Crescent Hill Capital Corp (OTCMKTS:DRMC) has announced that it would be adding carbon fiber materials to its line of manufacturing technology products. Carbon fiber has been experiencing a lot of demand for a variety of applications, owing to its light weight and tensile strength. Additionally, carbon fiber materials are replacing many others in manufacturing applications. DRMC aims to market its carbon fiber materials for a variety of applications in aerospace, automotive, amongst others.
DRMC expects the market for carbon fiber to grow by 17% annually for the next 5-years, which means that the market can be at $7.3 billion by 2017. The company CEO, Juan Carlos, stated that the company is in talks with manufacturers for the new additions. Mr. Carlos believes that the growing demand for carbon fiber indicates that the technology is here to stay and to remain at the forefront of manufacturing technology; it has to get the necessary know-how.
Additionally, the company updated the shareholders on its sales, stating that the company is making progress in its new-direction and is getting results as expected. DRMC has experienced an increase in sales, through a number of contracts for new products, resulting in a strong customer base. The company also revealed that it would meet its revenue predictions for 3Q2015, the first quarter after the company underwent a change in business direction and the executive management team.
As per DRMC, the company has been developing a strong customer base in the areas of aerospace, defense and commercial sectors. The company has especially been receiving a number of orders from Asia, while the domestic market has mostly been asking for aluminum. Additionally, the company expects to fulfill current orders by the end of 2015. Furthermore, the DRMC website is also being revamped to showcase the compnay’s new mission, products and services.
Crescent Hill Capital Corp (OTCMKTS:DRMC) finished trading at the end of the July 9 session after trading 19.88 million shares, to reach a closing price of $0.003 and registering a decline of 6.25%.