SUGAR LAND, Texas, July 1 -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU), a manufacturer of advanced industrial coatings for worldwide infrastructure applications and engineered composites for eco-friendly wood substitutes, takes this opportunity to update the investment community on the status of their contracted order with Bohai Shipbuilding and Repair, one of the largest shipbuilders in China.
As previously released, Exousia received an order for 31 metric tons of zinc-rich epoxy primers from Bohai Shipbuilding. This order was to be fulfilled from Exousia's Tianjin blending facility.
The Chinese Government requests that manufacturers use Chinese suppliers whenever feasible when manufacturing products in China. Exousia was able to secure quality Chinese suppliers for all but one key ingredient to fulfill the Bohai order. That ingredient has been shipped to China from a U.S. supplier with an anticipated arrival date of July 12. After clearing customs Exousia will be able to finalize, ship and bill this order. Exousia anticipates completion of this order by the end of July.
'I have worked very closely with the management of Bohai concerning this order,' explained Exousia CEO, J. Wayne Rodrigue. 'Bohai initially chose us as a supplier due to the quality of our coatings and has been extremely appreciative of our desire to provide them with only the highest quality product. They have also assured us that, upon successful completion of this initial order, Bohai intends to fulfill their commitment to Exousia for orders promised for the remainder of the year. This, in conjunction with Exousia's other established relationships throughout all six regions of China, should provide significant revenue for Exousia for the remainder of 2009, 2010 and beyond.'
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About Bohai Ship Building and Repair:
Bohai is a principal subsidiary of China Shipbuilding Industry Corporation. Bohai is on the northern coast of the Bohai Gulf, and is located northeast of Beijing. Bohai is among the largest shipbuilding companies in China. Its shipyard covers 3,600,000 square meters, and has a capacity of 600,000 tons/year.
About Exousia Advanced Materials, Inc.
Exousia manufactures advanced resins, engineered particles, high-performance coatings and structural products. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial and construction applications. The Company serves both domestic and international markets. Additional information on Exousia can be found at http://www.exousiacorp.com.
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.
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SOURCE Exousia Advanced Materials, Inc.
