Nanophase Announces Strategic Collaboration
June 29 2017 - 4:00PM
Nanophase Technologies Corporation (OTCQB:NANX), a technology
leader in nanomaterials and advanced nanoengineered products, today
reported the execution of development, manufacturing and
distribution agreements with Eminess Technologies, Inc., a premier
manufacturer and distributor of products for polishing of critical
surfaces, to enhance their mutual positions in supplying advanced
material solutions to the surface finishing marketplace.
“Our companies have known each other for quite
some time. We expect this relationship to extend the reach of
our products to a broader market, allow for a higher degree of
focus on customer support in polishing and surface finishing areas
where Eminess is more deeply established than Nanophase, and also
to foster the development of new markets and products that are
squarely within the Eminess strategic focus. We believe that
our material solutions will offer Eminess a market advantage, while
allowing Nanophase to quickly deepen a successful supply position
in those markets,” stated Nanophase CEO, Jess Jankowski. Dan
Koharko, CEO of Eminess added, “These agreements enhance our
ability to deliver the technology to our customers who require
advanced materials and application knowledge to produce their
critical, next generation products. Our quick, efficient
development, manufacturing, and supply chain ensures that current
and future world-class Nanophase particle technology is accessible
to all that would benefit from it.”
“Eminess will begin to manufacture selected
Nanophase product lines, and exclusively distribute others.
Included in these arrangements, the companies will implement
a royalty agreement for certain future sales, along with certain
minimum revenue volumes to ensure ongoing benefit for both
organizations while we work together to best serve customers in
this market,” said Jankowski.
“In terms of our transition, the shared goal of
Nanophase and Eminess is to have all the commercial and
organizational coordination completed in time for the Optifab 2017
exhibition to be held in Rochester, New York, beginning October
16th of this year.”
Jankowski continued, “This collaboration
reflects another step in executing the Nanophase strategy of
focusing our business development resources on the continued
rollout of our new fully formulated personal care, and
solar-control solutions, while allowing us to remain engaged and
continuing to profit from our well-proven capabilities in the
surface finishing marketplace.”
About Nanophase
TechnologiesNanophase Technologies Corporation (NANX),
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 9001:2008 and ISO
14001 facilities. Nanophase delivers commercial quantity and
quality nanoparticles, coated nanoparticles, and nanoparticle
dispersions in a variety of media.
Forward-Looking StatementsThis
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 risks and uncertainties
include, without limitation, the following: the Company’s ability
to be consistently profitable despite the losses it has incurred
since its incorporation; 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; the terms of the
Company’s supply agreements with BASF Corporation, which could
trigger a requirement to transfer technology and/or sell equipment
to that customer; the Company’s potential inability to obtain
working capital when needed on acceptable terms or at all; the
Company’s ability to obtain materials at costs it can pass through
to its customers, including Rare Earth elements, specifically
cerium oxide, as well as high purity zinc; 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 or other legal proceedings in which
the Company may become involved; the impact of any potential new
government regulations that could be difficult to respond to or too
costly to comply with while remaining financially viable; the
ability of the Company to maintain an appropriate electronic
trading venue for its securities; and other factors described in
the Company’s Form 10-K filed March 29, 2017. 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.
COMPANY CONTACT
Frank Cesario
Investor Relations
630-771-6705
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