NanoCon Newswire
Aug. 21, 2006 (Romeoville, Ill.) — Nanophase Technologies , a technology leader in nanomaterials and advanced nanoengineered products, announced the initial order for a new textile application that is being introduced to the industry on a global basis. Details of the customer and application remain confidential at this time.
“This order represents the culmination of more than two years of application development with a leading global supplier to the textile industry,” stated Ian Roberts, Vice President of U.S. and International Sales. “As we have stated, nanomaterial applications for textiles is one of several target markets for Nanophase. This order represents the first product to be introduced for textile applications and we are optimistic about future development and new product introductions. While we do not expect material revenue from this application during 2006 in the initial launch process, we are optimistic about continuing revenue growth from the textile market over the next few years.”
Nanophase Technologies Corporation (NANX), http://www.nanophase.com/ , is a leader in nanomaterials technologies and provides nanoengineered solutions for multiple industrial product applications. Using a platform of patented and proprietary integrated nanomaterial technologies, the Company creates products with unique performance attributes from two ISO 9001:2000 and ISO 14001 facilities. Nanophase delivers commercial quantity and quality nanoparticles, coated nanoparticles, and nanoparticle dispersions in a variety of media. The Company owns or licenses 18 United States and 43 foreign patents and patent applications. Information about Nanophase may be found in the Company’s public filings or on its website.
This press release contains words such as “expects”, “shall”, “will”, “believes” and similar expressions that are intended to identify forward- looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company’s current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company’s results of operations, performance and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risk and uncertainties include the following: a decision by a customer to cancel a purchase order or supply agreement in light of the Company’s dependence on a limited number of key customers; uncertain demand for, and acceptance of, the Company’s nanocrystalline materials; the Company’s manufacturing capacity and product mix flexibility in light of customer demand; the Company’s limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company’s dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; and other risks described in the Company’s Form 10Q filed August 8, 2006 and other filings with the Securities and Exchange Commission. In addition, the Company’s forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties or other contingencies.
Nanophase Technologies Corporation
CONTACT: Joseph Cross, President, CEO, +1-630-771-6705, or JessJankowski, VP, CFO, +1-630-771-6702, or Nancy Baldwin, Investor Relations,+1-630-771-6707, all of Nanophase Technologies
Web site: http://www.nanophase.com/