IRVINE, Calif.--(BUSINESS WIRE)--Today, CTC 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 company.
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.