Nearly 6,000 tonnes of Canadian anticorrosion pigments in Chinese industrial paint - Ferrinov announces the signing of a five-year distribution agreement with Wonder Technology for the Chinese market



    MONTREAL, June 10 /CNW Telbec/ - The Canadian company Ferrinov Inc.,
which has achieved a major technological breakthrough in the production of
anticorrosion pigments, today announced that it has signed an exclusive
five-year agreement with Wonder Technology Co. Ltd. for the distribution of
some 6,000 tonnes of "green" pigments in the Chinese market. This agreement
will enable Ferrinov to expand its plant in Sorel-Tracy and create 20
additional jobs.
    "This initial distribution agreement in China marks a milestone in
Ferrinov's development," said company President Louis Archambault. "China
represents about 30% of the world market for pigments used in industrial
paint, estimated at 200,000 tonnes a year. This means that our growth outlook
is astonishing. Within two years, we will have to decide on whether to build a
plant in Asia."

    A $2-million investment

    To increase its production capacity and fulfil the orders it has
received, Ferrinov plans to invest $2 million in expanding its Sorel-Tracy
plant. The plant will then produce 1,200 tonnes of pigments annually, compared
with 200 tonnes now. Work is expected to be completed in August 2010, with the
number of employees rising from 10 to 30. Company employees include
specialists in inorganic chemistry, hydrometallurgy and organic chemistry.
    Ferrinov's anticorrosion pigments, advanced after 10 years of research
and development, mark a major technological breakthrough for many types of
high-value infrastructure. New patented technology provides for the production
of higher-performance anticorrosion pigments that are economically and
ecologically sounder as well as being compatible with all paint formulations.
This technology uses a raw material entirely different from what competitors
use in producing anticorrosion pigments. The quantity of anticorrosion
pigments used in paint generally bears a relation to the value of the assets
being protected.
    "Because their anticorrosion properties are superior to any other pigment
currently on the market, Ferrinov pigments allow for the production of much
longer-lasting paints," stated Wonder Technology President Francis Liu. "This
leads to considerably reduced labour costs, lower downtime of production
equipment and less frequent repainting of a vast array of infrastructure and
high-value equipment. Thanks to Ferrinov, we are meeting the needs of a great
number of our clients who were demanding a range of higher-performance
anticorrosion pigments. This is a valuable technological breakthrough that now
lets us provide the full range of anticorrosion pigments."

    An environmentally sound technology

    Taking a proactive environmental stance, Ferrinov has devised a
hydrometallurgical process to make pigments requiring only 15% of the energy
needed by conventional technologies. Their production helps reduce greenhouse
gases, with the manufacture of a tonne of Ferrinov pigments avoiding the
emission of 4.5 tonnes of greenhouses gases, compared with a similar quantity
of pigments produced by means of conventional technologies.
    The hydrometallurgical process developed by Ferrinov keeps substantial
volumes of steel plant dust away from landfill sites by converting it to
pigments. The process also avoids the mineral extraction and mining waste
management engendered by the traditional production of pigments. The
conventional pyrometallurgical technologies now on the market were developed
more than 100 years ago, in the late 19th century.

    About Ferrinov

    Ferrinov Inc., founded in 1998, has its head office in Montréal and its
plant in Sorel-Tracy, It owns a patented technology for the production of a
new type of active anticorrosion pigments. Ferrinov pigments are easy to
recognize, with a unique signature, and they are also patented. The company
currently employs 10 people at its Montréal head office and Sorel-Tracy plant.
For more details, visit the company's website at www.ferrinov.com.

    About Wonder Technology

    Wonder Technology Co. Ltd., founded in 2002, set up its head office in
the technology park in the Chinese city of Wuxi. The company is recognized in
particular for developing the Nacan(TM) series of anticorrosion pigments after
years of research and development. Nacan pigments received an ISO 9000
certification in 2003 and a Chinese national patent in 2007. Sales of the
Nacan range of anticorrosion pigments reached 8,775 tonnes in 2008 and should
surpass the 10,000-tonne mark in 2009. These pigments are distributed among
541 paint manufacturers in China. The company also sells its products through
distributors in Vietnam, Japan, Taiwan, Singapore, Malaysia, Indonesia,
Thailand and other countries in Southeast Asia. In China, its distribution
network consists of 12 sales offices and warehouses serving most of the
regions forming the anticorrosion pigment market. Wonder Technology has become
China's biggest producer and distributor of anticorrosion pigments.

    Photos and B-roll available upon request.




For further information:

For further information: Pierre Tessier, Optimum Public Relations, (514)
282-4724, pierre.tessier@cossette.com

Organization Profile

FERRINOV

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890