CALGARY, Aug. 27 /CNW/ - Resin Systems Inc. ("RS") (RS - TSX/RSSYF -
OTCBB), a developer of innovative advanced material products, today announced
that its contract manufacturer, Global Composite Manufacturing, Inc., has
begun commercial production of RStandard(TM) utility poles from the first
production cell in Tilbury, Ontario.
Commercial production has begun following the completion last week of
climate controls on the first production cell and all required quality checks.
Production began with one shift and Global Composite Manufacturing, Inc. plans
to add second and third shifts shortly with full production from the first
cell anticipated in the fourth quarter. The finished product will initially be
dedicated to customer shipments and trial production of several product
improvements developed this year.
"The beginning of commercial production is a critical milestone reached
through the dedicated joint effort of Global Composite Manufacturing and RS
over many months. We will now turn our attention to adding shifts on the first
cell and working on the preparation of the second cell," said Paul Giannelia,
president and chief executive officer. "These are the next important steps in
reaching our goal of establishing meaningful revenue increases by the end of
this year and reaching profitability in 2008."
Certain information set forth in this MD&A, including management's
assessment of RS's and Global Composite Manufacturing, Inc.'s future plans and
operations, contains forward-looking statements which are based on RS's
current internal expectations, estimates, projections, assumptions and
beliefs, and which may prove to be incorrect. Some of the forward-looking
statements may be identified by words such as anticipate", "believe", "plan",
"estimate", "expect", "predict", "intend", "will", "may", "could", "would",
"should" and similar expressions intended to identify forward-looking
statements. These statements are not guarantees of future performance and
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's lack of revenues and unpredictability of
future revenues; the uncertainty of the profitability of existing and
contemplated products of RS; RS's future capital requirements; RS's future
labour requirements; competition from established competitors with greater
resources; the uncertainty of developing a market for RS's products or for
third party products incorporating its products; RS's reliance on third
parties to manufacture and sell its RStandard products and to manufacture and
sell a line of rollers based on its RStandard composite tubes; RS's reliance
on third party licensees in international markets; the risks associated with
rapidly changing technology; RS's reliance on third parties to supply raw
materials to it so it may make its Version resin and RStandard composite
tubes; intellectual property risks, risks associated with international
operations, foreign exchange rate fluctuations and changes in general
economic, market and business conditions. Many of these risks and
uncertainties are described in RS's 2006 Annual Information Form and other
documents RS files with the Canadian securities authorities and the United
States Securities and Exchange Commission. 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 unless otherwise
required to by applicable securities laws. Any forward-looking information
contained herein is expressly qualified by this cautionary statement.
RS is a developer of innovative advanced material products for
large-scale industrial markets. These products replace products which
traditionally have been made using conventional building blocks of wood,
concrete and steel. The foundation of RS is continuous innovation and product
development utilizing its proprietary Version(TM) polyurethane resin system.
RS has successfully developed the RStandard(TM) composite roller tube and
the award winning RStandard(TM) modular composite utility pole. For the latest
on RS's developments, click on "Latest News" on www.grouprsi.com.
"Version", "RStandard" and "VRoll" are trademarks of RS.
For further information:
For further information: Resin Systems Inc., Laurien Abel, Investor and
Public Relations Coordinator, Tel: (403) 219-8000, Fax: (403) 219-8001, Email: