HANFORD, Calif., March 30, 2011 /PRNewswire/ -- Thresher Industries (Pink Sheets: THRR) announced today that pursuant to signing mutual nondisclosure agreements with a Detroit, Michigan first tier automotive supplier earlier this week, plans are underway to develop a hybrid metal matrix composite (MMC) using Thresher's ThermaLite technology.
The two companies have set up discussions to create a potentially patentable hybrid MMC based on Thresher's unique ThermaLite MMC platform technology. MMCs are used in a variety of parts in the automotive industry, "We've waited patiently for the U.S. automotive industry to make a resurgence, and Detroit has let us know that the time has come," said Tom Flessner, CEO of Thresher. "By intricately modifying the alloy material, automotive customers can achieve the exact requirements of its pistons, as can be done with other applications. Thresher sees this first alliance as so significant that it could potentially redefine the manufacture and material used to make pistons. Thresher will continue to announce updates on this strategic relationship and other automotive customers who have contacted Thresher to-date."
"Serious and significant interest from several large automotive suppliers throughout the United States, like the one we have identified in Detroit, continues to grow. We are very encouraged with the work we have planned with this world-class automotive supplier that is one of the industry's largest with over $3 Billion in annual sales."
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