LAS VEGAS, Jan. 16, 2013 /PRNewswire/ -- NANOTECH
ENTERTAINMENT (PINKSHEETS: NTEK) today announced that after
successful negotiations last week during the CES conference it has
completed a long term partnership agreement with EB2 Global
Manufacturing. The comprehensive agreement provides a
multitude of benefits for both companies. Established in 1988
and located in the Guangdong
Province, the most populated province in China, EB2 operates its own 50,000 ft2
manufacturing plant with over 250 employees. EB2 also has a
distribution and sales network that covers all of Asia.
EB2 will immediately begin production of NanoTech's consumer
electronics and gaming products in January
2013 including the Mot-Ion Pinball Kit and MultiPin Digital
Pinball Machine. NanoTech is anticipating a cost reduction of
40% or better over its current costs for its existing product
line. "We are very excited to work with the EB2 team in
ramping up our production runs from the hundreds to the thousands
while reducing our cost of good significantly," stated NanoTech CEO
Jeffrey A. Foley. "The EB2
facilities are state of the art and we have already had excellent
dialog with their engineering team in reviewing our products and
getting them ready for tooling and production."
NanoTech will also receive the benefit of expanding its sales
into the Asian market by leveraging the sales and distribution
network already in place by EB2 for their own products. "EB2
has a diversified portfolio of products ranging from consumer
electronics to the biggest supply chain of Chinese white wine,"
noted Edward Norcott Jr, Vice
President of EB2. "We are looking forward to working with
NanoTech team and building and selling their products into the vast
Asian market." Norcott is an US ex-patriot with over 20
years' experience in engineering design and manufacturing heads up
the EB2 team and will be in charge of overseeing the NanoTech
relationship and product line.
As part of the agreement, NanoTech will also become the
exclusive online and North American distributor for several
products developed by EB2. "We are looking forward to
bringing in the consumer products that EB2 has created and opening
up a market for them here in North
America as they are doing for us in China with our products," added Foley.
"EB2's state of the art manufacturing facilities and incredible
design team is the perfect partner for NanoTech. By
immediately adding several new consumer products to our lineup, we
anticipate even faster growth in 2013 that previously
expected."
About NanoTech Entertainment
Headquartered in Las Vegas, NV,
NanoTech Entertainment is a technology company that focuses on all
aspects of the entertainment industry. With three business
units, focusing on Gaming, Media & IPTV and Mobile Apps, the
company has a unique business model. The company has a
diverse portfolio of products and technology. NanoTech Gaming
Labs operates as a virtual manufacturer, developing its technology
and games, and licensing them to third parties for manufacturing
and distribution in order to keep its overhead extremely low and
operations efficient in the new global manufacturing economy.
NanoTech Media develops proprietary technology which it licenses to
publishers for use in their products as well as creating and
publishing unique content. NanoTech Communications develops
and sells proprietary apps and technology in the Mobile and
Consumer space. NanoTech is redefining the role of developers
and manufacturers in the global market. More information about
NanoTech Entertainment and its products can be found on the web at
www.NanoTechEnt.com.
NanoTech Entertainment (PINKSHEETS: NTEK) trades on OTC Pink,
the open marketplace for a wide spectrum of equity securities.
Investors can find real-time quotes and market information at
www.otcmarkets.com.
"Safe Harbor" Statement: Under The Private Securities Litigation
Reform Act of 1995: The statements in the press release that relate
to the company's expectations with regard to the future impact on
the company's results from new products in development are
forward-looking statements, within the meaning of the Private
Securities Litigation Reform Act of 1995. Since this
information may contain statements that involve risk and
uncertainties and are subject to change at any time, the company's
actual results may differ materially from expected results.
The NanoTech Entertainment logo is a trademark of NanoTech
Entertainment, Inc. All rights reserved. All other marks are the
property of their respective owners. "The Future of
Television" is a service mark of NanoTech Entertainment, Inc., All
Rights Reserved
Contact: Denise Clifford
Phone: (702) 518-7410
Email: denise@nanotechent.com
SOURCE NanoTech Entertainment