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Tuesday, 24 September 2019
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Markets & companies

Hybrid exercises option to manufacture and sell in Europe

Tuesday, 3 January 2012

Hybrid Coating Technologies looks to expand its business by manufacturing and selling polyurethane floor coating products in Europe.

The combined revenue for the European industrial and specialty coatings industry is estimated at USD 12 billion per annum.

Source: Stefan Balk - Fotolia.com
The combined revenue for the European industrial and specialty coatings industry is estimated at USD 12 billion per annum. Source: Stefan Balk - F...

Hybrid Coating Technologies Inc., pursuant to the terms of its licensing agreement with Nanotech Industries Inc., has exercised its option to manufacture and sell "Green Polyurethane” coatings and paint in Europe on an exclusive basis. "We have been working with multiple potential partners in Europe over the past year and our products have successfully undergone rigorous testing," said Joseph Kristul, chief executive officer. "We are now in advanced commercial discussions with multiple potential European partners for distribution and licensing as we look to expand our presence in the European continent." As Europe continues to strengthen its regulations against the use of products that contain toxic isocyanates such as polyurethane floor coatings, Hybrid said it can offer polyurethane floor coating products made without the use of isocyanates at any point in the manufacturing process. The combined revenue for the European industrial and specialty coatings industry is estimated at USD 12 billion per annum.

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