MAINZ, Germany, March 15, 2006 (PRIMEZONE) -- Coattec Industries, Inc. (Pink Sheets:CTCK) announces that the Company is working with Diversi-Plast, the world's largest manufacturer of corrugated plastic products, to arrange the importation of ridge vents designed for tile roofs from Meinecke Dachtechnologies, based in Germany. Coattec currently has an exclusive agreement in place with Meinecke for the exportation of roofing products to the United States.
Coattec and Diversi-Plast are presently in business negotiations regarding the potential manufacturing of the Company's proprietary housewraps and roofing foils in the U.S. Coattec believes that in addition to these roofing products, the current market conditions in the United States are favorable for the importation of German ridge vents designed for tile roofs. The Company continues to pursue its business agenda for 2006 which entails the establishment of import/export operations between Germany and the U.S. and securing a manufacturing agreement with a U.S. entity for Coattec's high quality roofing foils and underlays.
Bernd Meinecke, President and CEO of Coattec Industries, commented, "Given that the U.S. residential market is experiencing a large increase in the installation of tile roofs, we are pursuing the exportation of the highest quality ridge vents designed for these rooftops. While we are currently in discussions with Diversi-Plast to manufacture our Coattecflex, Coatflex and Difflex products, it is logical to increase the scope of any potential distribution agreements to include these ridge vents that have experienced great success in the European roofing markets."
For further information, please visit www.coattecindustries.com.
About Coattec Industries, Inc.
Coattec Industries owns the exclusive license to technology to create a proprietary coating that has applications in various industries, primarily the residential housing market. The main use of the Company's coating will be for roofing foils and housewraps that provide insulation and a humidity barrier while inhibiting the growth of mold in new homes. The coating's antibacterial properties make it useful in other industries including the home improvement industry as filters for air conditioning units, the automotive industry as a potential replacement for PVC, and the glass industry for abrasion control.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.