TechPrecision Corporation Receives $1.3 Million in New Orders from Existing Customers
Defense and Commercial/Industrial Orders Increase Diversification and Expand Penetration into Key Verticals
CENTER VALLEY, Pa., June 23, 2011 /PRNewswire/ -- TechPrecision Corporation (OTC Bulletin Board: TPCS) ("TechPrecision", or "the Company"), an industry leading global manufacturer of precision large-scale, fabricated and machined metal components and systems with customers in the alternative energy, cleantech, medical, nuclear, defense, aerospace and other commercial industries, today announced that it has received orders from two current customers with a combined value of approximately $1.3 million. The orders include:
- $800,000 in orders for a naval defense customer. This order is expected to ship during TechPrecision's third fiscal 2012 quarter.
- $500,000 in orders from a commercial/industrial customer. This order is expected to ship during TechPrecision's third fiscal 2012 quarter.
"We continue to make incremental progress in our efforts to expand our revenues in these strategic verticals, with the goal of solidifying our platform for sustainable, predictable growth," commented James Molinaro, CEO of TechPrecision Corporation. "These orders help to increase our penetration of rapidly growing market verticals outside of cleantech and add to our existing reputation for high quality workmanship."
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), cleantech, 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 http://www.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- (484) 693-1702 |
Email: [email protected] |
|
Email: [email protected] |
||
SOURCE TechPrecision Corporation
Share this article