Press Releases
Abakan adds Hong Kong based investor as Advisor, boosting focus on overseas markets
April 19, 2011
MIAMI, FLORIDA -- Abakan Inc. (OTCQB "ABKI") ("Abakan") is pleased to welcome James Rodriguez de Castro to its Board of Advisors. A highly-experienced international trader and businessman, de Castro’s far-reaching investments have also connected him with an extensive network of operators in Asian oil and gas logistics, steel treatment and fabrication. His appointment marks an important step in Abakan’s work to bring its groundbreaking anti-corrosion and anti-wear technologies to Far East markets.
“James is a well-known trader and investor with a profound understanding of Asia, especially within the sectors Abakan is targeting. We are aggressively pursuing international expansion, and having someone of his caliber join as an advisor will greatly enhance these efforts,” said Abakan CEO Robert Miller. “It also demonstrates how much promise highly-experienced executives see in Abakan. We expect James to lead our push into the Far East, with him being involved in the management of a planned subsidiary in the region.”
Mr. de Castro’s extensive professional background includes 14 years spent with Merrill Lynch based in Japan and Hong Kong. His numerous senior executive roles there included Head of Global Markets, New Initiatives and Advisory, Pacific Rim; Head of Trading, Equity Derivatives, CBs and Index Arbitrage, Asia; and Head Trader, Japanese Equity Derivatives. His experience in the oil and gas sector began with Bankers Trust during the 1992 Gulf War. He remains a very active investor in this sector in Asia, and maintains active interests in mining and offshore equipment rental.
“I am very excited for the opportunity to participate in and help shape Abakan’s success in the region,” de Castro said. “Hydrocarbons today are being found in deeper and more adverse environments, where plain steel pipe will not suffice. Abakan’s experienced team of metallurgists and technical personnel, and its rapidly developing product suite, are ideally suited to meet the increasingly more technical and challenging needs of the industry in a faster and more cost effective way than previous approaches.”
About Abakan Inc.
Abakan Inc. is a publicly traded company that invests in companies that have developed transformational technologies on the cusp of commercial applications. Miami based, Abakan is the largest shareholder in Powdermet and MesoCoat, each of which is an Ohio based nanotechnology material science company involved in technology development that has received numerous awards and grants. Powdermet is focused on metal formulations as well as advanced energy management solutions while MesoCoat is focused on the development of advanced coating solutions. Powdermet has won over 80 government-sponsored Phase 1, 2 and 3 grant programs since 1996 and MesoCoat is the recipient of three prestigious R&D 100 awards, a Technology Innovation Program Award (TIP) for 100 year life coatings by the National Institute of Standards and Technology (NIST), and the NorTech Innovation Award for high performance environmentally friendly coating materials.
Forward-Looking Statements
A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including technological obsolescence, market acceptance of future products, competitive market conditions, and the sufficiency of capital resources. The actual results Abakan may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Abakan encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K and Form 10-Q. Abakan’s public filings may be viewed at www.sec.gov.
Abakan Inc.
www.abakaninc.com
Robert Miller, Chief Executive Officer
Phone: (786) 206-5368
Email: [email protected]