LAS VEGAS, March 9, 2012 /PRNewswire/ -- Flameret, Inc. (OTCBB: FLRE) New York became the first state to ban the flame retardant chemical TCEP and many states are expected to follow. TDCP (another toxic flame retardant additive), also known as "chlorinated tris", was banned in the 1970's for use in children's sleepwear after the United States Consumer Product Safety Commission labeled the chemical as a probable cancer causing agent. However and at the outrage of many opponents to the harmful chemicals that are still on the market today, it is still legal to use TDCP in other products including most children's products. Many States are expected to follow New York's lead by banning the use of these harmful products in certain products and ultimately abolishing the use of these toxic flame retardant chemicals.
Flameret, Inc., a leading provider of flame retardant products to various industries not only enthusiastically approves of the latest legislation, but will continue to revise many of its revenue projections as much of its competition is eliminated as a result of this legislation.
Over the past year, Flameret has continued to forge key marketing and sales alliances throughout the world. As previously announced, the company had received an inquiry to test Flameret's fire retardant product on uniforms for the People's Liberation Army of China. Flameret has also received interest from Taiwan and also records many inquiries on a weekly basis from U.S.-based manufacturers that would like to incorporate Flameret's flame retardant products into their products.
Over the past 2 years, Flameret has continued to test its products to the most stringent toxicity as well as flammability standards and all tests to date have been successfully completed. The company has identified multiple vertical markets including textiles, consumer products including baby products, woods and metals (structural and coatings), oil and gas, cruise and marine, military, aviation and the forestry industries. The worldwide market for flame retardant products is a rapidly growing market well in excess of $1 billion dollars. The market is expected to reach $6 billion in revenues by 2014.
Christopher Glover, Chief Executive of Flameret commented, "We are exploring financing options and we remain committed to only accept financing terms that will immediately build shareholder value. We believe that all of the hard work that we have put in over the past 12 months has put us in an enviable position as we move closer to full scale production and sales."
"Over the last year, we have successfully completed all of our plans to introduce our line of products to manufacturers throughout the world. As legislation throughout the world continues to reduce the competition in the multi-billion dollar flame retardant market, we remain very excited about the opportunity to deliver excellent results to our shareholders in the coming months," concluded Christopher Glover.
Please follow the link below to view just some of the major media coverage about the movement to ban harmful flame retardant products in the market today.
Flameret, Inc. has developed fire retardant products to suit a wide range of applications. These products are marketed under the brand names; Flameret, Flamex, Ultra Flamex and Impex. Flameret™ products are patented and held in the name of United American Inc.
Flameret's numerous flame retardant products are applicable for the manufacturing of an array of textile applications that includes mattresses, bedding, furniture, and clothing. The Company has designed fire resistant textiles fire barriers for this US standard and other world markets. Our complete fire retardant product lines should compete favorably with other competitors, because Flameret's™ fire retardants are highly effective and non-toxic.
Flameret Fire Retardant and fire resistant applications will be sold to separate industries. These industries include the fire resistant textiles industry, the military and the energy extraction industry (oil fields), the aviation industry, and forestry services. The Company expects to manufacture and sell Flameret fire retardant products for the treatment of textiles lines at the production stage for various textile products. In the near future Flameret also plans to offer a complete line of fire extinguishing products.
The press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the Company's development program and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in development, testing, regulatory approval, production and marketing of the Company's products, the uncertainty of patent protection for the Company's intellectual property or trade secrets, and the Company's ability to obtain additional financing. Such statements are based on management's current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release.
SOURCE Flameret, Inc.