HANFORD, Calif., March 28, 2011 /PRNewswire/ -- Thresher Industries (Pink Sheets: THRR) announced today that it has signed mutual nondisclosure agreements with a Detroit based first tier automotive supplier. Thresher and the Detroit based company plan to co-development the ThermaLite metal matrix composite (MMC) for use in its manufacturing and distribution operations. Thresher has been working diligently on the new focus of the company and is proud to announce such a significant achievement. The automotive company believes this is a necessary step in strategically aligning itself with an advanced materials company, thus allowing them a competitive advantage. It is anticipated that Tom Flessner, CEO, will meet with the company in Detroit during the second week of April to forge ahead.
Tom Flessner, President and CEO of Thresher, said, "The next steps involve supplying data they require for each application and discussions with their metallurgist and ours to find a correct hybrid MMC that will match their requirements. This is one of the most exciting periods for Thresher since inception. We look forward to developing similar relationships with other select companies we see an opportunity to match our materials with."
The Detroit based company is willing to look out ten years at emerging technologies and they feel our materials are exciting and show great promise. This company is one of the largest in its industry, with over $3 billion in revenue, over 30,000 full time employees also it is in other industries such as agriculture and aerospace.
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.
SOURCE Thresher Industries, Inc.