Business
Resin Systems Starts Commercial Shipments
Resin Systems Starts Commercial Shipments.
About this update from Real Estate Split Corp Class A
[{"type":"text","content":"\n\n\n\nCALGARY, Sept. 24 /CNW/ - Resin Systems Inc. ("RS") (RS - TSX / RSSYF -\nOTCBB), a developer of innovative advanced material products, today announced\nthat it has started shipments of RStandard(TM) utility poles from its contract\nmanufacturer's, Global Composite Manufacturing, Inc.("Global"), production\nfacility in Tilbury, Ontario. RS announced the start of commercial production\nby Global on August 27, 2007.\n\n\nThe resumption of predictable and increasing shipments to customers\nfollows the combined efforts of RS and Global to solve the previously\nannounced manufacturing challenges encountered by RS in 2006. RS now confirms\nthat these issues have been solved and improvements include:\n\n\n- eliminating production interruptions due to equipment and automation\n performance issues;\n- reducing material waste (loss of material during the manufacturing\n process) to negligible and sustainable targeted levels;\n- consistently maintaining scrap levels (finished product not meeting\n RS's quality control) within target levels; and\n- solving staff availability and cost issues by moving production to\n southwestern Ontario.\n\n\n\nGlobal is currently operating the first production cell with one shift\nand plans to add second and third shifts in the fourth quarter. Full\nproduction (three shifts) is expected by year-end. With consistent production\nresults and the start of shipments from the first cell, RS and Global are now\nfocused on implementing the improvements on the second production cell.\nCommissioning and production on the second cell is anticipated in the first of\nhalf of 2008.\n\n\n"Resuming shipments to customers is what we have worked so hard to\nachieve this year," said Paul Giannelia, president and chief executive\nofficer. "We are confident in reaching full production on the first cell by\nyear-end and commissioning the second cell in the first half of 2008."\n\n\nReader Advisory\n\n\nCertain information set forth in this MD&A, including management's\nassessment of RS's and Global Composite Manufacturing, Inc.'s future plans and\noperations, contains forward-looking statements which are based on RS's\ncurrent internal expectations, estimates, projections, assumptions and\nbeliefs, and which may prove to be incorrect. Some of the forward-looking\nstatements may...