Industrial Nanotech, Inc. has announced Company plans to sell its newest product line, designed for the home builder and homeowner market, to a major paint company.
“Over the past two years, I have met with executives of three of the top ten US national home builders (http://www.probuilder.com/2016-housing-giants-rankings), several of the largest major regional home builders, and high end custom home builders,” stated Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. “Based on those meetings and input we received, we recognized the need for a new type of house paint. We have created that product; a zero VOC exterior house paint, available in any color, which combines excellent UV resistance for increased lifespan, increased thermal insulation and energy saving performance documented by independent accredited laboratory testing, and the ability to resist growth of mold and mildew without using a moldicide.”
Mr. Burchill continued, “We believe that the market for this product with regional and national home builders is too large for our Company to adequately serve, therefore we plan to spin off this product line to one the top ten US paint manufacturers with whom I have already had several preliminary meetings and who have expressed a strong interest in our coating technology.”
The Company expects to complete a transaction for the new product line in the next six to twelve months.
