Integral Continues to Expand Presence in Asia
CANTON, Mich., May 22, 2014 /PRNewswire/ -- Integral Technologies, Inc. (OTC-BB: ITKG) ("Integral"), an emerging leader in hybrid conductive plastics, announced today that the management team of its wholly owned subsidiary, ElectriPlast Corp. ("ElectriPlast") recently concluded a 10 day trip to Asia after meeting with its manufacturing partner in Korea, and visiting global automotive Tier 1's and technology companies in China and Japan. The trip was in response to the growing interest brought about from the recent opening of Hanwha L&C's (Hanwha) ElectriPlast manufacturing line. After witnessing the operations of Hanwha's initial ElectriPlast line in Bugang, Korea, Slobodan (Bob) Pavlovic, ElectriPlast's Vice President of Engineering stated, "The proficiency and technical expertise of Hanwha confirms that we picked the right manufacturing partner for launching our business in Asia." While in Korea the team also assisted an injection molding company in further improving its innovative electric motor prototype.
An important part of the trip was a visit to Japan where the team was invited to introduce its technology to an automotive power supply company that provides its products to some of the world's largest Hybrid Electric Vehicle (HEV) and Electric Vehicles (EV) companies. "This is an important first step into Japan for us," stated Mo Zeidan, ElectriPlast's Chief Technology Officer. "Japan is a global technical leader and we believe our technology will help enable automotive companies and Tier 1's in Japan to meet their light weighting goals." Included in the trip was a visit to China where the team went to Shanghai and met with global innovation engineers to further the commercialization process with current projects being developed in the US.
"In developing opportunities for ElectriPlast in Asia, we recognize that the momentum right now for us is within the automotive sector, but we won't be a 'one industry' company and are also focusing in other areas, including the consumer electronics sector," said Doug Bathauer, Integral's CEO. "Further, we understand that to support our customers and accelerate our business development efforts, we need to be active in the region and therefore, recently opened our office in Seoul, Korea. The office will focus on developing strategic opportunities with industry and financial partners in Asia."
Integral also reported that it received the second installment payment from Hanwha for the initial license fee under the terms of the Licensing and Distribution Agreement signed in June 2013. "We are pleased that the Integral and Hanwha relationship is developing so positively, and that Hanwha has been able to establish their ElectriPlast manufacturing line in Korea so effectively," added Bathauer. "Given the importance of Asia from a customer base and a manufacturing hub, we are committed to continuing our efforts in Asia with a focus on multiple industries."
About Integral Technologies, Inc.
(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, EMI, Power Electronics, Connectors, and Cables; Shielding, Conduction, Batteries, Semiconductors, Heated Elements, Sensors, Antennas, Consumer Electronics and Acoustics, Fuses, Capacitors, Resistors, and Terminals .
Safe Harbor Statement
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SOURCE Integral Technologies, Inc.