Composite Technology Announces ACCC Projects in Indonesia
October 08 2009 - 1:39PM
Marketwired
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