MAINZ, Germany, Feb. 2, 2006 (PRIMEZONE) -- Coattec Industries, Inc. (Pink Sheets:CTCK) announced that Diversi-Plast, the world's largest manufacturer of corrugated plastic products owned by the privately held group Liberty Diversified Industries, (LDI) and Meinecke Dachtechnologies, based in Wiesbaden, Germany, have signed a non-competition agreement as the preliminary step to the commencement of importation and exportation transactions. Coattec Industries plans to act as a facilitator and intermediary for the exchange of roofing technologies and products between the two companies.
Meinecke Dachtechnologie specializes in designing, engineering and manufacturing high quality roofing products which are distributed throughout Germany and Europe. Diversi-Plast, based in Minneapolis, is the industry leader in the innovation, design, manufacturing and marketing of products utilizing corrugated plastics. Trimline(R) Building Products (www.trimline-products.com) is a part of Diversi-Plast(R) Products and is a producer of a specialty shingle-over ridge vent attic ventilation system used in residential, remodeling and light industrial construction. Coattec Industries would serve as the liaison in any import/export arrangements and sees potential to enter into agreements with both companies in the near future.
"We believe that there exists a lucrative and untapped market in the U.S. and Europe and Coattec is taking the steps necessary to work with high quality producers and distributors of roofing products in both of these markets. These preliminary discussions and non-competition agreement between Meinecke Dachtechnologie and Diversi-Plast mark an important first step in this process," commented Bernd Meinecke, President and CEO of Coattec Industries. "Coattec anticipates future dealings with both of these organizations as part of our strategy to create a successful import/export operation of roofing products and technologies."
For further information, please visit www.coattecindustries.com.
About Coattec Industries, Inc.
Coattec Industries owns the exclusive license to technology to create a proprietary coating that has applications in various industries, primarily the residential housing market. The main use of the Company's coating will be for roofing foils and housewraps that 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.
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.