08 October 2004
08 October 2004
Composite Technology Corporation completes Manufacturing and Distribution Agreements between CTC Cable Corporation (CTC) and General Cable Industries, Inc.
Under the Manufacturing Agreement, General Cable has the right to exclusively manufacture finished ACCCTM cable utilizing the CTC proprietary composite core through 2007 for applications in the United States and Canada. Under the Distribution Agreement, General Cable has been granted a non-exclusive right to distribute and sell CTC's ACCC through 2007 for applications in the United States and Canada.
As a large player in the utility cable industry for over a century, General Cable's manufacturing practices and engineering expertise complements the CTC leading-edge composite technology to provide a cost-effective cabling solution that significantly increases the capacity and reliability of cables used in the power grid.
Utilizing the utility cable industry standard specifications and manufacturing processes, General Cable will apply aluminium strand around CTC's composite core providing a finished ACCC conductor cable.
Under terms of the Distribution Agreement, General Cable is a non-exclusive distributor for CTC's ACCC cable for the U.S. and Canadian markets. General Cable has built an extensive sales and marketing infrastructure dedicated to the support of the utility market. In its century long experience supporting the utility market, General Cable has also developed the relationships with utility companies that will facilitate the commercialization of ACCC cable.
""CTC offers the first truly innovative core technology that provides solutions to increase the power grid's capacity and reliability in a cost-effective way,"" said J. Michael Andrews, Senior Vice President and General Manager of General Cable. ""The ACCC product offers our utility customers a viable option for reconductoring existing lines with little or no changes to towers or constructing new lines with less environmental impact.""
""Last year's blackout in the Northeast brought the need to update the North American power grid to the forefront of public awareness,"" stated John Turcich, Vice President of Utility Sales for General Cable. ""Our relationship with CTC allows us to offer its superior ACCC cable at a time when the market is on the verge of explosive growth.""
""By establishing a joint marketing and distribution initiative with General Cable, a recognized leader in the utility cable market in North America and internationally, CTC expects to capitalize on General Cable's extensive relationships with leading utility customers to generate accelerated revenue growth and market penetration for our ACCC cable,"" said Benton Wilcoxon, Composite Technology Corporation Chairman and CEO.