Megola Inc. (MGON) announced today, after market closed, that it has signed a Memorandum of Understanding with High Point Enterprises Co Ltd of the People’s Republic of China.
Megola’s Fire Inhibitor Coating will be licensing to High Point Enterprises for the manufacturing and distribution.
Joel Gardner , CEO of Megola Inc., commented:
“It is not a secret that a vast majority of products are being imported into North America and elsewhere from the Asian continent. These imported goods need to meet specific North America and European fire standards which our environmentally friendly fire inhibitor can offer and out perform conventional harmful fire retardants. Having the opportunity now to treat these products at the manufacturing sites in China and to have a company in Asia assisting on the manufacturing and distribution can only be a positive outcome for Megola ‘s future sales growth. Megola will continue blending the Fire Inhibitor Coating in North America for specific target industries we have been working on such as the building supply industries.”
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Megola Inc. is committed to providing environmental solutions through advanced technology and solving environmental problems using the most environmentally sustainable means possible that in the long term will have positive impact on company budgets and the environment. Megola Inc. is a North American manufacturer and supplier of Fire Inhibitor product lines and the exclusive world-wide distributor of the ScaleGuard series of physical water treatment equipment. Megola Inc. has created distribution networks throughout the world to integrate our products into wide scale usage.
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