SOURCE: Abakan Inc

May 27, 2015 08:00 ET

Abakan Incorporates MesoCoat de Mexico and Appoints Jose Maria Ribot as Its President and CEO

MIAMI, FL--(Marketwired - May 27, 2015) - Abakan Inc. (OTCQB: ABKI) ("Abakan"), an emerging leader in the advanced coatings and metal formulations markets, proudly announces that its subsidiary, MesoCoat, Inc., has incorporated a wholly owned subsidiary in Mexico, MesoCoat de Mexico S.A. de C.V., and has appointed Mr. Jose Maria Ribot Barroso as its President and CEO. In September 2013, Metallurgic Solutions, SA de CV (MetalSol), where Mr. Ribot serves as the CEO, signed an exclusive sales agreement with MesoCoat, Inc. for the sale and distribution of MesoCoat's products in Mexico and Central America. Coincident with Mr. Ribot's appointment as CEO of MesoCoat de Mexico, MesoCoat terminated its sales agency agreement with MetalSol.

"I have been involved with MesoCoat and Abakan for close to two years now and I can confidently state that MesoCoat has the best-in-class products. I have been working with the some of the largest oil, mining, and steel companies in Mexico to drive the adoption and sale of MesoCoat's products, and the feedback has been overwhelmingly positive. We expect to begin commercial sales shortly, and, if product testing is an important reference point, then I am certain that we are going to be successful in Mexico. I am pleased that Abakan has entrusted me with the responsibilities of President and CEO for MesoCoat de Mexico, and I am confident that we should be able to deliver good results in Mexico in the near future," said Mr. Ribot.

"Over the past 18 months, Mr. Ribot has secured test and trial orders from several of the largest companies in Mexico, worked with the state and federal authorities in order to secure commitments for financial and other incentives and has primed us for a high growth trajectory. We are extremely pleased that Mr. Ribot has accepted our offer to join MesoCoat de Mexico as the President and CEO," said Abakan CEO, Mr. Robert Miller.

Mr. Ribot began his professional life working for boutique funds and financial institutions covering some of the most important public companies in the construction and food sectors in Mexico. After a few years in the financial sector, he started working in his family's business, Lori-Der S.A. de C.V., a leading company in the Graphic Arts Industry and the largest company of its kind globally. Mr. Ribot served as Deputy Director at Lori-Der for more than 4 years, managing over 200 employees and increasing the product portfolio of the company with new developments and other exclusive products. Mr. Ribot earned a University Degree in International Business in 2007 and completed the Advanced Management Program from Instituto de Empresa in Madrid in 2012. He has also completed programs in Business Negotiations, from Boston University, and Leadership, from the Universidad Anahuac in Mexico City.

About Abakan, Inc.
Abakan develops, manufactures and markets advanced nano-composite materials, innovative fabricated metal products and highly engineered metal composites for applications in the oil and gas, petrochemical, mining, aerospace and defense, energy, infrastructure and processing industries. Abakan's technology portfolio currently includes high-speed, large-area metal cladding technology, and long-life nano-composite anti-corrosion and wear coating materials. Abakan's products have demonstrated longer life, higher productivity and extremely high strength-to-weight ratios compared to competing technologies. The Abakan group of companies has been honored by The Wall Street Journal as the #1 Manufacturing Innovation across the globe; by Pipeline Industries Guild as the Top Subsea Pipeline Technology; by Forbes as the #1 Most Promising Material Science Company in the United States; by American Metals Market with the Steel Excellence Award; by Inc. 500 as one of the Fastest Growing Manufacturing Company in the U.S.; and has received numerous other trade, industry and technology awards including five R&D 100 Awards and a Technology Innovation Award from the National Institute of Standards and Technology. Over $50 million has been invested in product development and testing by federal agencies, national labs and our companies in order to deliver products that offer improved performance over the current state of art. Abakan has introduced its PComP™ W for metal asset protection and life extension to the oil and gas and mining industries, and is currently focused on the scale-up and commercialization of its highly disruptive metal cladding products for the oil and gas, oil sands, and mining industries. Abakan currently operates from multiple locations in United States and in Canada.

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, Form 10-Q and 8-K. Abakan's public filings may be viewed at www.sec.gov.

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