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Microcap & Penny Stocks : Composite Technology (CPTC) -- Ignore unavailable to you. Want to Upgrade?

To: Skywatcher who wrote (111)	1/31/2007 10:54:33 AM
From: caly	Read Replies (1) \| Respond to of 203

I think you need to say "pretty please" and maybe even with a cherry on top. It's trying, though. Composite Technology Signs Distribution Deal for China Wednesday January 31, 8:05 am ET Three Year Distribution Agreement Sets Minimum Purchases and Terms for Future Stranding of ACCC Core IRVINE, Calif., Jan. 31 /PRNewswire-FirstCall/ -- Composite Technology Corporation (CTC) (OTC Bulletin Board: CPTC - News) is pleased to announce that its subsidiary, CTC Cable Corporation has signed a long term distribution and manufacturing agreement with Far East Composite Technology Company, a subsidiary of Jiangsu New Far East Cable Corporation (Far East). The agreement takes effect immediately and includes two recently announced orders totaling 424 kilometers of ACCC conductor valued at approximately $7 Million. The non-returnable minimum quarterly distribution amounts for the first year are 600 kilometers per quarter, and escalate to 900 and 1200 kilometers per quarter in each succeeding year. Other terms include favorable progress payments, shipment within 100 days of order placement, and a defined path for Far East to become a qualified stranding source for ACCC in China within one year. More detailed information will be included in a form 8K that will be filed later. Marvin Sepe, President of CTC Cable, stated, "We are pleased to formalize this relationship with the Far East Group. Far East has believed in CTC's ACCC technology for a long time and has been instrumental in establishing CTC's market in China. By setting defined minimum ACCC purchases, typically representing approximately $10 million per quarter, we believe that this distribution agreement will provide a more consistent manufacturing load for our Irvine operations and stranding sources, and which we believe will produce predictable positive cash flows for our cable operations." Initially Far East will purchase finished ACCC conductor for exclusive distribution within certain provinces in China where Far East has already established excellent working relationships with a number of power bureaus. Under other provisions of the agreement Far East will begin qualification to strand CTC's ACCC core for sale in China under a license agreement. Mr. Sepe added, "The execution of this agreement clearly demonstrates to us Far East's understanding and commitment that CTC's ACCC conductor technology will play a major role in the modernization of the Chinese power grid by increasing efficiency and capacity." Benton Wilcoxon, CEO commented, "This relationship represents our participation in a very dynamic Chinese economy, for which State Grid has estimated annual transmission and distribution expenditures in excess of $16 billion. The continued acceptance of our technology will provide tremendous opportunity to grow our international business as grid operators around the world become increasingly aware of the value proposition our ACCC cable offers for constrained power grids." About Far East: Jiangsu New Far East Cable Corporation and its subsidiary, Far East Composite Technology Company, is located in Yixing City, Jiangsu, China. Far East is one of China's leading manufacturers of electrical transmission and distribution cable, which it sells to China's regional power grids through 200 local distributors.