Composite Technology Announces ACCC Conductor Project In Indonesia
Repeat Order for ACCC Core From One of CTC Cable's Newest Stranding Sources
Irvine, CA -(Marketwire) - Composite Technology Corporation (CTC) (OTCBB: CPTC) is pleased to announce an order for ACCC® core for its subsidiary CTC Cable Corporation from one of its two stranding sources in Indonesia, PT KMI Wire and Cable Tbk. This project represents the third ACCC® conductor project that will be installed in Indonesia. Installation is scheduled for March 2010.
The Lahat-Bukit Asam Transmission Line project consists of the reconductoring of a critical 150kV line, which forms the backbone for transferring energy from South Sumatera Province to Bengkulu Province. ACCC® Lisbon conductor will replace the existing ACSR Hawk to provide increased capacity.
PLN Sumatera Grid considered ACCR as well as double bundled ACSR, but selected ACCC® Lisbon conductor due to its high temperature, reduced sag characteristics and its ability to upgrade capacity in a shortened construction period.
This project will be stranded by PT KMI Wire and Cable and is for 282 kilometers of ACCC® Lisbon conductor. This new order highlights CTC Cable's increasing customer acceptance and success in driving ACCC® conductor in the growth market of Indonesia. CTC Cable looks forward to expanding its relationship with PT KMI Wire and Cable.
John Brewster, President of CTC Cable, commented, "We are pleased that this new stranding manufacturer in Indonesia is establishing traction in the Indonesian market. With our third order from the country, we feel confident that sales will grow throughout the region."
About PT KMI Wire and Cable Tbk:
PT KMI Wire and Cable Tbk, formerly known as PT GT Kabel Indonesia Tbk, is a public-listed Indonesian cable manufacturer, situated in Eastern Jakarta and employs more than 700 people. It was established in 1972 as PT Kabelmetal Indonesia by Kable-und-Metallwerke Guetehoffnungshuette AG of Germany. The Company's products include aluminum and copper rods, both non-insulated and insulated aluminum and copper electrical cables, as well as control, flexible and instrument cables. It sells its products to both domestic and international markets. Certificates of ISO 9001, ISO 14001, as well as OHSAS 18001, which are attributed to the company, keep the company in consistent effort of being a high-class cable manufacturer. For further information on the company, visit www.kmi.co.id.
About CTC:
Composite Technology Corporation, based in Irvine, California, USA, develops, manufactures and sells innovative, high performance, energy efficient electrical transmission conductors through its subsidiary, CTC Cable Corporation. CTC Cable produces composite core rod for use in its patented high efficiency ACCC® conductors, which are used in overhead electrical transmission and distribution lines. ACCC® conductors perform with less line losses when compared to similar diameter conventional conductors and therefore enable power generators to reduce the amount of generation while still delivering the same power to customers. ACCC® conductors also enable grid operators to reduce blackouts and brownouts by providing reserve electrical capacity, since they can be operated at higher temperatures without significant thermal line sag. The performance and longevity of CTC's ACCC® conductor technology has been independently verified by certifying agencies, test centers and power grids around the world and have consistently demonstrated significant savings in upgrade capital costs and operating expenses when substituted for traditional conductors in reconductoring upgrades as well as new line construction. CTC Cable delivers ACCC® core to licensed qualified conductor manufacturers worldwide for ACCC® conductor production and sale into local markets. Over 9,000 kilometers of ACCC® conductor have been installed on five continents. ACCC® is a registered trademark of CTC Cable Corporation.
For further information, visit our website: www.compositetechcorp.com or contact Investor Relations, James Carswell, +1-949-428-8500.
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 (the "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, resolution of pending and threatened litigation matters involving CTC or its subsidiaries, resolution of disputes with CTC's or subsidiaries' creditors competition with larger companies, development of and demand for a new technology, general economic conditions, the availability of funds for capital expenditure and financing in general by us and our customers, availability of timely financing, cash flow, securing sufficient quantities of essential raw materials, timely delivery by suppliers, 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/A for fiscal year ended September 30, 2009 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