Far East Composite Technology Company has ordered 235 km(146 miles) of ACCC conductor for use on the Chinese electrical grid. The order was issued to CTC Cable Corporation and 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 of CTC, said, "Once again, Jiangsu New Far East has done an excellent job educating customers and increasing the market penetration of ACCC conductor."
Jiangsu New Far East Cable Corporation and its subsidiary, Far East Composite Technology Company, is located in Yixing City, Jiangsu, China. Jiangsu New Far East is one of China's leading manufacturers of electrical transmission and distribution cable, which it sells to China's regional power grids through 200 local distributors.