Industry News

FFI Announces Asia Expansion

Published on 2006-08-16. Author : SpecialChem

INDIANAPOLIS, INDIANA -- Fortune Industries, Inc. (AMEX:FFI) announces that Nor-Cote International, Inc. ("Nor-Cote"), a wholly-owned subsidiary, is expanding operations in China and Singapore. Nor-Cote is a manufacturer of ultraviolet ("UV") curable screen printing inks.

Expansion efforts include additional production and research and development capabilities at the Singapore facility, including printing of UV inks, color-matching and substrate testing capabilities. The Company is planning on relocating to a new facility in the upcoming months, and new employment opportunities will be created when additional office space becomes available. Mike Bain, Managing Director for Europe and Asia will oversee expansion efforts.

The Company also has entered into lease agreements at two facilities in China. Located in Shenzhen (adjacent to Hong Kong) and GuangDong, these facilities will serve as sales offices for the expanding Chinese marketplace for UV ink technologies. The facilities offer color matching, UV curing lamps, testing and trial facilities. Nor-Cote has partnered with Sam Wo International, a Chinese manufacturing firm in its expansion in GuangDong.

"The expansion of our Singapore office and new China locations, combined with our current facilities in Crawfordsville, Indiana; Atlanta, Georgia; and Eastleigh Hampshire, United Kingdom give our customers local support in the geographic areas where they are producing their products. While we have 22 distributor agreements worldwide, we feel that additional local support is needed as the UV ink technology solutions utilized for global operations become more extensive and important to the success of our customer's worldwide strategies," stated John Fisbeck, CEO.

"We believe that the market conditions will shift consumption in Asia from solvent-based to UV ink applications over the next 36 months due to substantially faster processing speeds, energy savings, and its environmental-friendly impact. Our strategic advantages in membrane switch technology, spacer inks, and in-mold design provides significant value to businesses and we believe we are positioned for significant future growth opportunities," he also stated.

Last week Fortune Industries announced that Nor-Cote entered into a licensing agreement for its products with Mino International, Ltd. a Japanese manufacturer in the field of conventional solvent based screen printing inks.

Nor-Cote's products are used for flat-screen and, rotary-screen printing on many types of plastics, metals, and other substrates compatible with the UV curing process. Typical applications are plastic sheets, loose-leaf binders, bottles & containers, CD/DVD disks, rotary-screen printed labels, POP, decal, membrane switch overlays and electroluminescent lamps.

About Fortune Industries, Inc.:

Fortune Industries provides technology solutions to businesses categorized in three operating segments, Wireless Infrastructure, Ultraviolet Technologies & Electronics Integration, and Human Resource Solutions. The Wireless Infrastructure segment provides wireless turnkey solutions directly to carriers in 20 states and provides other specialty infrastructure services. The Ultraviolet (UV) Technologies and Electronics Integration segment provides worldwide state–of-the-art UV ink technology solutions and sales and installation of commercial electronics. The Human Resource Solutions segment provides professional employment organization (PEO) services to small and medium sized businesses with up to 1,000 employees in over 30 states including human resource consulting & management, employee assessment, training, and benefits administration. Fortune Industries is publicly traded on the American Stock Exchange under the symbol FFI.

This news release contains statements that constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. The words "expect," "estimate," "anticipate," "predict," "believe" and similar expressions and variations thereof are intended to identify forward-looking statements. These statements may appear in a number of places in this release and include statements regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things, trends affecting the Company's financial condition or results of operations. The readers of this report are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially. Factors that might cause or contribute to such differences, include, but are not limited to, the risks and uncertainties that are discussed under the heading "Management's Discussion and Analysis or Plan of Operations." The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers should carefully review the risk factors disclosed within Form 10-KSB for the year ended August 31, 2005 and other documents filed by the Company with the Securities and Exchange Commission.

Source: Fortune Industries, Inc.

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