Exousia Advanced Materials, Inc. Provides First Quarter 2009 Corporate Update

2009-05-18 09:05 ET - News Release

Also News Release (U-UFPI) UNIVERSAL FOREST PRODUCTS INC

Focus On Sales And Driving Growth: Bohai Shipbuilding and China United Engineering Corporation Shipments Underway, UFPI Deploying Nationwide Tuffcore Sales Force

SUGAR LAND, Texas, May 18 /PRNewswire-FirstCall/ -- Exousia Advanced Materials, Inc., a company that manufactures advanced industrial coatings for worldwide infrastructure applications and engineered composites for eco-friendly wood substitutes, provides update on recent developments, contracts, and corporate activity for first quarter 2009 ending March 31, 2009, and first half of second quarter 2009.

During 2008, Exousia successfully established production facilities both in the U.S. and at a favorable location in Tianjin, China, and filed the Chinese legal requirements for forming a Wholly Owned Foreign Enterprise (WOFE). Throughout the year, the company formed relationships with distributors and alliances with leading Chinese companies and marketing representatives to distribute its industrial coatings, secured major distributorship agreements including an agreement with Northern International Group and put several other Letters of Intent in place. In the U.S., Exousia focused on commercializing RPA through its Tuffcore product. The successful development and testing of the product during 2008 led to the company's national distributorship agreement with Universal Forest Products

The first quarter milestones Exousia achieved, including the distribution agreement with Universal Forest Products, as well as contracts secured in China during first part of the second quarter, provides foundation for exponential growth the company has worked for since 2007. With the approvals now in place in China, combined with the production facilities in the U.S., Exousia expects to deliver on up to $20 million USD or more worth of production for the remainder of the year as it ramps up production each quarter.

First Quarter 2009 and Continued Growth

    --  Recently announced financing to facilitate full production in both the
        US and China facilities
    --  Under China operations, Exousia recently began shipments to both Bohai
        Shipbuilding and China United Engineering Corporation
    --  In the U.S., Exousia signed its exclusive national distributorship
        agreement with Universal Forest Products
    --  UFPI has deployed 125 industrial sales people across the U.S. to sell
        Tuffcore
    --  The company brought on Tom Moccia, a materials technology executive with
        twenty-five years of experience, to serve as the company's Vice
        President of Global Sales and Marketing
    --  Appointed Paul Crozier, a veteran of the industrial coatings industry,
        Managing Director of China Operations to further drive the growth
        strategy in China

"The end of 2007 marked our transition from a company testing in the lab to a company commercializing product and expanding sales through distribution agreements both in the U.S. and China throughout 2008," said Wayne Rodrigue, Chairman and CEO. "Although the fourth quarter of 2008 and the first quarter of 2009 were extraordinarily difficult times in the capital markets, we were able to secure the capital needed to meet the production ramp up schedule for our distribution agreements. Also during the first quarter of 2009, we received our final licenses in China, allowing us to begin booking revenues in the second quarter. In the U.S., much of our effort was focused on putting in the new equipment necessary to expand plant production, which affected revenues in the short term, but provide for increased revenues going forward. We have reached an extremely exciting and pivotal time for the company; the contracts we have put in place and announced represent just our initial success in establishing partners and alliances. We look forward to continuing to communicate our future developments to our shareholders and the investment community as we carry out further growth initiatives during 2009."

For more news and information on Exousia Advanced Materials, Inc., please visit http://irgnews.com/coi/EXOU where you can find a fact sheet on the company, investor presentations, and more.