Business
Resin Systems' Production Up 400 percent
Resin Systems' Production Up 400 percent.
About this update from Real Estate Split Corp Class A
[{"type":"text","content":"\n\n\n\n\nEDMONTON, Sept. 6 /CNW/ - Resin Systems Inc. (RS - TSX / RSSYF - OTCBB),\na composite products innovator, through its operating division, RS\nTechnologies (collectively \"RS\"), has achieved consistent improvements in the\nproduction of its RStandard(TM) composite utility poles since the second\nquarter. These improvements are of significance to warrant their timely\nrelease.\nAs part of its second quarter update in mid-August, RS outlined the\nfollowing production issues that negatively impacted its results during that\nquarter:\n\n>\n\nRS's stabilized and consistent manufacturing process now allows it to\nproceed with doubling its production crews to achieve 24 hour, seven day a\nweek operations of all cells in the fourth quarter. This demonstrated progress\nhas also enabled RS to consolidate all of its production operations in\nCalgary, with the goal of further increasing overall efficiency and reducing\noperating overhead.\nRS continues to focus on implementing its plan to solve remaining\nequipment completion delays and manage the ongoing labour issues while\nincreasing production levels and efficiencies.\n\"The advances achieved in production are resulting in marked improvement\nin our operating results and will allow us to move forward with our business\nplan,\" said Greg Pendura, Chief Executive Officer and President. \"With the\nCalgary operations showing steady progress, we are several weeks closer to\nproceeding with our planned production capacity growth plans.\"\nWith the production progress shown through August, RS expects revenues of\napproximately $3 million in the third quarter, $5 million in the fourth\nquarter and continued revenue growth from those levels in 2007. In conjunction\nwith these significant improvements, RS continues to evaluate its optimal\ngo-forward financing strategy, which it will communicate separately at the\nappropriate time.\nFinally, RS is completing equipment design for its next production cells\nand continued progress at RS's production facility will allow RS to execute\nits plan for domestic and global growth in the RStandard business.\n\nReader Advisory\n\nCertain information set forth in this news release, including\nmanagement's assessment of RS's future plans, operations, financial guidance\nand long-term growth prospects, contains forward-looking statements which are\nb...