TechPrecision Corporation Receives $1.0 Million Defense Contract Order
NAVSEA Certification Essential to the Contract Win
On Wednesday December 15, 2010, 8:00 am EST
WESTMINSTER, Mass., Dec. 15, 2010 /PRNewswire/ -- TechPrecision Corporation (OTC Bulletin Board:TPCS.ob - News) ("TechPrecision", or "the Company"), a leading manufacturer of large-scale, high-precision machined metal fabrications with customers in the alternative energy, medical, nuclear, defense, aerospace and other commercial industries, today announced that it has received a $1.0 million defense contract order from a long-time customer for precision fabricated and machined components that requires the NAVSEA certification. The order is expected to commence production in first quarter of calendar 2011.
"This latest win validates the continuing success of efforts to focus on customer opportunities that present significant potential for long-term production programs and profitable growth in the key defense industries," said Mr. James Molinaro, Chief Executive Officer of TechPrecision Corporation. "Our Ranor subsidiary is NAVSEA certified, which was an essential component of this contract win. It demonstrates that we are qualified in delivering large-scale projects with tight tolerance levels that meet the Navy's strict reliability requirements with the ability to engineer requisite tooling and entire manufacturing processes within a production facility that is supported by a highly skilled work force."
About TechPrecision Corporation
TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., globally manufactures large-scale, metal fabricated and machined precision components and equipment. These products are used in a variety of markets including: alternative energy (Solar and Wind), medical, nuclear, defense, industrial, and aerospace to name a few. TechPrecision's goal is to be an end-to-end global service provider to its customers by furnishing customized and integrated "turn-key" solutions for completed products requiring custom fabrication and machining, assembly, inspection and testing. To learn more about the Company, please visit the corporate website at techprecision.com. Information on the Company's website or any other website does not constitute a part of this press release.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the Company's ability to generate business from long-term contracts rather than individual purchase orders, its dependence upon a limited number of customers, its ability to successfully bid on projects, and other risks discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
Company Contact:
Investor Relations Contact:
Mr. Richard F. Fitzgerald
Hayden IR
Chief Financial Officer
Brett Maas
TechPrecision Corporation
Phone: 646-536-7331
Tel: 1-610-246-2116
Email: brett@haydenir.com
Email: Fitzgeraldr@techprecision.com
www.techprecision.com
|
