Pacific Safety Products Inc. Announces R&D Agreement With Nanophase
Technologies Corporation For Advanced Ballistic Material . . .
KELOWNA, B.C., May 15 /CNW-PRN/ - Mr. Bradley Field,
President and General Manager of Kelowna based PSP Inc.
(ASE:PSP) has announced that they have reached a
groundbreaking 3 year cooperative research and development
agreement with Nanophase Technologies Corporation
(Nasdaq:NANX:) to develop nanocrystalline ceramics for use in
ballistic applications.
Nanophase Technologies, based in Burr Ridge, Illinois, is the only
company in the world that is able to manufacture significant
quantities of this ceramic, which is expected to improve ballistic
protection at a reduced weight.
''The potential for this product is massive, with the world armour
market valued at hundreds of millions of dollars'' says Field, ''and
this technology could provide us with a huge proprietary
advantage in supplying this market''.
PSP's research program will be supported with a grant of
$250,000 from the Canadian Governments Department of
Defense during the first year, which is indicative of the high level of
interest the Military has in development of improved ballistic
materials.
SOURCE: Pacific Safety Products Inc.
/CONTACT: Mr. Bradley Field, President and General Manager
or Mr. Roger
Soar, Vice-President Product Development (250) 491-0911, fax
(250) 491-0930,
email bfield(at)pacsafety.com, Web Site www.pacsafety.com/
(PSP.) |
