CALGARY, Feb. 4 /PRNewswire/ - RS Technologies Inc. ("RS" or the "Company") (RS - TSX), a technology innovator and manufacturer of advanced composite products for infrastructure markets, today announced that NTE Nett AS ("NTE"), a Norwegian utility, has selected RStandard® poles for an upcoming 132kV transmission line.
The order is for the first 20 kilometers of NTE's Fiskumfoss-Bogna transmission line, a project that will ultimately extend for a total length of 50 kilometers, and involves 170 RStandard poles in H-frame and three pole structure configurations. Because of the unique nesting capability of RStandard modules, the poles, which range from 50 to 82 feet in length, will be shipped in seven standard 40 foot intermodal shipping containers, delivering significant logistics and handling advantages.
"After a thorough technical due diligence process that included witnessing full scale pole testing, visiting the Company's manufacturing facility and numerous installation site visits, NTE is embracing RStandard composite pole technology to increase our grid reliability while making environmentally responsible decisions", stated NTE's Vidar Magne Dale.
Once installed, this order will be RS's sixth installation in Norway, representing one of the larger projects in the Company's history. RS's success in Scandinavia is a product of its ongoing strategic partnership with its distributor Melbye Skandinavia AS. In addition, the Company has received its first order for a pilot installation in Sweden.
"Following an initial period of introduction of RStandard poles to our market, we are starting to achieve considerable traction across our customer base. The shipping efficiencies, ease of installation, reliability and environmentally friendly characteristics of RStandard poles resonate strongly with utilities in our region. Looking forward, we are excited about our robust pipeline of leads for 2011 and 2012," added Christian Aasheim, chief executive officer of Melbye.
Melbye Skandinavia is a technical marketing and sales organization which provides infrastructure network solutions to the energy and telecom markets. The head office is situated in Oslo, Norway, and the group consists of three subsidiaries in Norway, Sweden and Denmark. Melbye Skandinavia has a total of 10 direct sales offices in Norway, Sweden and Denmark. Annual group turnover is around MUS$50 and the company has 75 employees. For more information, visit http://www.melbye.no/english/about_us.
RS is an ISO 9001:2008 certified technology innovator that develops advanced composite material products for infrastructure markets. The composite products manufactured using the company's proprietary resins and processes are typically lighter, more durable and longer-lasting than competing products made from the traditional building blocks of wood, steel or concrete. RS's flagship product is its award-winning RStandard® composite pole. The pole is used as transmission and distribution poles to carry electric grids and as communication structures for various uses including wireless networks and microwave communications systems.
For the latest on RS's developments, go to the company's website at www.grouprsi.com.
"RStandard" is a registered trademark of RS.
Certain information set forth in this news release contains forward-looking statements which are based on RS's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause RS's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, RS not securing additional funds for its working capital needs to continue as a going concern beyond the middle of February 2011; RS's lack of revenues and unpredictability of future revenues; the uncertainty of the profitability of existing and contemplated products of RS; RS's ability to raise capital on acceptable terms when needed; RS's ability to attract and retain key employees; competition from established competitors with greater resources; the uncertainty of the developing markets in which RS operates; the risks associated with rapidly changing technology; RS's reliance on third parties to supply raw materials and the cost of such raw materials; intellectual property risks, foreign exchange rate fluctuations and changes in general economic, market and business conditions. Many of these risks and uncertainties are described in RS's annual information form for the year ended December 31, 2009 and other documents RS files with the Canadian securities authorities. The forward-looking statements are made as of the date hereof and RS assumes no obligation to update or revise such statements to reflect new events or circumstances except as required by applicable securities laws.
SOURCE RS Technologies Inc.