TechPrecision Corporation Receives $400,000 Order From New Tier-1 Customer

CENTER VALLEY, Pa., May 10, 2011 /PRNewswire/ -- TechPrecision Corporation (OTC Bulletin Board: TPCS) ("TechPrecision", or "the Company"), an industry leading 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 an order with a value of approximately $400,000 from a new Tier-1 customer for equipment which is used in the production of thin-film copper indium gallium diselenide (CIGS) photovoltaic (solar) panels. This represents the fourth new strategic Tier-1 customer signed by TechPrecision since the beginning of the Company's 2011 fiscal year.

"At the beginning of fiscal year 2011 we established a goal of signing four new Tier-1 customers, and I am proud that we have now signed our fourth Tier-1 customer," commented James Molinaro, CEO of TechPrecision Corporation. "This engagement further diversifies our customer base, particularly in the alternative energy vertical, and also increases our penetration in the rapidly growing solar energy market. This CIGS product complements our existing multi-crystalline and mono-crystalline solutions, and market trends indicate that CIGS technology will displace traditional thin-film technology in the next few years."

"Ranor's history of producing high-precision components with similar performance requirements gave us a distinct advantage to capture this business," commented Bill Hogenauer, Director of Business Development for TechPrecision. "$641 million was invested in U.S. solar companies in the first quarter of 2011 (according to the Cleantech Group,) and CIGS technology is a significant advance in thin-film photovoltaic materials. TechPrecision, with this strategic Tier-1 customer, will position itself as a leading supplier in the rapidly growing CIGS market."

The initial order is expected to ship by the third quarter of fiscal 2012.

About TechPrecision Corporation

TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., is an industry leading, global manufacturer of precision, large-scale fabricated and machined metal components and systems. These products are used in a variety of markets including: renewable energy (solar and wind), medical, nuclear, defense, industrial, and aerospace. TechPrecision's mission is to be the leading end-to-end global service provider to its markets by furnishing custom, fully integrated "turn-key" solutions for complete products that require custom fabrication, precision machining, assembly, integration, inspection, non-destructive evaluation 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.

SOURCE TechPrecision Corporation

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