Composite Technology Announces Manufacturing Source for ACCC Conductors in the Middle East
Composite Technology Announces Manufacturing Source for ACCC Conductors in the
Middle East
Midal Cables Limited, a leading Middle Eastern conductor manufacturer, to provide
additional manufacturing capacity for ACCC conductors
IRVINE, Calif., May 21, 2007 /PRNewswire-FirstCall via COMTEX/ -- Composite
Technology Corporation (CTC) (CPTC) is pleased to announce that Midal Cables
Limited (Midal) has become a qualified stranding source for ACCC conductor and
has already completed over 140 kilometers of commercial shipments. Midal, which
is located in the Kingdom of Bahrain, will continue to provide CTC's subsidiary,
CTC Cable Corporation, with aluminum wire stranding services to meet its
customers' increasing demand for ACCC conductors.
"It is also anticipated that Midal will begin selling ACCC conductors directly to
its customers in a defined region using ACCC core manufactured by the CTC Cable
Corporation," said Dominic Majendie, VP International Marketing.
"We believe that ACCC conductors are a significant improvement over other high
temperature conductors offered in the region," commented the Marketing Manager
for Midal. "Midal have already begun the process of pre-qualifying the ACCC
conductors with our customers and an intensive program of marketing across our
region."
Midal joins General Cable Corporation in North America, and Lamifil n.v. in
Europe, as qualified stranding sources for CTC's ACCC conductor. "Midal has
worked very hard to complete the qualification process and to expand their
capabilities for production volumes," said Marvin Sepe, CTC Cable's President.
"The completion of the CTC qualification protocols has enabled Midal to produce
and ship ACCC conductor for use in China this month," Mr. Sepe added.
Midal, with a presence through out the Middle East and with sales world wide
including in India, the Far East and Europe, provides valuable manufacturing
resources for the Middle East region where the unique attributes of ACCC
conductor are especially valuable. The severe climate of the Middle East and
other high temperature regions that Midal serves puts a great strain on already
overloaded electrical grids. The ACCC conductor's thermal stability allows it to
operate under high operating temperatures without causing line sag and its
improved efficiency greatly reduces line losses.
About CTC:
Composite Technology Corporation, based in Irvine, California, USA develops,
manufactures and sells high performance electrical transmission and renewable
energy generation products through its subsidiaries:
* CTC Cable Corporation produces composite rod for use in its proprietary
ACCC (aluminum conductor composite core). ACCC conductors virtually
eliminate the sag in power lines caused by high current and high line
temperatures. ACCC conductors also reduce electricity line losses, and
have demonstrated significant savings in capital and operating expenses
when substituted for other conductors. ACCC conductors enable grid
operators to reduce blackouts and brownouts, providing a 'reserve
electrical capacity' by operating at higher temperatures. ACCC
conductors are an innovative economical solution for reconductoring
power lines, constructing new lines and crossing large spans. ACCC
composite rod is delivered to qualified conductor manufacturers
worldwide for local ACCC conductor production and resale into local
markets.
* DeWind Inc., produces sells, and licenses the DeWind series of wind
energy turbines including the 50Hz D8 rated at 2 megawatts (MW) and the
50Hz D6 rated at 1.25 MW, both noted for their reliability. In 2007, the
first novel D8.2 turbines rated at 2 MW are planned to be delivered to
North American customers from assembly operations at TECO Westinghouse
Motor Company in Texas. The D8.2 utilizes the advanced WinDrive(R)
hydrodynamic torque converter developed by Voith AG with a synchronous
generator that is able to connect directly to the grid at high voltage
without the use of power conversion electronics. The DeWind D8.2 will be
available in both a 60Hz and 50Hz version.
For further information visit our websites: compositetechcorp.com and
eunrg.com
For Investor Relations Contact: James Carswell, +1-949-428-8500
About Midal Cables Limited:
Midal Cables Limited was founded in 1977 to manufacture aluminum rod and overhead
conductors. Midal supplies the world market with rod cast from molten aluminum
delivered direct from the Aluminum Bahrain (Alba) Smelter adjacent to its plant.
The aluminum is super pure which allows Midal to cast an exceptionally high
conductivity rod. Midal's EC grade and 6201 alloy rods are sold around the world
as well as being used "in-house" to manufacture a full range of overhead
conductors and aluminum wires. Midal also supplies rods and wires of various
mechanical alloys. The company is dedicated to making a quality product to all
international standards and specifications. It has continued a policy of
investment in the most up-to-date technology in its plant and puts great emphasis
on work force training to ensure the technical excellence of the products it
manufactures.
For further information visit midalcable.com
This press release may contain forward-looking statements, as defined in the
Securities Reform Act of 1995 (the "Reform Act"). The safe harbor for
forward-looking statements provided to companies by the Reform Act does not apply
to Composite Technology Corporation (Company). However, actual events or results
may differ from the Company's expectations on a negative or positive basis and
are subject to a number of known and unknown risks and uncertainties including,
but not limited to, competition with larger companies, development of and demand
for a new technology, risks associated with a startup company, the ability of the
company to convert quotations and framework agreements into firm orders, our
customers' fulfillment of payment obligations under the respective supply
agreement, our ability to deliver reliable turbines on a timely basis, general
economic conditions, the availability of funds for capital expenditure by
customers, availability of timely financing, cash flow, securing sufficient
quantities of essential raw materials, timely delivery by suppliers, ability to
produce the turbines and acquire its components, ability to maintain quality
control, collection-related and currency risks from international transactions,
the successful outcome of joint venture negotiations, or the Company's ability to
manage growth. Other risk factors attributable to the Company's business may
affect the actual results achieved by the Company including those that are found
in the Company's Annual Report filed with the SEC on Form 10-K for fiscal year
ended September 30, 2006 and subsequent Quarterly Reports on Form 10-Q and
subsequent Current Reports filed on Form 8-K that will be included with or prior
to the filing of the Company's next Quarterly or Annual Report.
SOURCE Composite Technology Corporation
investors, James Carswell, +1-949-428-8500, for Composite Technology Corporation
compositetechcorp.com |
