Business
NanoTech Entertainment (NTEK) Partners With EB2 Global Manufacturing
NanoTech Entertainment (NTEK) Partners With EB2 Global Manufacturing.
About this update from Nanotech Entertainment Inc
[{"type":"text","content":"\n\n\n\n\n\n\n\nNanoTech Entertainment (NTEK) Partners With EB2 Global Manufacturing\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nNanoTech Entertainment (NTEK) Partners With EB2 Global Manufacturing\n\nPartnership brings Manufacturing Partnership along with Sales Distribution & Distribution Network in Asia\n\nPR Newswire\n\nLAS VEGAS, Jan. 16, 2013\n\n\n\n\n\n\n\nLAS VEGAS, Jan. 16, 2013 /PRNewswire/ -- NANOTECH ENTERTAINMENT (PINKSHEETS: NTEK) today announced that after successful negotiations last week during the CES conference it has completed a long term partnership agreement with EB2 Global Manufacturing. The comprehensive agreement provides a multitude of benefits for both companies. Established in 1988 and located in the Guangdong Province, the most populated province in China, EB2 operates its own 50,000 ft2 manufacturing plant with over 250 employees. EB2 also has a distribution and sales network that covers all of Asia. \n\n\nEB2 will immediately begin production of NanoTech's consumer electronics and gaming products in January 2013 including the Mot-Ion Pinball Kit and MultiPin Digital Pinball Machine. NanoTech is anticipating a cost reduction of 40% or better over its current costs for its existing product line. \"We are very excited to work with the EB2 team in ramping up our production runs from the hundreds to the thousands while reducing our cost of good significantly,\" stated NanoTech CEO Jeffrey A. Foley. \"The EB2 facilities are state of the art and we have already had excellent dialog with their engineering team in reviewing our products and getting them ready for tooling and production.\" \n\n\nNanoTech will also receive the benefit of expanding its sales into the Asian market by leveraging the sales and distribution network already in place by EB2 for their own products. \"EB2 has a diversified portfolio of products ranging from consumer electronics to the biggest supply chain of Chinese white wine,\" noted Edward Norcott Jr, Vice President of EB2. \"We are lookin...