ICI secures $80-million composites deal
by Canadian Manufacturing Daily Staff
Innovative Composites Intl. Inc. will supply its Structure Lite sound panels to road maintenance firm Fence-Crete Holdings Inc. in an exclusive eight-year contract worth $10 million per year.
TORONTO—Innovative Composites Intl. Inc. will supply its Structure Lite sound panels to road maintenance firm Fence-Crete Holdings Inc. in an exclusive eight-year contract worth $10 million per year.
Fence-Crete supplies commercial fencing across Canada via a dealer network. The company recently presented a prototype sound barrier engineered by ICI to the Ministry of Transportation of Ontario and begin finalizing product design to meet MTO certification criteria.
The sound barriers are a lightweight, durable system to replace current materials and technologies used to protect neighbourhoods from highway noise.
Fence-Crete says 87 per cent of all highway sound barriers installed in North America are made of concrete. The firm contends the ICI composite material significantly lowers installation and maintenance costs; speeds assembly; and improves durability.
ICI plans to make the highway noise barriers out of recycled PET and other common plastics.
“The highway sound barrier market is growing quickly and having a superior product is imperative to maintain and gain market share,” said Fence-Crete President Tony Marra. “ICI’s panels offer significant cost and quality advantages compared to concrete barriers and we are excited about the sales potential in Canada and beyond.”
Headquartered in Toronto, Innovative Composite International engineers and manufactures composite products targeted at the multi-billion dollar transportation and affordable housing markets.