MAINZ, Germany, Jan. 11, 2006 (PRIMEZONE) -- Coattec Industries, Inc. (Pink Sheets:CTCK) announces the Company's business development strategy for 2006, including potential milestones and anticipated developments. Coattec's plans are based on the results of a Company-sponsored market feasibility study completed in September 2005 indicating that competitively priced, high-quality products such as Coattec's underlays and housewraps would be well received in the U.S. markets.
In the coming quarters, Coattec plans to subcontract manufacturing and to begin marketing its proprietary roofing products COATFLEX(tm), DIFFLEX(tm), and COATTECFLEX(tm) in the U.S. Additionally, the Company intends to commence the importation and exportation of specific roofing products via strategic relationships established with European and American companies.
Coattec Industries owns the exclusive license to technology to create a proprietary coating that has applications in various industries. The main use of the Company's coating will be for roofing foils, underlays and housewraps in the residential housing market to provide insulation and a humidity barrier while inhibiting the growth of mold in new homes. The coating's antibacterial properties make it useful in other industries including the home improvement industry as filters for air conditioning units, the automotive industry as a potential replacement for PVC, and the glass industry for abrasion control.
Bernd Meinecke, President and CEO of Coattec Industries, commented on the business agenda, "This past year represented a period of intense research and market surveying for Coattec. We made important strides in establishing relationships with potential business partners and anticipate beginning the marketing of our underlays and housewraps. Additionally, we forecast the Company to begin realizing sales in the coming year through the commencement of our Transatlantic commerce operations and product manufacturing in the U.S. We are very excited for 2006 and expect to report several developments within the first quarter that will lay critical groundwork for our business operations going forward."
For further information, please visit www.coattecindustries.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.