Composite Technology Announces Qualification of Alcan Cable
Stranding Qualification Kicks Off Commercial Rollout of ACCC(R) Conductors by Alcan Cable
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Press Release Source: Composite Technology Corporation On Monday August 16, 2010, 8:05 am
IRVINE, CA--(Marketwire - 08/16/10) - Composite Technology Corporation (CTC) (OTC.BB:CPTC - News) is pleased to announce that its CTC Cable Corporation subsidiary has granted manufacturing qualification to Alcan Cable, to strand ACCC® conductor in North America. The grant of qualification comes after a thorough review of the manufacturing and quality systems of the Alcan Cable plant in Williamsport, Pennsylvania and the testing of stranded ACCC® conductor produced by Alcan Cable.
Earlier this year, CTC Cable and Alcan Cable signed definitive agreements that gave Alcan Cable the right to distribute ACCC® conductor to a range of key customers in North America and develop the ability to strand ACCC® conductor in its established North American factories. By attaining stranding qualification, Alcan Cable will now begin their sales and commercial rollout of ACCC® conductor to a select range of customers, consisting of nearly three dozen of the most influential utilities and transmission agencies in North America. Alcan Cable is expected to provide a fresh viewpoint and strategy for the market and use its well established relationships to provide a platform for accelerated adoption of ACCC® conductor. The combination of the Alcan Cable team with the expanded CTC Cable technical and business development teams will provide a powerful new thrust for ACCC® conductor sales in North America.
Alcan Cable will also provide stranding services for CTC Cable as it serves the balance of North America and the global market. The presence of a qualified strander in the U.S. is expected to reduce lead times and provide a local resource for the development of new market-driven ACCC® conductor configurations. Alcan Cable joins an elite list of cable companies around the world that are qualified to strand ACCC® conductors. CTC Cable has qualified stranders in Europe, China, Indonesia, the Middle East, and North America and is currently qualifying new stranders in South America. ACCC® composite core production will continue at CTC Cable's ISO 9001:2008 certified facilities in Irvine, California. CTC Cable will continue to provide support and training of installation teams in the North American market through its Field Application group.
"This is an exciting time for CTC Cable. With the qualification of Alcan Cable we now have a strong stranding source to serve the North American market and beyond. Most importantly, we worked very closely with the Alcan team throughout this process to develop a clear strategy for accelerating adoption of ACCC® conductor in the North American market. This includes articulating the value proposition for ACCC® conductor in new ways that will resonate with the North American utilities," commented Benton Wilcoxon, CEO of Composite Technology Corporation.
About Alcan Cable:
Alcan Cable has provided its customers with quality products and outstanding customer service for over 100 years. With its headquarters in Atlanta, Georgia, Alcan Cable is a leading manufacturer of aluminum cable, modular wiring systems, and rod and strip products and has seven manufacturing operations -- six in North America and one in China.
For further information, visit our website: www.cable.alcan.com or contact: Rhonda Buckley at Alcan Cable, Atlanta, +1 770 392 2381.
About CTC:
Composite Technology Corporation's patented ACCC® conductor technology enables superior performance of high voltage transmission and distribution electrical grids. ACCC® conductors use CTC's proven carbon fiber core which is produced by its subsidiary, CTC Cable Corporation, at its Irvine, California headquarters and delivered to qualified conductor manufacturers who produce and distribute ACCC® conductors to operators of electrical grids worldwide. CTC's conductor technology significantly reduces thermal line sag and can replace similar diameter and weight traditional conductors with its higher capacity and more energy efficient ACCC® conductor. It is an ideal conductor for both upgrading existing power lines as well as building new lines since the technology allows for the reduction of the number of support structures and/or a reduction of their height. Since its commercial introduction in 2005, nearly 9,000 kilometers of ACCC® conductor have been installed in all environmental and operating conditions, including severe heat and ice environments, long span applications and high capacity corridors for the modern grid. 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 co
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