First Production Purchase Orders from Multi-Million Dollar LOI Announced in August

WESTMINSTER, Mass., Sept. 8 /PRNewswire/ -- TechPrecision Corporation (OTC Bulletin Board: TPCS) ("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 it has received $2.9 million of purchase orders from the Tier-1 clean technology customer it signed an letter of intent with in August. This represents the first production purchase orders from the multi-million dollar LOI and represents further diversification of the Company's revenue base.

"TechPrecision continues to leverage its expertise in precision large-scale metal fabrication, machining and assembly for the clean technology industry, and an increase in spending within this important vertical is helping drive our growth," said Mr. James Molinaro, CEO of TechPrecision Corporation. "This purchase order builds upon the project engineering PO, and indicates that we remain on track to ship higher volumes in late 2011 or early 2012, after successful testing. We look forward to a long and prosperous relationship with this Tier-1 customer, resulting in repeat orders increasing in magnitude."

TechPrecision's Ranor subsidiary will produce the process chambers for a new point-of-use industrial gas generation system.  

About TechPrecision Corporation

TechPrecision Corporation, through its wholly-owned subsidiary Ranor, Inc., manufactures metal fabricated and machined precision components and equipment. These products are used in a variety of markets including: alternative energy, medical, nuclear, defense, industrial, and aerospace to name a few. TechPrecision's goal is to be an end-to-end 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.

SOURCE TechPrecision Corporation

Back to top

RELATED LINKS
http://www.techprecision.com