Composite Technology Announces Distribution in the Middle East
Composite Technology Corporation (CTC) (OTCBB: CPTC) is pleased to announce that its CTC Cable Corporation subsidiary has signed a definitive Distributorship Agreement with Control Contracting & Trading Co. Pvt. W.L.L. (CCTC) with its headquarters in Abu Dhabi, United Arab Emirates, to market and distribute ACCC® conductor in the countries of Egypt, Jordan and the United Arab Emirates. The addition of CCTC to its sales force will provide expansive local sales representation in the Middle Eastern and North African markets. This grant of distributorship followed several months of confirmed verification of CCTC's strong presence and reputation within the region.
Upon signing the agreement Mr. Saleh Muqqatash, CEO of CCTC, said, "We are very impressed with the ability of composite core conductor technology to solve grid congestion problems which are prevalent in the Middle East. The reduced sag performance of ACCC® conductor provides an ideal solution for the Middle East with its high ambient temperatures. We intend to distribute ACCC® conductor in the region to provide a cost effective solution to increased capacity without having to acquire additional rights-of-way."
Ebbie K. Nakhjavani, Senior VP of Global Strategies and Director for Middle East and North Africa at CTC Cable, stated, "I am very pleased with the execution of this agreement which adds CCTC as a local distributor in the important market of the Middle East and North Africa. CCTC is a very well respected company that has operated successfully in the region for over 30 years. This is only a first step in the implementation of a new strategy to increase the adoption of ACCC® conductor in the region. We are currently in discussions with potential distributors for other countries in the Middle East and Africa."