Tom Flessner, President and CEO of Thresher, explained, "In the past, Thresher has operated as an aluminum foundry supplying conventional cast products and some metal matrix composites that are typically low-margin products. Our re-branding and restructuring positions us as a composite aluminum company and shifts our focus to the production of these specific MMC's that are designed specifically for the customers' needs and further assisting the customer in prototyping of these high-margin, niche products that they will then produce in high volumes elsewhere using our materials and paying Thresher a licensing fee."
"Developed over the past six months, our strategy focuses on licensing our fully developed ThermaLite technology. ThermaLite can reduce the weight the part weight by half, while retaining the high-quality, strength and product integrity that our customers have come to rely on. Based on not only on customers' feedback but on application analysis, we have identified the top five applications for ThermaLite metal matrix alloys. We have assigned sales representatives in each respective market to introduce ThermaLite to the potential key customers in those applications to establish potential new partnerships.
"Thresher's brand name is strong in the MMC industry due to its almost 20 years of experience working with MMC aluminum castings, and we are excited to execute this new direction. I have a prominent background in the composite aluminum industry, dating back from before the production of the engine cradle for the first GM EV-1 electric vehicle, for which I won a design award. We already have begun to see a change in how we are perceived by our customers. We believe we can generate significant revenues coupled with even higher profit margins for our Company, while creating significant competitive advantages for our customers. This plan puts us on track to increase shareholder value in 2011 and beyond," concluded Flessner.
About Thresher Industries
Based in Hanford, California, Thresher 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.