Nanotech Industries, Shunfa
Co. enter deal for Chinese
polyurethane market
As its presence on the world stage grows, China’s paint and coatings industry continues to adopt “greener” coatings tech- nology to attract investors from the Western hemisphere
where regulatory standards are far stricter. Anticipating such
future regulations on its own shores, Chinese companies are follow-
ing the lead of their Western counterparts. The latest deal between
West and East involves Nanotech Industries International and
Shunfa Company.
Nanotech Industries (dba Hybrid Coating Technologies, or HCT)
has entered into a memorandum of understanding (MOU) with
Shunfa from Jiande City, China to manufacture and distribute HCT’s
Green Polyurethane technology in China and South East Asia.
Nanotech Industries is a San Francisco-based innovator focused
on improving the quality and safety of coatings and paint for indus-
trial and commercial customers around the world. They are the
exclusive licensee of Green Polyurethane coatings and paint, the
world's first patent protected polyurethane-based coatings and paint
products, according to the company.
Under the terms and conditions of the MOU, Nanotech Industries
will supply its technology and know-how to a jointly owned Chinese-
based LLC and Shunfa Company will be responsible for supplying
the necessary capital and management of the LLC, including manu-
facturing, marketing and sales.
HCT will receive a royalty on all sales from the LLC and a portion
of the profits. The LLC will have exclusive rights to HCT’s technology
for China and South East Asia subject to satisfying certain minimum
sales quotas. HCT, Shunfa Co. and the LLC will enter into an intellec-
tual property agreement to protect HCT’s technology and the LLC will
apply for certain Chinese patents based on HCT’s technology.
“We look forward to working with Shunfa Co. in developing one of
the world’s fastest growing markets for our technology,” said Joseph
Kristul, CEO and president of HCT, “and we expect to generate a sig-
nificant amount of business in the near future.”
China has been the world leader in polyurethane (PU) production
since 2007 and is also a significant consumer of polyurethane-based
consumer goods. By 2012 total global production of PU is predicted to
be 18,668,250 tons and China will produce roughly 34 percent, or
6,347,205 tons, of all global PU.
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