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Composite Technology Corporation has won new orders for 418 kilometers (260 miles) of ACCC conductor for use on the Chinese electrical grid.
The order issued to our subsidiary, CTC Cable Corporation, by Far East Composite Technology Company, a subsidiary of Jiangsu New Far East Cable Corporation (Far East), is made up of four different core sizes with associated hardware and is valued at approximately $2,775,000. The ACCC core will be stranded by Far East in China and will be used for transmission projects in An Hui and Jiang Su provinces. Terms of the sale are consistent with an established three year Distribution Agreement which provides favorable cash management terms to CTC Cable. The use of ACCC conductor continues to increase in China and adds to the ever expanding installed base of ACCC.
“”China is an excellent market for ACCC conductor and we are very pleased to see the list of installations growing. Far East is now a certified stranding source for ACCC core for the local production of ACCC conductor, which will provide new opportunities to demonstrate the unique benefits of our product to regional utilities,”” stated Marv Sepe, COO of CTC and President of CTC Cable.
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