WESTMINSTER, Mass., Dec. 8, 2010 /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 a new purchase order to produce an assembly component for a new, advanced nuclear reactor for a major nuclear customer. The purchase order is expected to generate approximately $420,000 in revenue over the next six months and is an indication of progress within the industry on the construction of new advanced nuclear reactor designs.
"As one of only six large-scale ASME 'N' stamp certified machining and fabrication facilities in the U.S., we are well positioned to benefit from new nuclear power development as this new order demonstrates," said Mr. James Molinaro, Chief Executive Officer of TechPrecision Corporation. "We believe we are seeing the beginnings of a renaissance in nuclear power, due to the surging demand for electricity around the world and the growing need to curb fossil fuel emissions. Through our Ranor subsidiary, we bring unique capabilities and a long track record for quality to the table, and we look forward to participating in additional projects as this trend accelerates. Increasingly, we are advancing our business development dialogue with significant players within the nuclear and power generation sectors. Next week, TechPrecision and its subsidiary Ranor will be participating in the Nuclear Power International conference, (in booth 4770), co-located with the POWER-GEN International 2010 Conference, in Orlando, Florida as part of our ongoing commitment to the nuclear and power generation markets."
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), 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.
SOURCE TechPrecision Corporation