CALGARY, Feb. 4 /CNW/ - 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
"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
"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
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.
For further information:
RS Technologies Inc.
Laurien Abel, Investor Relations and Communications
Tel: (403) 219-8000 Fax: (403) 219-8001