CALGARY, Dec. 9 /CNW/ - Resin Systems Inc. ("RS") (RS - TSX), a technology innovator that develops advanced composite products for infrastructure markets, provides the following commercial and operational update.
Since the company's November 17, 2009 announcement of its exclusive North American distribution agreement, RS has received the initial purchase order, covering the first half of the initial term of the agreement, with a value exceeding $100 million USD. RS is producing RStandard(R) modules against this purchase order. Internationally, the company continues to build upon its success in working with its established distributors and seeking out new strategic partners with a proven record of introducing innovative technologies to their domestic utility and communication markets. Market demand for RStandard products continues to increase, driving demand for expansion of the company's manufacturing capacity.
From a production standpoint, RS is pleased to report that its Tilbury facility has met its 2009 year-end production rate target. This achievement builds on the company's improvements in production rate performance established during the first, second and third quarters of 2009 and was made possible through a range of improvements to RS's equipment and processes and enhancements in material science. The company's 2009 year-end production rate milestone ensures RS can satisfy the commercial obligations outlined above.
RS would like to remind investors and interested parties of its upcoming teleconference and webcast on December 14, 2009 at 11 a.m. (EST) / 9 a.m. (MST). The call will be hosted by Paul Giannelia, president and chief executive officer of RS and will include a question and answer period.
To participate please dial 1-888-231-8191 (toll-free in North America) or (647) 427-7450 approximately 10 minutes prior to the call. A live audio webcast of the conference call will also be available via RS's website, www.grouprsi.com, on the home page and the investor relations page. The webcast will be archived for approximately 90 days. In addition, to access a replay of the teleconference, please dial 1-800-642-1687 (toll-free in North America) or (416) 849-0833 and enter passcode 42359005. The replay will be available until December 28, 2009.
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(R) 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.
SOURCE RESIN SYSTEMS INC.
For further information: For further information: Laurien Abel, Investor Relations and Communications, Tel: (403) 219-8000, Fax: (403) 219-8001, Email: firstname.lastname@example.org