Thresher Industries Inc. Initiates Procedures for Sale

HANFORD, Calif, March 17 /PRNewswire-FirstCall/ -- Thresher CEO Tom Flessner was happy to announce that "as of March 16, 2010 the Board decided to initiate procedures to finalize the sale of the company in an accelerated manner." On March 9, 2010, Thresher Industries received a proposal to purchase their company. The proposition was later approved and disclosed preceding the Board of Directors of Thresher - Industries (Pink Sheets: THRR) special meeting. The Board of Directors opinion is that this offer is exorbitantly admirable with a proposed settlement that exceeds the current market price range. Thresher Industries has been advised by their Corporate Attorneys that the approval to act is not necessary by shareholders and that the Board of Directors has in fact been in contact with the majority shareholders and party's have agreed to the offer price of $0.01 for any and all outstanding shares. Thresher would like completion and closing of the deal before April 10, 2010.

About Thresher Industries, Inc.

Thresher Industries, Inc. is a leading manufacturer of low carbon footprint conventional and custom machined die castings made from 100% recycled aluminum and metal matrix composites. Based in Hanford, California, the Company operates an ISO 9000-compliant, "green" foundry that integrates bio-degradable technologies and processes to lower the economic and environmental costs of production. Thresher offers full engineering support, designing, and prototype development to a variety of industries including: agriculture, aerospace, defense, transportation, and automotive in the U.S. and Europe. For more information, visit http://www.thresherindustries.com.

Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

SOURCE Thresher Industries, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED