Innovative Composites Announces Delivery of Enclosures and
Additional Purchase Orders.
TORONTO,
Nov. 7, 2012 /CNW/ - Innovative
Composites International Inc. ("ICI" or the "Company"), (TSXV: IC)
(OTCQX: ICIZF, a producer of proprietary engineered composite
products, announced today that it has delivered the specifically
engineered enclosures from the previously announced first
production order and that it has received purchase orders for
additional enclosures, which bring the total number of enclosures
ordered to 16. The enclosures are all approximately 8' wide
and 8' tall and range in size from 28' to 54' long. The
Company is producing these enclosures in its Orangeburg, South Carolina facility and these
orders represent the first recurring revenue generated by that
facility. The customer, who is a global leader in the
heating, air conditioning, and refrigeration market, has continued
to request that their name not be released for competitive
reasons. The Company is working on several different new
enclosure designs for possible adoption by this customer.
"These enclosures were custom-engineered for
this customer based on their specifications and are a result of a
tremendous amount of work and a cooperative effort by teams on both
sides," said Terry Ball, President
and CEO of ICI. "They were made possible because of the attributes
of ICI's proprietary thermoplastic RMor SkinTM, such as
its significant weight-to-strength ratio, resistance to the
elements, and because of its versatility and flexibility. We are
very pleased with the performance of the production equipment in
our South Carolina facility and we
are proud to have been chosen as a supplier for these enclosures.
We are working diligently with this world-class customer to expand
this relationship going forward."
About Innovative Composites International
Inc.
Headquartered in Toronto, Canada, Innovative Composites
International Inc. (TSXV: IC) (OTCQX: ICIZF) is a high-tech
engineering and manufacturing company whose goal is to utilize its
proprietary "green" composite materials and building systems to
provide innovative, engineered product solutions to markets that
include prefabricated modular housing, shelters and containers, and
industrial applications.
To find out more about ICI please visit our
website at: www.innovativecompositesinc.com.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
"Statements made in this press release
include forward-looking statements that involve a number of risks
and uncertainties. These statements relate to future events or
future performance and reflect management's current expectations
and assumptions. A number of factors could cause actual events,
performance or results to differ materially from the events,
performance and results discussed in the forward-looking
statements, such as the economy, generally, competition in its
target markets, the demand for ICI's products and the availability
of funding. These forward-looking statements are made as of the
date hereof and ICI does not assume any obligation to update or
revise them to reflect new events or circumstances. Actual events
or results could differ materially from ICI's expectations and
projections."
SOURCE Innovative Composites