Composite Technology Corp. (CTC) announces a new order for a minimum of 600 km (373 miles) of ACCC conductor for use on the Chinese electrical grid. The order, issued to the subsidiary, CTC Cable Corp. by Far East Composite Technology Co., a subsidiary of Jiangsu New Far East Cable Corp. (Far East), is made up of multiple conductor and core sizes and has a minimum value of approximately $4.9 million and an upper value of nearly $8.0 million depending upon the selection of conductor components. Final determination of conductor mix will be made in late September. Terms of the sale are consistent with an established three year Distribution Agreement that provides favorable cash management terms to CTC Cable. When this installation is completed, the installed base of ACCC conductor will be over 2385 km (1482 miles) worldwide.
“Far East continues to advance sales and installation of ACCC in China. They have successfully positioned ACCC conductor within regional power bureaus and have shown a great ability to convey the product advantages to the decision makers within these bureaus” stated Marv Sepe, COO of CTC and President of CTC Cable.
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