Korean Construction Company Signs Agreement to Use CSI Technology Wednesday September 15, 6:00 am ET
LA JOLLA, Calif.--(BUSINESS WIRE)--Sept. 15, 2004--Composite Solutions, Inc. (CSI) (OTCBB:KIPS - News) announced that Composite Solutions, Korea (CSK) has concluded an agreement with Center Industry, a large commercial development and construction firm headquartered in Seoul. Under the terms of this agreement, CSK will supply CSI's patented Composite Shell System (CSS) for a 12-story, seven-million square foot manufacturing and steel distribution center to be constructed near Seoul. This $750M construction project is to be completed by December, 2007. Detailed specification of the number and type of CSS to be used will be determined as the design is finalized. CSK markets CSI technology in Korea under terms of an exclusive licensing agreement signed in 2003. The CSI-CSK partnership has completed four technology demonstration projects (total CSI revenue of $1.1M) in Korea over the past 16 months. CSS is a stay-in-place form for concrete piers, columns, and girders. It nearly eliminates the need for the reinforcing steel bars (rebar) that dominate the cost for these structural components.
"This agreement represents a major milestone in our effort to develop a large business around CSI's composite materials technology," said Mr. Frank Park, CSK Chief Executive Officer, "Center Industry is an innovative company interested in using new and better construction techniques, and so is an ideal customer for CSK to accelerate market acceptance of CSI's new technology."
"CSI has placed a high priority on efforts to gain credibility in the Korean market, and we are very pleased with the progress demonstrated by this agreement," said Dr. Thomas Bache, CSI President and Chief Executive Officer. "We look forward to supporting CSK and Center Industries as we define in detail how CSS will be used in this very large project."
CSI provides innovative new technology solutions for a wide variety of civil engineering and construction applications. The core technology is integration of fiber-reinforced polymer (FRP) composite materials with traditional construction materials for dramatic improvements in structural performance.
Spyder5000
posted
Keith,
Thats pretty good news!
As of June 30, 2004, 23,510,569 shares of Common Stock were outstanding.
O/S isn't that large either.
keithsan
posted
uusuallly a low volumer, 20% held by insiders....
Share Statistics Average Volume (3 month): 9,227 Average Volume (10 day): 2,000 Shares Outstanding: 23.51M Float: 18.80M % Held by Insiders: 20.04%
nice chart:looks like a big contract fof this company,.
posted
Holy Freakin ****,remember this one from last November went up like 6000% then.When will it stop????Should I jump on??
HitMe101
posted
Up Again...
Pezoi
posted
Can't pull it up on Ameritrade, you sure it's KIPS?
Pezoi
posted
It's KIPSE now.
Namoper150
posted
KIPSE now
HitMe101
posted
That title just isn't getting the attention...this could be a setup for another good run,especially if news pops up.What do ya think?
HitMe101
posted
Who would buy 100 shares ($8.00)
Namoper150
posted
The poor would.
HitMe101
posted
Interesting...
lilpennypincher
posted
Nice find Keith.....
Doctoall
posted
quote:Originally posted by HitMe101: Who would buy 100 shares ($8.00)
The MM's who send a signal that they need shares thats who.
Doctoall
posted
100 > I Need Shares 200 > I Need Shares But Do Not Take Down The PPS 300 > Take Down The PPS To Get Shares 400 > Trade Sideways For Supply & Demand 500 > Gap One Way Or The Other Up or Down
HitMe101
posted
(Thx Doc;I was thinkin it something along those lines,What do ya think next week will bring???It closed up so that is the 1st good sign.
HitMe101
posted
I'm still in this one...holding steady still,Look at those Level 2's.Shouldn't take much for this to move.Any thoughts yet?Thx.
posted ![[Smile]](smile.gif)
thats who.
![[Wink]](wink.gif)