Exousia Signs Distribution Agreement for Southern China Territory
Results in Immediate Orders and Product Commitments SUGAR LAND, Texas, Mar 25 /PRNewswire-FirstCall/ -- Exousia Advanced Materials, Inc. (BULLETIN BOARD: EXOU) announces that the Company has entered into an Exclusive Distribution Agreement with Mr. Wei Jin Chen. Under the terms of the agreement, Mr. Chen has the exclusive rights to promote, market, distribute and sell industrial coatings from Exousia in the Southern China Territory, encompassing Guangdong Province, Guangxi Province, Yun Nan Province, Guizhou Province and Hai Nan Province. The agreement requires Mr. Chen to initially purchase a minimum of 10,000 gallons of Exousia's Advanced Industrial Coatings. Beginning in 2009, the Southern China Territory is committed to purchase at least $3 million USD worth of coatings each year. Mr. Chen is a civil engineer with a successful track record in real estate development, construction and business management.
China Southern Power Grid (CSPG), one of two state-owned power grid groups in China, has already placed an initial order through the Southern China Territory distributor. CSPG is administered by the State Department of China and serves the five southern provinces plus Hong Kong, Macao and Vietnam. Exousia will ship the order to CSPG from its AEGEON coatings plant in Houston and will provide technical assistance for two demonstration projects. CSPG is a major customer that can purchase 200,000 gallons annually, or about three times the minimum sales quota for the entire territory. "Senior management at CSPG is very impressed with the technical advantages provided by Exousia's high-end, extreme environment coatings," comments Exousia VP of Asian Sales and Marketing Mr. David Chen, "and they believe these coatings will deliver superior performance benefits. CSPG is a major Chinese Government entity that spends over US $100 million annually to control corrosion and Exousia is delighted to provide coatings for this major customer."
ABOUT EXOUSIA ADVANCED MATERIALS, INC. Exousia supplies advanced resins, engineered particles, and industrial products. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial and construction applications. The Company markets into both domestic and international markets. FOR FURTHER INFORMATION & DISCUSSION Investors are invited to visit the Exousia Advanced Materials IR Hub at AGORACOM: http://www.agoracom.com/ir/Exousia where they can post questions and receive answers or review questions & answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to: EXOU@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time. FORWARD LOOKING STATEMENTS Statements released by Exousia Advanced Materials, Inc. that are not purely historical are forward looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995 including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward looking statements contained in this release. CONTACT Investors: First Call Analyst:
CONTACT: Brokers: Surety Financial Group, LLC, +1-410-833-0078 Web site: http://www.agoracom.com/ir/Exousia
2008-03-25 09:29:46 0319577 PRNEWSWIRE
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