Industrial Nanotech, Inc. has entered into an agreement with Anticorrosion Protective Systems Sdn Bhd (APS) to serve as exclusive distributor in Malaysia for the company's patented Nansulate product line of thermal insulation and protective coatings. APS has over three decades of experience in managing and controlling corrosion in some of the harshest and most critical production and processing environments in the world, and provide their products and services to all related industries and especially utilities, water, and oil and gas sectors. One of their first undertakings is a trial project with Fortune Global 500 company, Petronas, the national oil and gas company of Malaysia.
"The relationship with APS as our exclusive distributor in Malaysia will strengthen Nansulate's presence in many manufacturing sectors, and particularly oil and gas," said Francesca Crolley, vice president of business development for Industrial Nanotech, Inc. "Their company has been working with Petronas and has secured an offshore trial for our Nansulate Translucent PT coating for use to control corrosion under insulation (CUI) by providing the combined benefits of thermal insulation and corrosion prevention."
This is the same product that has been used by Galp Energia for two large ongoing projects at their refinery in Portugal over an oil pipeline and fuel oil storage tanks. Nansulate coatings have been continuing to gain ground in this industry sector and it continues to develop new relationships with companies such as EcoPetrol in Colombia.
Malaysia has progressed from being a producer of raw materials, such as tin and rubber, in the 1970s to being a multi-sector economy that grew on average 7.3 percent between 1985 and 1995. After the Asian financial crisis of 1997-1998 it has continued to post solid growth rates, averaging 5.5 percent per year from 2000 - 2008. In 2010, Malaysia launched the New Economic Model (NEM) which aims for the country to reach high income status by 2020.