Everyone can take it for what it's worth, but I am the President of USBI. I met the CEO of WNBD at a reception at the US Consulate in Toronto this past May, while part of a trade mission with the SC Department of Commerce and US Commercial Service. During the following months, he has expressed interest in how he could help my company grow.
As a result of that trip, USBI entered into a master distributorship agreement with Verick International, to handle the import of all current USBI technologies into Canada. Verick has also licensed EZ Armor for retail packaging to put in all 314 Canadian Tire stores. If it's successful, USBI intends to enter into a retail packaging agreement with Verick to distribute in the US retail market as well. Verick has plans to begin testing with Magna, to use EZ Armor as an ice-release coating on poly-carbonate headlamps, as well as developing markets for USBIs advanced coatings.
USBI is very active with the economic development community in SC, and will be part of the upcoming SC Dept of Commerce Trade Mission to China and Korea in March and April of 2017. We received an incentive package from SC and Oconee County for our new facility. We have also been introduce to the AML at Clemson University, and have begun utilizing their facilities for product development. We have also entered into a consulting agreement with a Clemson professor who hold several patents in the industry, to expand our SC laboratory.
EZ Armor was developed to advance our China market. Our current China distributor is DiShan Technology company. The have been distributing hydrophobic coatings to sanitary ware manufacturers in China for 10 years. Our development of EZ Armor to increase our market share has opened the door for new opportunities, such as the one with Verick.
Rolls Royce North America has recently concluded testing of a custom thermal coating, and has informed us that they are ready to negotiate a purchasing contract. We expect commercial orders to begin by mid 2017.
Current development projects:
Asahi Glass - hydrophobic windscreen coating
SCRA (Composites) - Fireproof Resins Program
Verick International - gel lining for anti-concussive helmets
Samsung - Two separate projects involving anti-icing solutions
Engineered Marine Coatings - hydrophobic all-purpose marine coating
- competitive product to Propspeed
New technologies that USBI has recently acquired distribution rights for:
Engineered Marine Coatings - Master distributor for the China market.
Hy-Power Coating - Architectural coatings for in-house and on-site application. Hy-Power Coatings supplies the EVO-Stone coating for Carter Panels. USBI is currently in need of financing for the construction of the building to support the new Apharetta, GA facility for Carter Panels, as well as expanding into the application sector, under the guidance of HY-Power coatings. USBI currently holds a property that has no liens to construct the facility. In addition to supporting the new operation, this will also allow us to bring the manufacturing of all of our current technologies to the new facility, thereby reducing our cost to manufacture. This is the project that WNBD is in discussions with USBI to support.
I hope this helps to claruify the latest news more fully. Feel free to contact me through our website, usbiinc.com if you want to know more about USBI.
