and automotive parts move is such that we are progressing much more rapidly than originally anticipated. With the addition of Hanwha's ElectriPlast line, we now have the capacity to establish a manufacturing footprint within these rapidly growing markets to provide, as an alternative to metal, our patented electrically conductive material."
About Integral Technologies, Inc. (OTCBB: ITKG) ("Integral"), and wholly owned subsidiary ElectriPlast Corp, engage 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, Bus bars and Terminals. Follow us on Facebook and Twitter.
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SOURCE Integral Technologies, Inc.