SOURCE: Composite Technology Corporation

Composite Technology Corporation

May 19, 2010 08:05 ET

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 - May 19, 2010) -  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 Tranka Kabel, for PLN Sumatera Grid (PLN). This order represents the fourth ACCC® conductor project purchased from Indonesia. Installation is scheduled for completion by September 2010.

PLN, the sole provider of electricity in Indonesia, called a tender to build a coal fired power plant in the Batu Raja area of Indonesia. This new power plant required an upgrade to the Bukit Kemuning to Kota Bumi transmission line to handle the increased capacity on the line, which is the backbone for transferring energy from South Sumatera Province to Lampung Province. Since the line spans a highly populated area, PLN was concerned with sag and the possibility of de-energizing the critical line for a lengthy period of time. 

After a comprehensive analysis of ACCR and ACCC® conductors as candidates to reconductor the 37 mile double circuit single conductor ACSR Hawk 150 kV line, PLN chose Lisbon sized ACCC® conductor. By selecting ACCC® Lisbon, the utility was able to increase capacity and greatly reduce both sag and critical construction time. 

Benton Wilcoxon, Chief Executive Officer of Composite Technology Corporation, commented, "This repeat order by PT Tranka Kabel for another PLN project demonstrates increased customer acceptance in the growing Indonesian market. CTC Cable looks forward to expanding its relationship with PT Tranka Kabel and increasing market penetration in Indonesia."

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® conductor technology has been independently verified by certifying agencies, test centers and power grids around the world and has 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 is delivered to licensed qualified conductor manufacturers worldwide for ACCC® conductor production and sale into local markets. Over 9,300 kilometers of ACCC® conductor have been ordered and over 8,500 kilometers 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 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.

Contact Information

  • For further information, contact:
    Investor Relations
    James Carswell
    +1-949-428-8500