Thursday, June 16, 2011

ARTICLE - BUILDING BACK BETTER COMMUNITIES EXPO

BUILDING BACK BETTER COMMUNITIES EXPO STARTS IN HAITI
(Digital Journal) - Canada News Wire

$4 billion building project gets underway in Port-au-Prince

TORONTO - Innovative Composites International Inc. (TSXV: IC) ("ICI" the "Company"), announced today that the Expo showcasing homes to be built as part of the reconstruction efforts in Haiti has officially opened in Port-au-Prince. The recently elected Haitian President Michel Martelly and former US President Bill Clinton attended the opening ceremony and toured the Expo grounds. The Expo is slated to run through August 2011.

ICI together with Barclays Gedi Group (the "Consortium"), was named finalist of the Building Back Better Communities ("BBBC") housing project and invited to participate in the Expo. The home showcased by the Consortium was assembled in just two days and is hurricane and earthquake resistant, as well as rot, mould and insect proof. It has already drawn a lot of attention from Haitian and UN officials who are comparing the speed of assembly to competing conventionally built homes that took up to three weeks to construct.

At the request from BBBC organizers the Consortium has submitted detailed information confirming that it has the ability to deliver 5,000+ housing units annually and has provided fabrication, delivery and assembly schedules. In addition, the Consortium has provided details on how it intends to involve local labour in the delivery and assembly of the housing units and how the design of the units will reflect Haitian architectural and cultural traditions. BBBC organizers re-iterated their commitment to make decisions at the Expo and award contracts in the summer of 2011.

"We expect the approximately $4 billion project to be awarded to a handful of companies and we have not seen another product at the Expo allowing for quick, large scale construction. Given the unique characteristics and the low-cost of the ICI housing product we believe that the Consortium is very well positioned to play an important role in the reconstruction of Haiti," said Wayne Gerl, President of Barclays Gedi Group.

"It has been 18 months since the earthquake and people are still living in tents. The newly elected Haitian government and the international community are under immense pressure to start deploying the $10 billion pledged for the reconstruction efforts. ICI and its consortium partners are offering a solution that not only can be rolled out quickly at a large scale but also offers hurricane and earthquake protection, something that the Haitian people are desperately looking for," said ICI President and CEO Terry Ball.

About Barclay's Gedi Group.
In 2003, the principals of Barclays Group International, Gedi Construction and Gerl Construction merged to form the Barclays Gedi Group (BGG), an international construction consortium with over 100 years of combined experience delivering large-scale development projects across the globe. Recently, BGG has been expanding rapidly in emerging economies with construction projects and operations in Algeria, Libya, Qatar and Tunisia.

To date, Barclays Gedi Group has implemented more than 226 projects internationally. Projects range from retail centers to large-scale residential projects in all corners of the world.

About Innovative Composites International Inc.
Headquartered in Toronto, Canada, ICI is a high-tech engineering and manufacturing company established in 2007 by a group of entrepreneurs with a successful track record in commercializing advanced materials.

The Company is currently focused in two areas: Structure Lite™ panels, a unique line of application-ready structural composite panels and Hero 451™, a line of environmentally friendly fire inhibitors and suppressant. ICI's goal is to deliver products that exceed industry standards with greater durability, strength, flexibility and safety.

ICI is partnering directly with leaders in its target industries as it considers it to be the fastest way to bring products to market. ICI's customized solutions are intended to provide partners with material advantages over their competitors.

To find out more about Innovative Composites International Inc. (IC: TSX-V), please visit our website at http://www.innovativecompositesinc.com

No comments: