New joint venture to help meet China's increasing electricity needs
with state-of-the-art ACCC conductor
Global announced that it entered into a joint venture with the NARI
Group, a wholly-owned subsidiary of the State Grid Corporation of China,
the world's largest electric utility company. The new company, Jiangsu
NARI CTC Composite Material Co, Ltd, will begin commercial operations in
early 2014 and produce high-capacity, energy-efficient, and
highly-proven ACCC® conductor core in China, exclusively for
the Chinese market.
"China is the world's most populous country and largest energy consumer.
China's annual economic growth rate has averaged 10 percent every year
since 2000, which has spurred increased demand for electricity. ACCC
conductor, which was invented, developed and internationally patented by
CTC Global, offers us the most advanced and well-proven conductor
technology that will help us reach our transmission and growth
objectives," said Mr. Yang Yingjian, Chief Technology Officer with NARI
of State Grid Corporation of China.
Jiangsu NARI CTC Composite Material Co, Ltd will produce ACCC core using
CTC's internally built pultrusion machines and specialized tooling. CTC
will manage the new venture to ensure the highest quality, while
supplying all of its proprietary raw materials and expertise. The new
company will produce core exclusively for the Chinese market, though
core could be shipped globally should CTC's core production facility in
Irvine, California be overbooked.
"We are pleased that State Grid Corporation of China recognizes the
substantial value of the ACCC conductor, and together we look forward to
producing the reliable and efficient conductor core in China," stated
Dr. Jason Huang, CEO of CTC Global and General Manager of the new joint
About CTC Global:
CTC Global is a privately held Delaware Corporation based in Irvine,
California. CTC developed, tested and commercialized the patented (and
trademark registered) ACCC® conductor and ancillary hardware
components such as dead-ends and splices. CTC manufactures the ACCC
conductor and ancillary hardware components in association with
certified stranding and manufacturing partners, worldwide. The ACCC core
has been in commercial production at CTC's ISO 9001-2008 certified
manufacturing facility in Irvine, California, since early 2006. The core
is then shipped to one of more than two dozen regional manufacturing
partners, where the finished conductor is produced. Since its commercial
introduction, CTC has shipped more than 22,000 km of ACCC conductor to
more than 260 project sites in 28 countries. For more information about
CTC Global, please visit: www.ctcglobal.com.
About Jiangsu NARI CTC Composite Material Co, Ltd:
Jiangsu NARI CTC Composite Material Co., Ltd is a registered company in
Huai'An, Jiangsu Province, China. Its main business is the production
and marketing of ACCC core. With its unique competitive advantages in
the electric power transmission industry, the company will work closely
with its customers to provide ACCC core and supporting hardware, as well
as design and construction services.
About State Grid Corporation of China:
State Grid Corporation of China (SGCC) is the largest electric utility
company in the world. SGCC is headquartered in the Xicheng District,
Beijing and manages distribution from subsidiaries in Northern China,
Northeastern China, Eastern China, Middle China and Northwestern China.
According to the 2013 Fortune Global 500, SGCC is the seventh largest
company in the world. For more information about SGCC, please visit: http://www.sgcc.com.cn/ywlm/index.shtml.
Communications for CTC Global
Ilene Adler, +1 415-984-1970 x0102