MAINZ, Germany, March 3, 2006 (PRIMEZONE) -- Coattec Industries, Inc. (Pink Sheets:CTCK) announces that, according to a report by Dun and Bradstreet recently cited by the National Roofing Contractors Association (NRCA), the U.S. roofing industry is stable and growing. The demand for employment in this industry is currently very high, demonstrated by the more than 30,000 roofing contracting firms in the United States and a growing total annual sales volume of more than $30 billion.
The report emphasizes that the U.S. roofing market is less vulnerable to economic downturns in comparison to other construction trades because approximately 75% of the total roofing market consists of repair and renovation rather than new construction. The NRCA, established in 1886, is one of the construction industry's oldest trade associations and voice of the professional roofing contractors worldwide, having more than 4,600 members in all states and 54 other countries.
"The U.S. roofing market environment is very promising for Coattec's products, and we are proud to be in a sector that secures and creates employment. We are taking every step to rapidly develop and position production of our housewraps and roofing foils for entry into the U.S. market in order to take advantage of these positive market conditions this year," commented Bernd Meinecke, Chief Executive Officer of Coattec Industries Inc.
For further information on the company, 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.