General Cable and Composite Technology Announce One of the Most Comprehensive Insured Warranties in the Industry
HIGHLAND HEIGHTS, KY - July 11, 2005 - General Cable Corporation (NYSE:BGC) today announced that in association with Composite Technology Corporation (“CTC”) (OTCBB: CPTCQ), the Company will immediately begin offering its customers that purchase its TransPowr® ACCC conductor and related hardware one of the most comprehensive insured warranties available in the Electric Power Industry for transmission cables. This three-year warranty covering parts and labor is backed by General Fidelity Insurance Company, a Bank of America company.
“The introduction of this warranty program supports the recent launch of our ACCC conductor, which utilizes an innovative composite core technology from CTC. We are confident that together with CTC, we will continue to lead the way in providing the most cost effective and reliable products to our electric utility customers,” said Mike Andrews, Senior Vice President and General Manager, for General Cable Corporation.
General Cable, headquartered in Highland Heights, Kentucky, is a leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the energy, industrial, specialty and communications markets. Visit our website at www.generalcable.com.
General Fidelity Insurance Company is a wholly owned subsidiary of Bank of America Corporation and is licensed to write property casualty and liability insurance in the United States and Canada.
Composite Technology Corporation is an Irvine, California based company providing high performance composite core conductor cables for electric transmission and distribution lines. More information can be found at www.compositetechcorp.com or by contacting James Carswell, Director of Investor Relations, at 760-416-8628.
Certain statements in this press release, including without limitation, statements regarding future financial results and performance, plans and objectives, capital expenditures and the Company’s or management’s beliefs, expectations or opinions, are forward-looking statements. Actual results may differ materially from those statements as a result of factors, risks and uncertainties over which the Company has no control. Such factors include economic and political consequences resulting from the September 2001 terrorist attack and the war with Iraq, domestic and local country price competition, particularly in certain segments of the power cable market and other competitive pressures; general economic conditions, particularly in construction; changes in customer or distributor purchasing patterns in our business segments; the Company’s ability to increase manufacturing capacity and productivity; the financial impact of any future plant closures; the Company’s ability to successfully complete and integrate acquisitions and divestitures; the Company’s ability to negotiate extensions of labor agreements on acceptable terms; the Company’s ability to service debt requirements and maintain adequate domestic and international credit facilities and credit lines; the Company’s ability to pay dividends on its preferred stock; the impact of unexpected future judgments or settlements of claims and litigation; the Company’s ability to achieve target returns on investments in its defined benefit plans; the Company’s ability to avoid limitations on utilization of net losses for income tax purposes; the cost of raw materials, including copper and aluminum; the Company’s ability to increase its selling prices during periods of increasing raw material costs; the impact of foreign currency fluctuations; the impact of technological changes; and other factors which are discussed in the Company's Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2005, as well as periodic reports filed with the Commission.
Release No. 0474
07/11/05
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