Energy Composites Corporation Signs Letter of Intent to Acquire Land for Blade Factory
03 April 2009 - 12:30AM
Business Wire
Energy Composites Corporation (OTCBB:ENCC) announced that it has
signed a Letter of Intent (LOI) with the City of Wisconsin Rapids,
Wisconsin to acquire a 54 acre parcel for the purpose of building a
350,000 square foot composites fabrication plant for manufacturing
wind turbine blades. The City and the Company will reach a final
definitive agreement before June 1, 2009, after which ECC will
commence the construction of the plant. Securing the property is an
important, early step in the execution of ECC�s WindFiber�
composites-in-wind-energy program. WindFiber� is the strategic
umbrella under which ECC will carry out its wind-related
innovation, engineering, customer proposition, production and
services planning, and logistics activities to drive value for the
sector. The LOI is subject to the approval of the Wisconsin Rapids
Common Council, which is expected to act on the agreement in the
near future.
Jamie Mancl, ECC�s founder and President, praised the City of
Wisconsin Rapids and the City�s Mayor, Mary Jo Carson. �Since the
early days of Advanced Fiberglass Technologies, the predecessor
company to ECC, the City of Wisconsin Rapids has played a central
role in our success. We have done our part to create quality,
sustainable jobs with every expansion. The City has enabled much of
that expansion, and the faith that the City Council, the Mayor and
the Industrial Development Commission has shown us has been
unwavering. We simply could not have a better growth partner,�
Mancl added.
Sam Fairchild, ECC�s CEO, stated that, �Our goal is to deliver
value across all three wind energy channels � manufacturing,
servicing and supplying. Today�s agreement with the City places us
in good stead to have our blade plant up and running by the end of
the first quarter of 2010. We are excited to bring our portfolio of
innovations in materials, design, manufacturing process, product
technologies and logistics into our blade manufacturing activities,
and we are comfortable that the day we open the blade plant in 2010
will be the day that the game will change in the use of composites
in wind energy.�
Fairchild added that, �We contemplate that the blade factory
will add more than 400 new jobs to the Wisconsin Rapids economy. We
are currently working with our local college, MidState, to
establish a training program now specializing in blade fabrication
techniques as well as basic composites fabrication. We are working
to establish a certification program as a part of WindFiber� that
will ensure that we have a strong pool of certified associates
ready on Day One to make the blade plant productive. We believe
that we will deliver a capacity of 1,500 blades annually out that
plant, and we hope to ramp up to that rate of production by the end
of 2010.�
Mary Jo Carson, mayor of Wisconsin Rapids, underscored her
enthusiasm for the project, stating, �We are so pleased to see a
local entrepreneur move forward with this technology. This plant
will set Wisconsin Rapids apart and allow us to grow another whole
sector of businesses.�
About Energy Composites Corporation
ECC operates a world-class, automated 73,000 sq. ft.
climate-controlled manufacturing facility in Wisconsin Rapids, WI,
employing advanced composite materials to design, engineer and
manufacture complex composite structures, vessels and processing
systems for a range of clean-tech applications that include: wind
energy system components, flue gas desulfurization for power
plants, infrastructure for bio-fuel storage and processing,
infrastructure for managing waste water and drinking water storage,
advanced municipal utilities infrastructure, and caustic material
storage and handling systems for the petrochemical, mining and the
pulp and paper industries. ECC also provides 24/7 field service
crews nationwide for wind energy system composites maintenance,
repair and overhaul; industrial retrofit, shutdown and maintenance;
system installation; and repair and inspection services. For
additional information, visit our website at
www.energycompositescorp.com or contact Sam Fairchild at
1-800-787-5439.
Certain statements found in this press release may constitute
forward-looking statements. Forward-looking statements are based on
current expectations and include any statement that does not
directly relate to a current or historical fact. Such statements
are generally identifiable by the terminology used, such as
�anticipate,� �believe,� �intend,� �expect,� �plan,� or other
similar words. Our forward-looking statements in this release
generally relate to our expectations and beliefs with respect to
our growth and expansion activities and plans. Although it is not
possible to foresee all of the factors that may cause actual
results to differ from our forward-looking statements, such factors
include, among others, the following: (i) unforeseen delays, costs
or liabilities associated with our growth and expansion plans; (ii)
fluctuations in general economic conditions; and (iii) those risks
described from time to time in our reports to the Securities and
Exchange Commission. Investors should not consider any list of such
factors to be an exhaustive statement of all of the risks,
uncertainties or potentially inaccurate assumptions that could
cause our current expectations or beliefs to change. Shareholders
and other readers should not place undue reliance on
�forward-looking statements� as such statements speak only as of
the date of this release. We undertake no obligation to update
publicly or revise any forward-looking statements, other than as
required by law.
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