IRVINE, Calif. - Friday, August 19th 2011 [ME NewsWire]
(BUSINESS WIRE)-- Industrial conglomerates Kaskol and RU-COM have completed the acquisition of all the assets of CTC Cable’s business. The business will continue to operate from the same location in Irvine, California and will be operated as CTC Cable Corporation. The company’s major focus will be on continuing the expansion of its ACCC® conductor sales to customers throughout the world.
Commenting on the acquisition, Sergey Nedoroslev, Chairman of Kaskol, stated, “We are very pleased to acquire this advanced conductor business, which has developed such excellent technology and is managed by a world-class team of professionals.”
Mikhail Abyzov, Chairman of RU-COM Group, added, “CTC Cable’s technology and IP portfolio are outstanding, and with access to additional financial resources, combined with our reach in emerging markets throughout the world, CTC Cable’s advanced conductor product will accelerate its growth across all global markets. We are committed to investing in expansion plans as well as expanding the company’s R&D and new product development.”
Benton Wilcoxon, former CEO of Composite Technology Corporation, also stated, “This is clearly a new chapter in CTC Cable’s growth and evolution. Kaskol’s and RU-COM’s strength will open opportunities for CTC Cable that it formerly did not have as a dynamic, but undercapitalized firm. This is an excellent fit since the new owners understand and value complex technologies as well as have a very solid presence from which to focus on marketing the performance benefits of ACCC conductor worldwide.”
About KASKOL:
Founded in 1988, Kaskol is one of the first privately owned Russian companies focusing in investment opportunities in aerospace, engineering, and energy related industries.
About RU-COM:
RU-COM is a 60000 people strong leading Russian industrial conglomerate. Among the various sectors of economy, RU-COM invests and manages companies in industrial and power sector construction, power generation and solutions in energy efficiency and efficient use of resources.
About CTC Cable Corporation:
CTC Cable’s patented ACCC® conductor technology enables superior performance of high voltage transmission and distribution electrical grids. ACCC conductors use proven carbon fiber core produced at its Irvine, California headquarters for delivery to qualified conductor manufacturers who produce and distribute ACCC conductors to electrical grid customers worldwide. ACCC conductors significantly reduce thermal sag and allow increased capacity when compared to traditional conductors of similar diameter and weight. Therefore the more energy efficient ACCC conductor can replace traditional conductors resulting in increased performance and capacity. It is an ideal conductor for both upgrading existing power lines as well as building new lines since the technology allows for the reduction of the number of support structures and/or a reduction of their height.
Since its commercial introduction in 2005, ACCC® conductor has been selected for approximately 11,000 kilometers (6,835 miles) in over 170 projects in all environmental and operating conditions. ACCC® is a registered trademark of CTC Cable Corporation.
For further information, visit our website: www.ctccable.com or contact us at +1-949-428-8500.
Contacts
CTC Cable Corporation
Benton Wilcoxon, +1-949-428-8500
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