Integral Creates Manufacturing Foundation for Growth
EVANSVILLE, Ind., March 9, 2015 /PRNewswire/ -- Integral Technologies, Inc.'s (OTC-BB: ITKG) wholly owned subsidiary ElectriPlast Corp. announces the completion of the relocation of its North American manufacturing from Jasper to Evansville, Indiana to prepare the foundation for expected manufacturing growth. In conjunction with long time manufacturing partner Jasper Rubber Products, the manufacturing is now taking place at Nova Polymers facility in Evansville, IN.
The relocation of the current manufacturing from the Jasper Rubber Products facility to Nova Polymers began in the fall of 2014, and was completed early this year. In addition to relocating the line, additional capacity was added by dedicating existing Nova fixed assets to the ElectriPlast process which will increase capacity by ten times when fully implemented. Nova was selected because they provide the necessary infrastructure for scaling manufacturing capacity to meet the expected growth in customer volumes through 2020 and beyond.
Nova brings over thirty years of experience in the custom compounding of engineering resins. Nova manufacturing and engineering resources includes an on-site lab which is a critical component in providing the required mechanical testing for ElectriPlast. With Nova's additional resources, ElectriPlast's customers will experience improved availability, shorter turnaround times and strategic room for growth as the manufacturing facility will accommodate significant increases in capacity. As demand dictates, ElectriPlast and Nova plan to develop five acres of land, located adjacent to Nova, which has been set aside for future expansion.
"We're excited to be a part of ElectriPlast's expansion and we're looking forward to being a partner in its strategic growth," states Roger Chapman, owner and President of Nova Polymers. "The ElectriPlast technology, combined with our compounding experience and Jasper Rubber's ElectriPlast manufacturing experience, make for a real winning combination."
"Moving the manufacturing line to Nova in Evansville is a logical step for ElectriPlast," said Doug Mathias, President Jasper Rubber Products. "We've enjoyed a close working relationship with ElectriPlast, and we look forward to continuing that relationship as we use our manufacturing engineering and process manufacturing experience to assist them as they scale operations cost effectively."
"This move has been planned since early 2014, as we anticipated the demand for additional ElectriPlast production to support Delphi, BASF and other partners," said Doug Bathauer CEO, Integral Technologies. "Nova is an excellent partner for us as they provide room for growth and have decades of compounding experience and lab testing capabilities which meet customer requirements and will facilitate achievement of necessary unit cost objectives. Based on already implemented process improvements and future enhancements, we estimate that our manufacturing costs will be reduced by roughly 50%. Relocating ElectriPlast manufacturing to Evansville, the hub of the North American plastics industry, will provide us greater access and opportunities within the plastics community."
Integral and ElectriPlast expect to increasingly use Evansville as the center of operations going forward. The Company has added a manufacturing director as well as a manufacturing operator. Additional direct manufacturing resources associated with growth will be in Evansville, as well as other functional support individuals. As part of this overall strategy, the Company recently opened executive and administrative office facilities at the Nova location.
About Nova Polymers
Nova was established in 1984 as a customer compounder of engineering grade resins and thermoplastic rubbers. They serve numerous industries, including, heavy trucking, automotive, and lawn and garden. Nova specializes in low cost plastic compounding, while maintaining the highest standards of quality. Nova currently has capacity for over 50 million pounds of resin annually.
Nova compounds flame retardant, UV resistant and reinforced resins. Nearly all products are available in custom colors. Proprietary products include a line of impact modifiers for olifinic and styrenic materials. The use of these impact modifiers creates ultra-high impact grades of TPR, PE and PP.
Nova's fastest growing product line is Thermoplastic Rubbers (TPR). TPR's are currently widely used in automotive, lawn and garden and recreation industries. They are capable of compounding TPR's ranging from 50 Shore-A through the full range of Shore-D hardness.
About Integral Technologies, Inc.
Integral Technologies Inc. (OTC-BB: ITKG) and wholly owned subsidiary ElectriPlast Corp, engage in the discovery, development, and commercialization of electrically conductive hybrid plastics used primarily as raw materials in the production of industrial, commercial and consumer products and services worldwide. Its core material, ElectriPlast®, is a non-corrosive, electrically conductive resin-based material whose properties allow it to be molded into any of the infinite shapes and sizes associated with plastics, rubbers and other polymers while reducing component weight by 40 to 60%. Integral is a leader in conductive hybrid plastics with a broad Intellectual Property portfolio referencing its ElectriPlast technology. Applications for ElectriPlast include: Shielding Wire, Power Electronics, Connectors, and Cables; Shielding, Conduction, Batteries, Semiconductors, Heated Elements, Sensors, Antennas, Medical Devices, Consumer Electronics and Acoustics, Fuses, Capacitors, Resistors, RFID, Bus bars and Terminals.
Safe Harbor Statement
This press release contains "forward-looking statements'' within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. These statements include, without limitation, predictions and guidance relating to the company's future financial performance and the research, development and commercialization of its technologies. In some cases, you can identify forward-looking statements by terminology such as, "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations, but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements, as the result of such factors, risks and uncertainties as (1) competition in the markets for the products and services sold by the company, (2) the ability of the company to execute its plans, (3) other factors detailed in the company's public filings with the SEC, including, without limitation, those described in the Company's annual report on Form 10-K for the year ended June 30, 2014 as filed with the Securities and Exchange Commission and available at www.sec.gov, and (4) the parties may be unable to agree upon definitive agreements. You are urged to consider these factors carefully in evaluating the forward-looking statements.
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SOURCE Integral Technologies, Inc.