Napier Discovers Friendly Coatings Lifter That Can Outperform Caustic Strippers
28 July 1999
Napier Discovers Friendly Coatings Lifter That Can Outperform Caustic Strippers: Files New Patents and Signs Distribution and Manufacturing Agreement for Pumps and Automobiles
VANCOUVER, British Columbia--July 27, 1999-- Napier International Technologies Inc. (NIR.TSE) is pleased to confirm the completion of multiple industry trials and a new product launch for our newest and most aggressive environmentally friendly chemical stripper, SV-35PMA.The product has proven to be effective for lifting some of the most difficult commercial marine, automotive and industrial paint systems. In fact, in-house testing performed on some of the toughest coatings in the world, (aircraft carrier non-skid deck coating) demonstrated clearly that Napier's improved technology can outperform the stripping abilities of even the nastiest methylene chloride and phenol caustic compounds on a range of coatings.
Remarkably this SV-35PMA has also successfully met the corrosion standards and requirements for entry into the aircraft market.
The new formulation is the subject of a new patent application filed by Napier to protect this proprietary advanced coatings lifter.
The increased efficacy of the stripper has enabled Napier to broaden significantly its current range of business opportunities.
As a result the company is also pleased to report that it has signed a marketing and manufacturing agreement with Precision Chemicals Inc. of Memphis, Tennessee. Precision will launch the SV-35PMA and a full complement of Napier's environmentally friendly strippers and cleaning compounds into the worldwide pump refurbishing industry, U.S. automotive refinishing market, and hardwood floor industry.
Mr. William Schmitt, President of Precision Chemicals recently sold his pump refurbishing businesses to Aeroquip-Vickers, Inc. (One of the world's leading pump manufacturers). Mr. Schmitt's companies supplied refurbished pumps to their distributors (over 2,000 in North America and twenty-one countries globally).
After twenty-one years in the industry, Mr. Schmitt is confident in his ability to introduce the Napier products to this vast marketplace, which will include exposure to the construction industry and refurbishing of heavy equipment since virtually all heavy equipment is powered through hydraulic or other pumps.
Not to be overshadowed, the arrangement marks Napier's initial entry into the automotive market for which Precision will commence introduction to the 50,000+ autobody refinishing shops in the U.S.A.
The manufacturing portion of the contract provides Napier with a second source of cost effective product supply as well as packaging in all sizes for the south central United States; cost savings have been calculated on shipping warehousing and inventories.
ON BEHALF OF THE BOARD OF DIRECTORS
Bradley T. Aelicks, President/Director
The Toronto Stock Exchange neither approves nor disapproves the contents of this news release which was prepared solely at the discretion of management.