BOULDER CITY, Nev., Dec. 21, 2010 /PRNewswire/ -- Amerityre Corporation, (OTC Bulletin Board :AMTY ) a leading manufacturer of polyurethane flat proof tires, today announced that Amerityre Corporation has developed a NEW innovative high performance material formulation for the forklift tire industry. The NEW urethane based material "KRYON" is designed to carry today's heavy material handling loads in high duty cycle forklift applications.
The industrial tire market globally is about 1 billion dollars. Amerityre has plans to capture a substantial piece of the North American market estimated to be $270 million within the next several years.
Tim Ryan, Amerityre's new Chairman, has said, "This is the newest breakthrough in the forklift tire industry in over 100 years! The market is right for a new product that will outperform current rubber products in the market place today. The Amerityre Forklift tires are made with a special formulation we call Kryon®."
"Independent lab testing and field testing has been ongoing for over one year with great success," said Mike Kapral, Amerityre's President/CEO. "Tires were placed in specific high load and high cycle applications where the tires can get a real world workout."
Amerityre will offer approximately 30 of the most popular sizes of press-on tires with plans to expand the line-up over the next 18 months. Amerityre has plans to design and produce a line of pneumatic shaped solid tires for forklift as well.
Amerityre is selling press-on tires now through a limited testing/distribution program. We have an increasing demand for the product everyday as the word on the outstanding performance of the tire reaches customers.
For more information on Amerityre, visit its website at www.amerityre.com.
This release may contain statements that are forward-looking. Such statements, including those related to the prospects for and/or the benefits of Amerityre's polyurethane fork-lift tire business are made based upon current expectations that are subject to risks and uncertainties. Such risks and uncertainties include the factors discussed in our Annual Report on Form 10-K for the year ended June 30, 2010, as well as Forms 10-Q and other filings with the Securities and Exchange Commission. Amerityre does not undertake to update forward-looking statements in this news release to reflect actual results of and changes in assumptions or changes in other factors affecting such forward looking information.
SOURCE Amerityre Corporation