Composite Technology Announces ACCC Projects in Indonesia
* Reuters is not responsible for the content in this press release.
IRVINE, CA, Oct 08 (MARKET WIRE) --
Composite Technology Corporation (CTC) (OTCBB: CPTC) is pleased to
announce two new orders for ACCC(TM) core for its subsidiary CTC Cable
Corporation. These orders are from CTC Cable's stranding sources in
Indonesia, PT KMI Wire and Cable Tbk and PT Tranka Kabel. These projects
represent the first ACCC(TM) conductor projects that will be installed in
Indonesia.
The Angke-Ancol project, which is currently being stranded by PT Tranka
Kabel, is scheduled to be installed in late October of this year. This is
a reconductor of a double circuit 4.6 kilometers line and serves North
Jakarta City, providing electricity to commercial, residential, light
industries and recreation areas. ACCC(TM) Warsaw conductor will replace
the existing ACSR Drake to provide increased throughput.
The New Tangerang - Cengkereng Line is located in the city of Tangerang in
Banten Province. This project will be stranded by PT KMI Wire and Cable
Tbk and is for 80 kilometers of ACCC(TM) Dublin conductor. This
reconductoring project was planned to upgrade the line's current capacity
to serve the proposed Teluk Naga Coal Fired Steam Plant and to supply more
reliable power to the Cengkareng Airport. Due to the airport and
residential communities in the area, both clearance and tower height
limitations exist. ACCC Dublin conductor was chosen as it was able to
offer the solution for increased capacity and reliability, without the
need to modify the existing tower structures.
"CTC Cable made a strong push to engage stranding operations in specific
geographic regions. In spite of recent catastrophic events in Indonesia we
believe the region is still a strong growth market. The PT Tranka Kabel
and PT KMI Wire and Cable Tbk are both first rate operations that will
serve the region and provide economical stranding of ACCC(TM) core for
other markets as well. These programs highlight our success in driving
ACCC(TM) conductor into new markets," commented Marv Sepe, President of
CTC Cable and Chief Operating Officer of CTC.
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 PT Tranka Kabel:
Founded in 1952, PT Tranka Kabel was the first cable manufacturer in
Indonesia. Its continued success through five decades lies in the
company's commitment to quality. Since 1972, Tranka Kabel has been
producing telephone cables of various types and sizes. Today with the
current facilities, Tranka Kabel is able to produce telephone cables from
1 pair up to 2,400 pairs. The Company also produces aluminum and copper
rods for power cables including, ABC cables, bare conductor, low voltage,
medium voltage and control cables. Situated on the outskirts of Jakarta,
the present manufacturing facilities consist of two plants on 15 hectares
of land. In 1994, the second plant was equipped with state of the art
machinery especially from Nokia Cable's machinery of Finland.
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 electrical
transmission and distribution grids. ACCC(TM) 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 technology have 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. ACCC core, the
key component of ACCC conductor, is produced by CTC Cable and delivered to
licensed qualified conductor manufacturers worldwide for ACCC conductor
production and sale into local markets. Over 8000 kilometers of ACCC
conductor have been installed on five continents.
*ACCC is a 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, 2008 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.
Contact:
Investor Relations
James Carswell
949-428-8500
Copyright 2009, Market Wire, All rights reserved.
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