$HCTI Pr OTC
$0.0024
Distribution Agreement With Industrial Finishes & Systems
9:20 Am 1/13/2016
Industrial Finishes & Systems of Eugene has become the exclusive distributor of a new, environmentally friendly polyurethane. In a three-year deal that will cost $4 million, Industrial Finishes will help launch the sales of floor and wall coatings containing a patented “Green Polyurethane” developed by San Francisco-based Hybrid Coating Technologies. Industrial Finishes will sell “TRUE Green Poly” coatings through its nationwide network of distribution centers, marketing director Mike Duncan said on Wednesday. HCT was founded by a “group of brilliant chemists” who developed Green Polyurethane, he said. The product, which helps make floor and wall coatings more adhesive and durable, is a substitute for conventional polyurethanes that are manufactured with toxic isocyanates, which can cause respiratory problems, Industrial Finishes said in a statement. The U.S. Environmental Protection Agency is “taking progressive action to regulate and potentially ban” isocyanates at some future date, the company said. Duncan said when isocyanates are removed from polyurethane, so, too, are “other volatile organic compounds and unpleasant odors that go along with those.” Products made with Green Polyurethane are less toxic than conventional polyurethane, and emit such low odor that they can be used in sensitive environments, such as hospitals and schools, he said. And they can be used to help buildings achieve Leadership in Energy & Environmental Design, or LEED, certification, Duncan said. In October, publicly traded HCT said it had reached a deal to grant limited exclusivity to a U.S.-based distributor for several of Hybrid’s coating formulations. It did not name the firm, but Duncan on Wednesday confirmed that Industrial Finishes is the distributor. During the next three years, the distributor must order a minimum of $4 million in coatings to retain its exclusive right to distribute TRUE Green Poly, HCT said. Industrial Finishes Chairman and Chief Executive Stuart Barr said his firm is “excited to have the opportunity to bring this much-needed product to market.” “This is truly a game-changer,” he said. “In today’s world, eliminating harmful (volatile organic compounds) and isocyanates is an increasingly important focus.” Industrial Finishes & Systems was founded in 1958 by Barr and Jerry Bruce, who bought Autobody and Paint Supply Co., a wholesale distributor of auto body supplies. It had one branch and three employees. Today, the firm is owned by the Barr family. It distributes automotive and industrial coatings, body shop supplies, and fasteners to the automotive, transportation, recreational vehicle, aircraft, marine and industrial markets. The company employs 280 people nationwide, with 66 in Eugene at its West First Avenue headquarters. Industrial Finishes & Systems has a major presence in automotive and other markets, Duncan said. The firm hopes True Green Poly will help it make inroads in the building materials markets, he said. Hybrid Coating Technologies describes itself as an “innovator focused on improving the quality and safety of foams, coatings and adhesives for industrial and commercial customers around the world.” The company said it has the first patent-protected polyurethane-based foam that eliminates toxic isocyanates from the manufacturing process. The firm said it received a Presidential Green Chemistry Award in July for its development of Green Polyurethane. In a statement, HCT President and Chief Executive Joseph Kristul said Industrial Finishes has several attributes that led to the exclusive national distribution agreement. “Industrial Finishes has a strong management team with a vision toward the future of coatings,” he said. “They also have a highly motivated sales team with a record of success. We believe this will be an exceptional partnership and are excited about the product launch.”
$0.0024
Distribution Agreement With Industrial Finishes & Systems
9:20 Am 1/13/2016
Industrial Finishes & Systems of Eugene has become the exclusive distributor of a new, environmentally friendly polyurethane. In a three-year deal that will cost $4 million, Industrial Finishes will help launch the sales of floor and wall coatings containing a patented “Green Polyurethane” developed by San Francisco-based Hybrid Coating Technologies. Industrial Finishes will sell “TRUE Green Poly” coatings through its nationwide network of distribution centers, marketing director Mike Duncan said on Wednesday. HCT was founded by a “group of brilliant chemists” who developed Green Polyurethane, he said. The product, which helps make floor and wall coatings more adhesive and durable, is a substitute for conventional polyurethanes that are manufactured with toxic isocyanates, which can cause respiratory problems, Industrial Finishes said in a statement. The U.S. Environmental Protection Agency is “taking progressive action to regulate and potentially ban” isocyanates at some future date, the company said. Duncan said when isocyanates are removed from polyurethane, so, too, are “other volatile organic compounds and unpleasant odors that go along with those.” Products made with Green Polyurethane are less toxic than conventional polyurethane, and emit such low odor that they can be used in sensitive environments, such as hospitals and schools, he said. And they can be used to help buildings achieve Leadership in Energy & Environmental Design, or LEED, certification, Duncan said. In October, publicly traded HCT said it had reached a deal to grant limited exclusivity to a U.S.-based distributor for several of Hybrid’s coating formulations. It did not name the firm, but Duncan on Wednesday confirmed that Industrial Finishes is the distributor. During the next three years, the distributor must order a minimum of $4 million in coatings to retain its exclusive right to distribute TRUE Green Poly, HCT said. Industrial Finishes Chairman and Chief Executive Stuart Barr said his firm is “excited to have the opportunity to bring this much-needed product to market.” “This is truly a game-changer,” he said. “In today’s world, eliminating harmful (volatile organic compounds) and isocyanates is an increasingly important focus.” Industrial Finishes & Systems was founded in 1958 by Barr and Jerry Bruce, who bought Autobody and Paint Supply Co., a wholesale distributor of auto body supplies. It had one branch and three employees. Today, the firm is owned by the Barr family. It distributes automotive and industrial coatings, body shop supplies, and fasteners to the automotive, transportation, recreational vehicle, aircraft, marine and industrial markets. The company employs 280 people nationwide, with 66 in Eugene at its West First Avenue headquarters. Industrial Finishes & Systems has a major presence in automotive and other markets, Duncan said. The firm hopes True Green Poly will help it make inroads in the building materials markets, he said. Hybrid Coating Technologies describes itself as an “innovator focused on improving the quality and safety of foams, coatings and adhesives for industrial and commercial customers around the world.” The company said it has the first patent-protected polyurethane-based foam that eliminates toxic isocyanates from the manufacturing process. The firm said it received a Presidential Green Chemistry Award in July for its development of Green Polyurethane. In a statement, HCT President and Chief Executive Joseph Kristul said Industrial Finishes has several attributes that led to the exclusive national distribution agreement. “Industrial Finishes has a strong management team with a vision toward the future of coatings,” he said. “They also have a highly motivated sales team with a record of success. We believe this will be an exceptional partnership and are excited about the product launch.”
