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ENCC Encompass Compliance Corporation (CE)

0.0001
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Encompass Compliance Corporation (CE) USOTC:ENCC OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0001 0.00 01:00:00

Energy Composites Corporation Signs Letter of Intent to Acquire Land for Blade Factory

02/04/2009 2:30pm

Business Wire


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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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