Integral Technologies Announces Largest ElectriPlast Order In Company's History
EVANSVILLE, Ind., Aug. 20, 2015 /PRNewswire/ -- Integral Technologies, Inc. (OTC-BB: ITKG) ("Integral"), an emerging light-weighting leader and its wholly owned subsidiary ElectriPlast Corp., today announced the largest ElectriPlast order in the company's history. This order was placed by Asian molding partner, Chang Rim Inc. ("Chang Rim"), their first commercial order for ElectriPlast. The ElectriPlast formulation being supplied has been developed in close coordination with Chang Rim and includes a new base resin with nickel plated carbon fiber, using Integral's proprietary manufacturing process.
"This is one of the products, along with the motor casing and enclosure that we have been developing with ElectriPlast's support," stated Mr. Won-Hyun Kwon, President, Chang Rim Inc. "The first product we developed was for the automotive market which we anticipate going into production shortly. This new product is a consumer product that we anticipate production to start at 30,000 units per month, and ramping up to 100,000 units per month." Initial ElectriPlast quantities for the order have been produced and shipped.
"For the last nine months, we have been supporting Chang Rim's development work with various resins, including this new ElectriPlast formulation. Chang Rim's new consumer product incorporating our new blend is one of the results from those efforts," said Doug Bathauer, CEO, Integral Technologies. "We anticipate Chang Rim requiring nearly 50 tons per year of this new formulation once they start full production. The South Korean market, overall, has been an early adopter in recognizing the technological and economic significance of ElectriPlast."
Chang Rim is a specialty molder based in Daegu, South Korea focusing on high margin plastic injection molded products for a variety of industries including automotive, consumer and industrial products.
About Integral Technologies, Inc.
Integral Technologies Inc. (OTC-BB: ITKG) 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.
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, 2014 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.
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SOURCE Integral Technologies, Inc.