Kreisler Industrial Corporation enters into Long-Term Agreement

ELMWOOD PARK, N.J., Dec. 3, 2014 /PRNewswire/ -- Kreisler Manufacturing Corporation (OTC Pink: KRSL) announced today that its Kreisler Industrial Corporation subsidiary ("KIC") entered into a Long-Term Agreement ("LTA") with its largest customer. This customer describes these LTAs as being for "high-performing suppliers who will supply key parts and components for all…products…These suppliers have committed to the highest performance and ethical standards."

The term of the LTA is up to five years with a three year base term and two renewal terms that are subject to mutual agreement by both parties.  Selling prices are fixed during the base period. The current agreement includes over 150 different part numbers from both military and commercial engine programs and we expect that virtually all parts to be manufactured for this customer will be added to the LTA.  While the agreement is no guarantee of any specific sales orders or volumes, based on customer-supplied forecast demand quantities, the estimated five year value of the agreement is over $102 million.

About Kreisler Manufacturing Corporation
Kreisler is a manufacturer of precision metal components and assemblies for use in military and commercial aircraft engines and industrial gas turbines. These products primarily include tube and manifold assemblies. The Company includes its wholly-owned subsidiary, Kreisler Industrial Corporation, all located in Elmwood Park, New Jersey.

For more information please contact:
Ned Stern, Co-President & Chief Corporate Officer
Kreisler Manufacturing Corporation
Tel (201) 791-0700 X222 

Forward-Looking Statements

Certain oral statements made by management of Kreisler Manufacturing Corporation and Kreisler Industrial Corporation (collectively, the "Company" or "Kreisler") from time to time and certain statements contained herein with respect to results of operations and the business of the Company are "forward-looking statements." All such statements, other than statements of historical facts, including those regarding market trends, the Company's financial position and results of operations, business strategy, projected costs, and plans and objectives of management for future operations, are forward-looking statements. In general, such statements are identified by the use of forward-looking words or phrases including, but not limited to, "estimates," "intended," "will," "should," "may," "believes," "expects," "expected," "anticipates," and "anticipated" or the negative thereof or variations thereon or similar terminology. These forward-looking statements are based on the Company's current expectations. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These forward-looking statements represent the Company's current judgment. The Company disclaims any intent or obligation to update its forward looking statements. Because forward-looking statements involve risks and uncertainties, the Company's actual results could differ materially from those set forth in or underlying the forward-looking statements.

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SOURCE Kreisler Manufacturing Corporation