Integral Technologies, Inc. (OTCMKTS:ITKG) entered into a rally after it announced that its partner, Chang Rim Eng Inc. (Chang Rim) has successfully concluded the testing and development of a motor casing. The order belonged to one of its Asian automotive customer. Chang Rim is an Asian partner of Integral Technologies, which is a growing light-weighting leader.
Integral Technologies, Inc. (OTCMKTS:ITKG)’s Chang Rim confirmed that they have completed all the requirements and anticipate a significant order. Chang Rim’s President, Won-Hyun Kwon informed that they had received requests for modifications from their client last year. He said that such modifications necessitated the company to produce new samples and undertake additional testing so as to fulfill the validation process.
Kwon said that apart from motor casing and enclosure product, Chang Rim also pursued other forms of automotive shielding applications, which are not used in the industry. To move further in this direction, Chang Rim has planned to implement a manufacturing extrusion line, which will be used in developing new extrusion process for those applications that are currently not developed. Kwon elaborated that most of the partners associated with Chang Rim implement ElectriPlast through injection molding. But it has come to light that ElectriPlast could also be extruded. Integral Technologies, Inc. (OTCMKTS:ITKG) CEO Doug Bathauer said that implementation of extrusion will open a range of opportunities for other new applications, which could not be implemented through injection molding.
He informed that aside implementing extrusion line; Chang RIM will also work on multiple resins, which includes PVC, PET, and PC. Bathauer is excited for Chang Rim’s endeavor to innovate with ElectriPast. It is to be noted that Chang Rim is based out in South Korea and is a specialty molder, which works with plastic injection molded products for a number of industries. The stock of Integral Technologies, Inc. (OTCMKTS:ITKG) surged by nearly 9% to close at $0.810 during the last trading session.