"THE ABSOLUTE BEST IN FIRE
PROTECTION
TECHNOLOGY"
"THE ABSOLUTE BEST IN FIRE
PROTECTION
TECHNOLOGY"
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PRESS
RELEASE 60 (Released Via Buisness Wire:) March 3, 2008 CURRENT NEWS ITEM : UPDATE: Flame Seal Products, Inc. has signed agreements with it new strategic partner in the Spray Applied Polyurethane Foam market, Specialty Products, Inc. (SPI). The agreement contains mutual covenants and guarantees for both parties whereby Flame Seal will immediately acquire full certification for its new product through Intertek Laboratories, Warnock-Hersey and International Code Council Evaluation Service (ICC-ES), and immediately upon completion of same, SPI will exclusively Market, Sell and Distribute Flame Seal’s Intumescent Coating to its customers, as well as to the entire U.S. market. The size of the basic U.S. market that immediately applies to this application is estimated at $22 Million. SPI and Flame Seal have been working together for two years on R&D for both Companies, as well as SPI’s government and military projects. The relationship that has developed between these Companies has made this a logical strategic step that will greatly benefit both Organizations. The plan that both Companies have agreed to calls for Certification to be complete in 4-6 weeks, then Marketing will begin, with first shipments anticipated within 60 days of Marketing initiation. SPI provided the following Corporate Outline: Since 1974, Specialty Products Inc. (SPI) continues to be an industry leading manufacturer of spray-applied Polyurea and Polyurethane Foams. SPI offers a complete one-stop solution through manufacturing their products and equipment. Their unique testing environment allows SPI’s chemists to rapidly produce & test product variations to quickly bring them to market. This means customers will have a reliable product that is formulated with the right physical properties to meet their individual project needs. SPI provides 24/7 advanced support from a technical staff with over 150 years of combined industry experience. Specialty Products services numerous industries: residential & commercial construction, oil and gas, military, water irrigation, nuclear power, food & beverage, manufacturing, and transportation among many others. SPI has manufacturing facilities in Washington State, Alaska and Texas that distribute their products nationally and worldwide to over twenty different countries. Specialty Products has continued to grow over 7% annually during the last ten years, and is projecting further increased market share with the release of several new industry revolutionizing products. SPI is ISO 9001:2000 certified and also a founding member of the Polyurea Development Association (PDA). Specialty Products is your trusted source for Polyurea, Polyurethane Foam, and spray application equipment. Contact SPI today at (800) 627-0773 or visit us on the web at www.specialty-products.com. FROM THE PRESIDENT OF Specialty Products Incorporated (SPI): “As an industry veteran with over thirty eight years experience developing and distributing polyurethane foam, I can sincerely say I am excited about partnering with Flame Seal Products to introduce the new generation of thermal barrier coatings for foam materials. In 1988 SPI went to market with our nationally recognized, UL rated, ICC certified cementitious thermal barrier coating called Foam Safe™. Although industry proven, Foam Safe™ is not without its limitations. Foam Safe ™ requires expensive application equipment, is labor intensive to apply and due to the weight of the product, expensive to transport. After meeting with Mike Kiser three years ago my awareness for the necessity to create a more economical alternative to Foam Safe was greatly heightened. This realization presented the opportunity to develop, introduce and market this new generation of intumescent coatings for foam material. Flame Seal’s new intumescent coating will provide substantial cost savings to the polyurethane applicator while simplifying the process allowing for entry level expertise with little or no training. This is a great new opportunity for applicators who found the equipment required to apply Foam Safe economically prohibitive. This state of the art, affordable, coating and simplified application equipment allows applicators to optimize their services within the thermal coating barrier industry while providing the end user with a more affordable and aesthetically pleasing form of protection.” FROM THE PRESIDENT OF FLAME SEAL: “This is a very exciting time for our Company, as this is our first Multi-Million Dollar Distribution agreement that has reached this stage of development. More will follow, but the first is always special. As many of you know, a lot of battles, patience and very hard work went into this and the rewards for that work are now beginning to show. The feeling in our offices is that of elation mixed with exhaustion, and many of you long-term shareholders certainly know exactly what I mean! I welcome Specialty Products, Inc. as a key strategic partner, and especially thank Dan Helton, President of SPI for his support and leadership. Many thanks also to Mike Cork, SPI’s research specialist, for his support and assistance in these projects." NOTE: Progress Reports will be released as the above noted stages occur. BACKGROUND: FLAME SEAL PRODUCTS, INC. (FLMP) became a public company and began trading March 27, 2000 on the OTC (Non-BB “Pink Sheets”) stock market. Flame Seal Products, Inc. is the Transfer Agent of record. Michael D. Kiser President |
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FLAME SEAL PRODUCTS, INC.
4025 Willowbend Blvd. # 310, Houston, Texas, 77025 USA, (713) 668
4291 office, (713) 668 1724 fax, Website: www.flameseal. com
Email: flameseal@flameseal.com |