October 08, 2009 13:39 ET

Composite Technology Announces ACCC Projects in Indonesia

Two Orders for ACCC Core From CTC Cable's Newest Stranding Sources

IRVINE, CA--(Marketwire - October 8, 2009) - Composite Technology Corporation (CTC) (OTCBB: CPTC) is pleased to announce two new orders for ACCC™ 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™ 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™ 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™ 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™ core for other markets as well. These programs highlight our success in driving ACCC™ 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™ 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 Information

  • Contact:
    Investor Relations
    James Carswell