e21 Scandium Technology Expands Into the World of Fishing
09:20 a.m. 07/10/2007 Provided By Market Wire
TORONTO, Jul 10, 2007 (MARKET WIRE via COMTEX) -- Element 21 Golf Company ("e21"or the "Company") (EGLF) (FRANKFURT: BJQ) the manufacturer of advanced Scandium Alloy golf equipment, announced today that it has signed a license agreement to expand its scandium technology into the world of hobby, sport and commercial fishing. The license is an extension of e21's two patents that protect scandium and its various applications.
The fishing license will allow e21 Golf to use the manufacturing knowledge it has developed for scandium golf shaft production to manufacture e21 scandium fishing rods, reels and other fishing accessories.
The world-wide fishing rod and accessory industry is estimated at $48 billion in goods and services. Considering that golf equipment is a $5.5 billion industry, expansion into fishing significantly increases manifold, e21's potential, and has created diversification into one of the most popular sport and industries world-wide.
Dr. Nataliya Hearn, e21 CEO, commented that, "e21 has been planning to expand into other sports that can benefit from the Scandium advantages. With e21's manufacturing know-how, fishing was the natural extension. The aim of e21 is to proliferate Scandium use and to brand e21 Scandium material."
Bill Dey, e21's COO, said, "The Fishing license is the correct strategic move for e21. We possess the manufacturing capability to expand our business ,and increase Scandium awareness. The unprecedented feel of e21 Scandium golf clubs, can be replicated in fishing rods; where the feel, strength and light-weight characteristics make a winning product."
