RS Technologies Provides Operational Update

CALGARY, Jan. 11 /CNW/ - RS Technologies Inc. ("RS" or the "Company") (RS - TSX), a technology innovator and manufacturer of advanced composite products for infrastructure markets, today, further to its news release dated December 23, 2010, provided the following operational update.

Status of Working Capital

As a result of funds received from sales of RStandard® poles out of existing inventory and ongoing cash management, RS anticipates that it has sufficient working capital to continue as a going concern until the middle of February 2011. Management of RS is attempting to secure funds for RS's working capital needs and continues to pursue cost reduction strategies in order to continue operations. In the event that RS is unable to secure additional funds for its working capital needs, it will be unable to continue as a going concern beyond the middle of February 2011.

Search for Investors and Strategic Partners

RS continues to work with its advisor, Macquarie Capital Markets Canada Ltd., to identify investors and strategic partners for RS to provide the Company with both short and long term solutions for its working capital needs. There is no assurance that RS and its financial advisor will be successful in completing a transaction with any such investors or strategic partners.

About RS

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

"RStandard" is a registered trademark of RS.

For further information please contact:

Reader Advisory

Certain information set forth in this news release, including management's assessment of RS's future plans and operations and the anticipated duration of time which RS's current working capital will enable RS to continue as a going concern, 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

Profil de l'entreprise

RS Technologies Inc.

Renseignements sur cet organisme


Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .


Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.


Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.