Business
RS Announces Contract with HD Supply Utilities
RS Announces Contract with HD Supply Utilities
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[{"type":"text","content":"\n\n\n\nNov. 17, 2009 (Canada NewsWire Group) -- CALGARY, Nov. 17 /CNW/ -- Resin Systems Inc. (\"RS\") (RS - TSX), a technology innovator and manufacturer of advanced composite products for infrastructure markets, has entered into a distribution agreement with HD Supply Utilities, North America's largest electric utilities distributor.Under the agreement, HD Supply Utilities is appointed as the exclusive distributor of RStandard(R) poles within the United States, Canada, Mexico, Bermuda, the Bahamas and all of the Caribbean Islands. The agreement is for an initial term of five years and may be renewed for additional terms.\"The RStandard composite pole meets an increasing need of our utility customers for poles that are light weight and offer ease of transportation and installation, long life, safety and low environmental impact,\" said Rick McClure, president, HD Supply Utilities. \"Together, our companies offer an innovative solution that will meet growing demand for utility poles, especially in light of new transmission and distribution infrastructure projects funded through the stimulus plan.\"\"This multiyear agreement includes a volume commitment by HD Supply Utilities that meets our current plant capacity,\" said Paul Giannelia, president and chief executive officer, RS. \"This achievement creates a stable foundation for our manufacturing team and allows us to turn our attention to new plant capacity increases required for our growth.\"The agreement includes an initial purchase order for RStandard poles with a value exceeding $100 million USD over the first half of the initial term, subject to applicable terms and conditions. Other terms of the deal were not disclosed.About HD Supply UtilitiesAs North America's largest electric utilities distributor, HD Supply Utilities (www.hdsupply.com/utilities) is a business of HD Supply (www.hdsupply.com), a leading wholesale distribution company, providing a broad range of products and services to professional customers in the infrastructure & energy, maintenance, repair & improvement and specialty construction markets. With a diverse portfolio of market-leading businesses, HD Supply is one of the largest diversified wholesale distributors in North America, with approximately 900 locations.About RSRS is an ISO 9001:2008 certified technology innovator that develops advanced composite...