Composite Technology Corp. (CPTC.OB) Subsidiary Signs Agreement with Sterlite for Distribution of ACCC Conductors in India
Today, Composite Technology Corp. announced that its subsidiary, CTC Cable Corp. has established an agreement with Sterlite Technologies Limited. Under the conditions of the agreement, Sterlite will manufacture ACCC® conductors for sale in the Indian market; there is also the possibility that the companies will work together to support sales in other markets. The agreement covers a six-year period with provisions to extend beyond the initial term. Sterlite is positioned to be the only qualified Indian strander supplying the Indian market for a fixed period as long as the company can achieve sales volumes. The agreement does not prevent licensed…