HANFORD, Calif., March 23, 2011 /PRNewswire/ -- Thresher Industries (Pink Sheets :THRR ) announced today that it is leveraging its proprietary ThermaLite metal matrix composites (MMC) and related processes to pursue sales opportunities in the automotive and light truck piston industry. As previously announced, Thresher is shifting its business focus from a conventional foundry, to a supplier of hybrid MMC alloys that will be used in production prototypes and beta site development to serve multiple verticals and market applications worldwide.
Tom Flessner, President and CEO of Thresher, said, "The automotive industry is clearly on a path of recovery and offers Thresher a unique opportunity to supply it with a hybrid of its ThermaLite alloy that yields specific requirements not available from any other materials available to the these companies. Thresher's intent is to partner with manufacturers and develop this hybrid alloy for pistons. Then assist in the transfer of the work to the large scale production facilities as volumes increases; thus allowing Thresher to participate in the significant volume requirements through the sale of their proprietary ThermaLite alloy and significant revenue growth without having to incur the significant capital obligations. Since 2009, we have allocated financial resources to further develop our composite alloys; and have found that our cast material has certain properties that are ideally suited for this segment of the automotive market." According to a Business Review article on January 4, 2011, auto production in North America grew 37% to about 11.8 million units in 2010 over 2009. Projections for 2011 and 2012 are 12.4 million and 13.5 million, respectively.
"Our goal is to work with both first-tier automotive and aftermarket customers to develop prototypes and provide small-batch production for our lower volume customers. Higher volume customers with be provided with training and support on our materials and processes. Thresher has developed not just the material, but a system to produce the material, cast the product and finish the casting to meet the quality and specifics of the customer," added 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.
SOURCE Thresher Industries