North Randall, Ohio, January 15, 2019 – Global PoleTrusion Group Corp (GPGC PinkSheets) announces that they have signed a commercial agreement with Pistar Holding S.A. (www.pistar.com.pa) for the distribution of GPGCs lightweight composite utility poles in Panama. GPGC has received an initial order of 1,466 composite lighting poles.
Pistar Holding has served the Panamanian electrical utility market at a national level since 2000, specializing in providing electrical materials and services, including project design, construction and inspection. They have selected GPGC as their supplier due to the high quality of their products. The pultrusion manufacturing technique used by GPGC produces poles that are smooth and uniform compared to structures that are produced by filament winding. This ensures that the products they supply to Pistar Holding will meet the exact strength specifications for the different classes of poles required for their projects.
“Our association with Pistar Holding will bring GPGC into the heart of the utilities market in Panama, for everything related to electricity distribution, low and high tension structures, as well as accessories. Pistar Holding and GPGC will also review the potential for co-developing solar and hydroelectric projects,” said Ramiro Guerrero, President and CEO of GPGC.
Dr. Augusto Robinson, president of Pistar Holding, added, “Using new composite materials for utility structures and solar technology is the future of the utility world in Panama. Having GPGC as our partner will allow Pistar Holding to be at the forefront of this technology, giving our clients the best value for their money.”
About Global PoleTrusion Group Corp.
GPGC provides composite utility poles and transmission structures that outperform their steel, wood and concrete counterparts. 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, effective, solutions to address the needs of utility companies. For more information, please visit www.globalpoletrusiongroup.com.
PoleTrusion Canada is GPGC’s engineering division. 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.
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.