Northern Technologies International Corporation Announces Agreement With GFCS LLC

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Northern Technologies International Corporation Announces Agreement With GFCS LLC

February 23, 2010 at 11:31 AM EST

MINNEAPOLIS, Feb 23, 2010 (GlobeNewswire via COMTEX News Network) -- Northern Technologies International Corporation (Nasdaq:NTIC), whose core business centers around proprietary Zerust(R) rust and corrosion inhibiting products and services, announced today that it has engaged GF Consulting Services LLC, a member of GF International Group (www.gfint.com), to provide sales and marketing services for the Company's oil and gas industry specific corrosion prevention technologies with a particular focus on the markets in Mexico and Spain.

"NTIC's cooperation with GF will allow us to provide efficient and cost effective Zerust(R) solutions for certain infrastructure related corrosion problems in two additional key markets. Mexico, for example, continues to be one of the top three suppliers of oil to the United States and operates more than 200 offshore platforms. Couple this with the pressure to better maintain and utilize existing infrastructure, especially in the area of oil storage, and both countries represent significant potential opportunities for us," said G. Patrick Lynch, NTIC's President and CEO.

"Our partnership with NTIC for the Zerust(R) line of corrosion management solutions in Mexico and Spain helps us fill a critical niche in key technology solutions that are in demand at companies like PEMEX and Repsol," said Tim Kingsmill, Director of GFCS. "Besides the Zerust(R) solutions, NTIC's excellent technical support and ability to quickly meet customer needs and to demonstrate 'value' were critical in our decision to enter into this partnership."

About GFCS LLC

GF Consulting Services LLC (GFCS) was conceived as a specialized consulting firm for cross border opportunities. Their core consulting areas include lobbying, communications, joint ventures, operations, project management, representations and governmental affairs. GFCS bases their professional craft on a deep knowledge of the Mexican and Spanish markets, from which they create strategies to have a bearing on public and private initiatives. GFCS provides professional services and their specialization and success have granted them access to key institutions and individuals allowing them to effectively manage close relationships that benefit their clients.

About Northern Technologies International Corporation

Northern Technologies International Corporation develops and markets proprietary environmentally beneficial products and technical services either directly or via a network of joint ventures and independent distributors in over 50 countries. NTIC's primary business is corrosion prevention. NTIC has been selling its proprietary Zerust(R) and Excor(R) rust and corrosion inhibiting products and services to the automotive, oil & gas, electronics, electrical, mechanical, military and retail consumer markets, for over 30 years. NTIC also offers worldwide on-site technical consulting for rust and corrosion issues. NTIC's technical service consultants work directly with the end users of NTIC's products to analyze their specific needs and develop systems to meet their technical requirements.

The Northern Technologies International Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5481

Forward-Looking Statements

Statements contained in this press release that are not historical information are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. Such statements include our expectations regarding NTIC's oil and gas industry specific corrosion prevention technologies, the market for such technologies, NTIC's relationship with GF Consulting Services LLC and other statements that can be identified by words such as "expect," "intend," "continue," "anticipate," "estimate," "potential," "will," "would," or words of similar meaning and any other statements that are not historical facts. Such forward-looking statements are based upon the current beliefs and expectations of NTIC's management and are inherently subject to risks and uncertainties that could cause actual results to differ materially from those projected or implied. Such potential risks and uncertainties include, but are not limited to, in no particular order: NTIC's dependence on the success of its joint ventures and technical fees and dividend distributions that NTIC receives from them; NTIC's relationships with its joint ventures and its ability to maintain those relationships; risks associated with NTIC's international operations; exposure to fluctuations in foreign currency exchange rates; the current financial crises affecting the U.S. and worldwide banking system and financial markets; contraction of the U.S. and worldwide economies, including in particular the U.S. automotive industry; the level of growth in NTIC's markets; NTIC's investments in research and development efforts; acceptance of existing and new products; increased competition; the success of NTIC's new businesses; the costs and effects of complying with changes in tax, fiscal, government and other regulatory policies, including rules relating to environmental, health and safety matters; and NTIC's reliance on its intellectual property rights and the absence of infringement of the intellectual property rights of others. More detailed information on these and additional factors which could affect NTIC's operating and financial results is described in the company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent quarterly report on Form 10-Q. NTIC urges all interested parties to read these reports to gain a better understanding of the many business and other risks that the company faces. Additionally, NTIC undertakes no obligation to publicly release the results of any revisions to these forward-looking statements, which may be made to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Northern Technologies International Corporation

CONTACT:  Northern Technologies International Corporation
Investor and Media Contact:
Matthew Wolsfeld, CFO
(763) 225-6600

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