Highland Industries and Utility Composite Solutions International Announce Manufacturing Agreement
Exclusive Agreement for Intelli-Pole® Composite Poles for Utility and Mobile Telecommunication Cell Tower Markets
(KERNERSVILLE, NC – November 17, 2014) – Highland Industries, Inc. and Utility Composite Solutions International, Inc. (UCSI) of Dayton, Ohio, have announced a strategic business agreement for the purpose of expanding U.S. manufacturing capacity for Intelli-Pole® composite pole products for electric utility and mobile telecommunication cell tower applications.
Highland and UCSU have signed a 10-year exclusive manufacturing and license agreement under which Highland will co-manufacture and supply UCSI with Intelli-Pole® products for UCSI sales to its customers in the U.S., Canada, Mexico, and potentially select other international territories.
UCSI will continue to manufacture Intelli-Pole® products in its existing Dayton, Ohio, manufacturing facility. UCSI and Highland will expand their respective facilities in the future to meet increasing customer demand, and share the manufacturing equally.
As part of the agreement, Highland has made a significant minority investment in UCSI under terms of the current UCSI Round Two Investment Offering.
Lyle Dunbar, UCSI's CEO, stated, “UCSI is very pleased to enter into this strategic business agreement with Highland, which will provide a significant increase in our manufacturing capacity to meet our projected Intelli-Pole® customer orders in 2015 and beyond. The significant equity investment by Highland will provide UCSI capital to expand its manufacturing facilities and finance expanded operations in our Dayton, OH operations.”
James Griffith, Highland's Vice President of Industrial Operations, added, "This exclusive manufacturing and license agreement with UCSI is a key part of Highland's strategic plan to expand the manufacturing of composite structural products at our composites manufacturing facility in Statesville, NC.”
David New, Vice President -- Highland Composites