EL CAMPO, Texas, March 29, 2007 (PRIME NEWSWIRE) -- Exousia Advanced Materials, Inc. (OTCBB:EXOU) announces that the Company has signed a letter of intent to acquire Product Spectrum Group, Inc.(PSG). PSG, an established, 18-year-old company with a worldwide customer base, manufacturers laminated walls, floors and other structural components for the Recreational Vehicle (RV) industry. PSG also produces Structural Insulated Panel Systems (SIPs) for residential and commercial construction.
PSG is a 25,000 square foot, fully self-contained production facility located in Elkhart, IN, where 70% of all RVs are produced. Within a 30-mile radius of PSG's facility, approximately $14 plus billion in revenues are generated just in the RV industry alone. CEO of Exousia Advance Materials, Inc., J. Wayne Rodrigue, said, "Elkhart's business community operates like a cottage industry, with many deals done at the local Country Club. Outsiders are not as welcome. The acquisition of PSG solves that problem." Exousia will gain a natural entry point into the RV industry for the Company's patented and proprietary thermoplastic formulations. Exousia's intellectual property will allow PSG to manufacture lighter, stronger products, which will produce cost benefits and efficiencies for the RV and construction industries.
Additionally, PSG will provide Exousia with significant engineering and management expertise through its working relationship with PorterSIPS, of Holland, MI. PorterSIPS is a design, engineering and manufacturing company focused on exterior structures and insulated building envelopes for the construction industry. PSG has a franchisee position with PorterSIPS that provides ICC 2006 designation, added engineering staff and Porter's building and construction certification in all 50 states. This working relationship insures that PSG is in compliance with all current SIPs standards.
Mr. Rodrigue added, "PSG produces its products from raw materials purchased from Exousia. This acquisition provides manufacturing synergies for Exousia. PSG will provide Exousia with manufacturing capability to meet existing customer requirements as well as capacity to significantly increase production with minimal added capital requirements. Adding additional shifts will further increase our manufacturing capabilities. With our patented, proprietary technologies, Exousia should be able to penetrate both the RV and home construction markets in a dramatic way.
"In our last press release," continued Mr. Rodrigue, "I stated that we have a number of opportunities which will allow us to accelerate our business plan. The key benefit of this acquisition is that it will provide Exousia with the resources and distribution channels to substantially increase sales volume from PSG's current annual base of approximately $1.5 million. This is just one of several developments that will allow Exousia to maximize its growth in 2007 and the years ahead."
About Exousia Advanced Materials, Inc.
Exousia develops and commercializes advanced resins, engineered particles, and specialty products based on proprietary science related to the combination of plastic molecules, polymers and rubber composites. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial, and construction applications.
Forward-Looking Statements
Statements released by Exousia Advanced Materials, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.