finally a shipment...
Composite Technology Ships ACCC Order to China
Tuesday April 11, 8:00 am ET
ACCC to Bolster Grid Reliability and Enhance Power Flows in China
IRVINE, Calif., April 11 /PRNewswire-FirstCall/ -- Composite Technology Corporation (CTC) (OTC Bulletin Board: CPTC - News) announced today that the second half of a $1.1 million order placed in January by one of China's leading cable manufacturers, Jiangsu Far East Group Limited, was shipped Sunday from the Port of Long Beach, California by CTC.
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These ACCC conductors are destined for two high voltage transmission projects in China. The order placed by Jiangsu Far East Group for delivery to Xiamen and Fuzhou Power Bureaus is comprised of 30 kilometers of CTC's 1020 kcmil ACCC Drake conductor and 30 kilometers of CTC's 816 kcmil ACCC Grosbeak conductor, along with associated hardware. One of the conductors will be deployed for a new transmission line; and the other will be used as a replacement and ampacity upgrade to an existing line. The initial shipment is scheduled for installation in approximately two weeks with the remainder to be operational later in the month of May.
Upon successful completion, Fujian Province has indicated that it intends to purchase ACCC for their new transmission corridors as well as reconductor replacements, according to Mr. Jiang Xi Pei, Chairman and CEO of Jiangsu Far East Group Limited. CTC has responded to this and other market signals by increasing its production capacity with new pultrusion machines. These machines have been designed and built in-house, which effectively doubles the company's production capacity. CTC has also completed a comprehensive review of its manufacturing systems and operational protocols with an eye toward ISO (International Organization for Standardization) certification later in the year.
"Now that our ACCC conductor has been shipped for these projects, we look forward to working with our Chinese colleagues to further provide the region with the most cost effective grid solution to address their rapidly expanding market," said Benton Wilcoxon, CEO of Composite Technology Corporation. "With our first commercial order to China now complete, we anticipate rapid growth once our ACCC lines are energized." |
