Other news: Marc Wade resigns from the Board of Directors of ICI
TORONTO, July 13 /CNW/ - Innovative Composites International Inc. (IC:TSX-V) ("ICI" the "Company"), is pleased to announce that it has received a purchase order for a composite pedestrian bridge from Engineered Plastics Inc. ("EPI"), a privately held US specialty composite products manufacturer that serves the infrastructure/construction, mass transit and corrections industries.
The pedestrian bridge is part of the reconstruction and rehabilitation of the Winnetka train station, 30km north of Chicago, Illinois. Utilization of StructureLite(TM) panels provides the bridge system with a strength-to-weight ratio greater than steel, offering significant design advantages and quick installation on site with a small work crew. StructureLite(TM) panels are inherently corrosion-resistant which eliminates the ongoing maintenance concerns from moisture, salt air, and termites that pose problems for typical pedestrian bridges constructed in steel, wood and concrete.
Mr. Ken Szekely, President of EPI commented, "Over the last few years the demand for composite pedestrian bridges has steadily risen and our distributors have been looking for a solution. EPI has many more pedestrian bridge orders in the pipeline following the successful completion of the project in Winnetka. Utilizing ICI's StructureLite(TM) panels we can offer superior performance at competitive prices which should allow EPI to capture a significant part of the composite bridge market in North America."
Terry Ball, ICI's Chief Executive Officer said, "Pedestrian bridges are another application ideally suited for our panels. Mass transit, municipal facilities, parks and private property landscaping solutions, the appeal of affordable composite bridges that lower maintenance costs is universal. We are excited about expanding our partnership with Engineered Plastics and look forward to a strong demand for composite bridges in the future."
Other news: Mr. Marc Wade has resigned as a member of the Company's Board of Directors effective July 9th, 2010. Mr. Wade advised the company that due to the overwhelming demands on his time as General Partner of BHP Advisors he would be unable to devote the required time to ICI.
Terry Ball, President and CEO of ICI stated "We would like to thank Mr. Wade for his advice and contribution as a member of our Board of Directors and on behalf of the Board wish him well in his future endeavours."
About Engineered Plastics Inc.
EPI was founded by its owner and CEO Ken Szekely 35 years ago. The company is a leading designer, engineer and manufacturer of specialty composite products that serves the infrastructure/construction, mass transit and corrections industries. EPI is a New York State Corporation with manufacturing facilities in Buffalo N.Y. and regional offices throughout North America and Europe.
For more information please visit EPI's website: www.armordeck.net
About Innovative Composites International Inc.
Headquartered in Toronto, Canada, ICI is a high-tech engineering and manufacturing company established in 2007 by a group of entrepreneurs with a successful track record in commercializing advanced materials.
The Company is currently focused in two areas: Structure Lite(TM) panels, a unique line of application-ready structural composite panels and Hero 451(TM), a line of environmentally friendly fire inhibitors and suppressant. ICI's goal is to deliver products that exceed industry standards with greater durability, strength, flexibility and safety.
ICI is partnering directly with leaders in its target industries as it considers it to be the fastest way to bring products to market. ICI's customized solutions are intended to provide partners with material advantages over their competitors.
To find out more about Innovative Composites International Inc. (IC: TSX-V), please visit our website at http://www.innovativecompositesinc.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
"Statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in its target markets, the demand for ICI's products and the availability of funding. These forward-looking statements are made as of the date hereof and ICI does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from ICI's expectations and projections."
SOURCE Innovative Composites International Inc.
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