Global PoleTrusion Group Corp. is Obtaining Definitive Agreement And Certification For Composite Pole Distribution Project in East Africa
MIAMI, FL / ACCESSWIRE / June 26, 2019 / Global PoleTrusion Group Corp. (OTC PINK: GPGC) is pleased to announce that it is on schedule to have a definitive agreement completed for their partnership with Kenyan company Avalon Assure for the manufacturing, sales and export of composite utility poles in East Africa. With this joint venture, the companies estimate revenues of approximately $200 million USD, with sales of around 100,000 poles over the next three years.
GPGC and Avalon Assure have submitted the required documentation to start the approval process for the composite poles with the Kenya Bureau of Standards (KEBS). Certification and approvals are expected to be obtained for the completion of the composite pole manufacturing facility in Kenya, which will allow for the distribution of poles throughout East Africa. “Completing the certification process with KEBS will allow our poles to be marketed and widely accepted in the entire East African market,” said Ramiro Guerrero, President and CEO of GPGC.
The economy of East Africa is growing rapidly. The East African Community (EAC), an intergovernmental organization composed of 6 countries including Kenya and Tanzania, has launched a common market for goods, labor and capital, which will permit the delivery of GPGC’s products within the region without any stifling tariffs.
GPGC and Avalon Assure have been working collectively and presenting their composite pole solutions to the Tanzania Electric Supply Company and the Uganda Electric Transmission Company. The response has been positive, and GPGC trusts that it will obtain orders to coincide with the development of the manufacturing facility in Kenya. “We have been well received and we are looking forward to providing environmentally friendly solutions to East Africa’s electrical supply companies,” stated Kal Matharu, President of Avalon Assure.
About Global PoleTrusion Group Corp.
GPGC is an engineering firm that fulfills the needs of telecommunications and utility companies, providing composite poles, towers and renewable energy solutions. Their composite structures outperform their steel, wood and concrete counterparts as they are stronger, lighter, easier to install and environmentally safe. With its advanced engineering and manufacturing capabilities, GPGC is at the forefront of providing creative and effective solutions to address the needs of utility companies. In Panama, GPGC is setting up a biomass facility to generate electrical energy within the Barú region in the province of Chiriquí.
PoleTrusion Canada provides engineering services for GPGC. They create the latest state-of-the-art composite structures, custom-designed based on the needs of their clients. The company is part of the Advanced Composite Materials for Civil Structures Chair at the University of Sherbrooke. Dr. Benmokrane, a director of the Chair, is on the technical board at GPGC.
To learn more about GPGC, visit www.globalpoletrusiongroup.com.
This news release contains « forward-looking statements », as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
SOURCE: Global PoleTrusion Group Corp.
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