DETROIT, Aug. 12, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp. (OTCQB:CTLE) is pleased to announce today the Company has signed a Non-Disclosure Agreement (NDA) with GMI of Mexico.
The NDA will allow GMI access to Nano Labs' proprietary nano coatings technologies for testing and product integration purposes by its wholly owned subsidiary CENTRO DE INNOVACIÓN E INVESTIGACIÓN DE SISTEMAS PARA LA EDIFICACIÓNY ENERGÍAS RENOVABLES, S.A.P.I. DE C.V. .
GMI's interest in Nano Labs' nano coatings products lie in the areas of insulating fire retardant, waterproof protection, and the proprietary anti-graffiti, self-cleaning paint."We are delighted to begin working together with GMI," states Mr. Chavarria, President of Nano Labs. "They are a leading provider of building turnkey projects in the residential, educational and Industrial sectors" with clients such as Wal-Mart, AeroMexico and Delta. Concurrent to GMI's review and testing of the products, the companies are working together to establish a Joint Venture Agreement which would outline the strategic commercialization of these product lines. The Joint Venture would be designed to drive sales for both companies allowing Nano labs to leverage GMI's existing infrastructure, clientele, and distribution network. About GMI Grupo GMI Group is a leader in Mexico and Latin America providing infrastructure development for the educational, commercial, industrial and residential building markets. GMI is a Mexican consortium with companies that for more than 50 years has worked together and established themselves as a leading provider of building technology, products and services. With modern industrial equipment and machinery and the latest technology, GMI applies the most advanced production processes, achieving productivity and quality of the highest levels. GMI's Research and Development department evaluates new products in addition to prototyping building models. GMI is strategically located in the states of Querétaro, Jalisco, Nuevo Leon, Oaxaca and Chiapas, allowing easy access to major distribution centers in Mexico. For more information please visit http://www.gmi.com.mx/ . About The Paint Industry in Mexico According to the National Association of Manufacturers of Paints and Inks (ANAFAPYT), Mexico is, after Brazil, the largest producer of paints and coatings in Latin America, with a reputation for high-end products and technology, and internationally recognized standards.