SOURCE: Composite Technology Corporation

Composite Technology Corporation

May 25, 2010 08:05 ET

Composite Technology Expands Stranding Capacity Into South America

CTC Cable Establishes Stranding Agreement in Colombia

IRVINE, CA--(Marketwire - May 25, 2010) -  Composite Technology Corporation (CTC) (OTCBB: CPTC) is pleased to announce that its subsidiary, CTC Cable Corporation, has entered into a stranding agreement with a cable manufacturer in Colombia. This agreement with Cables de Energia y de Telecomunicaciones S.A. "CENTELSA" increases CTC's geographic reach by offering increased and cost effective stranding capabilities for ACCC® conductor in the Latin American and Caribbean markets.

Upon achievement of stranding certification as outlined in the agreement, CENTELSA will become the seventh strander of ACCC® conductor worldwide.

CENTELSA has a 50 year history of experience in manufacturing energy cables and maintains ISO 9001:2000 and 14000 certifications in each of its six production plants. CENTELSA is among the largest energy cable exporters in the region, with exports to the U.S., Central America, the Caribbean, Europe, the Far East, and throughout South America.

Alphonso Muñoz, President of CENTELSA, commented, "CENTELSA's innovative spirit and our continuous search for state of the art products have made it possible to complete this important agreement with CTC Cable Corporation for the manufacture of ACCC® conductor. This advanced conductor can operate more efficiently at high temperatures and can reliably deliver more efficient electric power to major cities and industries around the world, while enabling us to protect the environment. This leading edge technology will accelerate CENTELSA's entry to new and existing markets by providing us the opportunity to offer the industry's single most important solution to building efficient power transmission lines to our clients." 

Benton Wilcoxon, Chief Executive Officer of Composite Technology Corporation, commented, "CENTELSA is well established and has demonstrated their expertise in manufacturing and selling in Latin America. We welcome CENTELSA to the select group of qualified ACCC® conductor manufacturers who provide the local stranding which is fundamental to broader adoption within each region."

About Cables de Energia y de Telecomunicaciones S.A., "CENTELSA":
CENTELSA has provided services to the utility industry since 1955 and for over 50 years has maintained its leadership role as the primary Colombian manufacturer of energy and telecommunications cables and one of the most important and dynamic companies in Latin America.

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 9,400 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

  • Contact:
    Investor Relations
    James Carswell
    +1-949-428-8500