The Company Is Well-Positioned for Remainder of 2021
MASSILLON, OHIO, US, September 15, 2021 /EINPresswire.com/ — Tesla NanoCoatings prepared for a strong rebound in 2021. The work done in the last quarter of 2020 positioned the company to take advantage of a rebound in oil prices which began 2021 in $70-$75 price range. Teslan coatings with their carbon nanotechnology and 2X1 wet on wet application received strong acceptance by Big Oil companies as they struggled to meet sizable maintenance backlogs. The coatings were the ideal solution for this considerable maintenance challenge.
To further address maintenance backlogs, Tesla NanoCoatings launched a new product, NANO Non-Skid, TESLAN 1105, a revolutionary product that contributes to safer workplaces. The company is committed to being safety partners with its Big Oil company customers. NANO Non-Skid prevents slip and falls on offshore decks and other wet surfaces. Early market response has been very favorable.
Distribution gains also contributed to Tesla NanoCoatings success in the first half of 2021. Its distribution expanded significantly with new distribution in the Middle East, Africa and Asia Pacific. “Global oil companies recognize that our superior carbon nanotechnology separates Tesla NanoCoatings from other coating companies,” commented Malcolm Kerr, Vice President of Global Sales.
Patent awards were another positive development the first six-months of 2021. Tesla NanoCoatings was also the recipient of three patent awards over the last six months. The patents were U.S., Mexican and Malaysian.
Its strong inventory position enabled Teslan NanoCoatings to meet customer needs throughout the first six-months. “Our inventory efforts over the last year paid off,” stated Todd Hawkins, President and CEO, Tesla NanoCoatings. From this position, the company was able to meet customer needs and realize good sales growth.
Tesla NanoCoatings in the second half of the year expects to reap the benefits of many of the actions taken the first six months of 2021.
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