COLUMBUS, OH–(Marketwire-November 29, 2010)-SCI Engineered Materials, Inc. (“SCI”) (OTCBB: SCIA) develops and commercializes technology and manufactures ceramics and metals developed applications for the industrial physical deposition tukahduttanut. The company today announced it has received from the Ohio State agencies of the two final approval for a period of seven years from the date of entry into the European Investment Bank granted loans totalling approximately $ 2.1 million in the land of the rising sun: the growth of the market in the SCI further.
Two loans are related to each other and are $ 0.7 million 166 direct Loan Ohio Development Department (“ODOD”) and 1.4 million dollar Ohio Air Quality Development Authority (“OAQDA”) as part of a direct Loan to 166 Advanced Energy and can therefore, by reason of the work.Each company independently examined the applications of the loan approval process as part of the loan, the interest rate shall be that applied by each of the parties to the concentration of 3%.
SCI also contributes to approximately $ 0.9 million in capital to achieve its 3.0 million dollars of capital requirements on a transparent conductive oxide are forecasted products manufacture expansion to 20 months during the project.Nine months ended 30. September 2010, the company generated positive cash flow of approximately $ 0.5 million and was about 1.5 million dollars in cash to the same day.
These funds are used to acquire more manufacturing operations, the estimated total value for the scale of the SCI sales growth in the land of the rising sun, in order to satisfy the customers.As a result, the company expects to triple its production facilities and its current workforce of nearly 26 employees in the next three years.
Dan Rooney, Chairman, President and Chief Executive Officer, commented, “we want to thank ODOD and approving loans OAQDA, which included a broad and can therefore, by reason of lack of diligence on the part of the process.Loans are an integral part of our capital plan for 2011 and 2012, and gives us the flexibility of the anticipated demand for increased economic innovative open leading oxide products., we are actively involved in several of their applications for tests on the product in the land of the rising sun with clients and look forward to our growth strategy by accelerating, as we invest in our funds concerned and any other product on the trials shall be converted into orders. “
SCI Engineered Materials, Inc. manufactures the ceramics and metals for advanced applications, such as photonics, thin film solar, thin film batteries and Semiconductors. SCI Engineered Materials is a global supplier of materials, with customers in more than 40 countries.   for more information, visit http://www.sciengineeredmaterials.com.