Integral Technologies, Inc. (OTC-BB:ITKG) (“Integral”), an emerging light-weighting leader and its wholly owned subsidiary ElectriPlast Corp ., announced the modification of their license agreement dated June 21, 2013, with Hanwha Advanced Materials (“Hanwha”), formerly Hanwha L&C, due to the sale of certain non-automotive related assets, including its former name Hanwha L&C, to Morgan Stanley Private Equity.
The sale continues Hanwha’s nearly decade long transition to advanced materials and electronics components primarily in the automotive industry.
Hanwha has stated that it will focus on auto parts, which account for 75 percent of sales in the high-tech materials sector, electronic components and solar power materials. Hanwha acquired U.S. auto parts materials producer Azdel in 2007 and has been supplying products to global automakers. Hanwha Azdel’s plant in Lynchburg, Virginia, is currently undergoing a $21.3 million expansion; and another unit in Opelika, Alabama, is upgrading its production capacity.
Integral will continue to grant Hanwha the exclusive rights to sell, distribute and manufacture Integral’s patented line of conductive plastics, ElectriPlast®, in South Korea, as well as non-exclusive sales and distribution rights to ElectriPlast® for Japan, Taiwan and China.
Hanwha’s new website can be found at www.hwam.co.kr.
About Integral Technologies, Inc.
(ITKG) (“Integral”), and wholly owned subsidiary ElectriPlast Corp, engage in the discovery, development, and commercialization of electrically conductive hybrid plastics used primarily as raw materials in the production of industrial, commercial and consumer products and services worldwide. Its core material, ElectriPlast®, is a non-corrosive, electrically conductive resin-based material whose properties allow it to be molded into any of the infinite shapes and sizes associated with plastics, rubbers and other polymers while reducing component weight by 40 to 60%. Integral is a leader in conductive hybrid plastics with a broad Intellectual Property portfolio referencing its ElectriPlast technology. Applications for ElectriPlast include: Shielding Wire, Power Electronics, Connectors, and Cables; Shielding, Conduction, Batteries, Semiconductors, Heated Elements, Sensors, Antennas, Medical Devices, Consumer Electronics and Acoustics, Fuses, Capacitors, Resistors, RFID, Bus bars and Terminals.