Composite Technology Corp. announced today that it has received a new conductor order from Far East Composite Technology Company, a subsidiary of Jiangsu New Far East Cable Corporation. The order calls for a single core size with associated hardware to be used on a 240 kilometer transmission line in China’s Hubei province.
The company underscored the significance of the order as it signals the recommencement of order flow for new projects in China. Although the second half of 2008 realized a drop off in orders as a result of the impact of the Summer Olympics in China as well as the subsequent holidays, starting in mid-October transmission line projects resumed and the backlog of suspended projects was addressed.
According to the press release, the continuation of orders advocates that the Far East is working through the end of the backlog projects and is anticipating new projects for 2009. Under terms of the Distribution Agreement, the core will be stranded by Far East in China. The line is scheduled for installation towards the end of the first quarter of next year.
“While not generally recognized by people not participating in the Chinese market, the impact of the Olympics and other events in over the past year was substantial. Transmission projects essentially came to a halt until the events were complete. We are very happy to be back on the path towards our normal order flow with the Far East,” commneted Marv Sepe, COO of CTC and President of CTC Cable.
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