Composite Technology Corporation (CTC) announces a new order for 235 km (146 miles) of ACCC conductor for use on the Chinese electrical grid. The order issued to its subsidiary, CTC Cable Corp., by Far East Composite Technology Co., a subsidiary of Jiangsu New Far East Cable Corp. (Far East), is valued at approximately $4 million. This order represents the latest project awarded under the established Distribution Agreement with Far East for ACCC conductor and accessories. Far East remains on track to meet its quarterly obligations for the second quarter of 2007. Upon installation the installed base of ACCC conductor will rise to over 1680 km (1044 miles) worldwide. The order is composed of multiple conductor sizes for projects to be installed this fall.
Benton Wilcoxon CEO, stated, "The Chinese market is an important part of our international strategic plan. We are pleased to see ACCC conductor being used throughout the growing Chinese transmission market. Once again, Jiangsu New Far East has done an excellent job educating customers and increasing the market penetration of ACCC conductor."