TechPrecision Corporation Continues Accelerated Booking Trend with $1.25 Million in New Orders
Orders Reflect Continued Expansion of Diversified Platform
WESTMINSTER, Mass., March 15, 2011 - TechPrecision Corporation (OTC Bulletin Board: TPCS) ("TechPrecision", or "the Company"), a leading manufacturer of large-scale, high-precision machine metal fabrications with customers in the alternative energy, medical, nuclear, defense, aerospace and other commercial industries, today announced that it has received three notable orders with a combined value of $1.25 million in a range of industries including defense, medical and commercial.
The orders include:
o A $450,000 purchase order from a defense-related customer, expected to
ship by the fourth quarter of 2011;
o A $250,000 purchase order from a medical technology customer, which is
expected to ship by the third quarter of 2011; and,
o $550,000 in combined purchase orders from a leading, multi-billion
dollar performance materials company to manufacture production vessels
for their largest selling product. This order is expected to ship by
the end of the third quarter of 2011.
"Our focus on diversification and our key verticals has generated additional orders as we continue to expand our footprint and secure incremental business with several existing key customers," commented James Molinaro, CEO of TechPrecision Corporation. "These orders represent our increasingly successful strategy of developing high level supply chain relationships in the defense sector, critical follow-on orders with a medical device customer, and an order to deliver the first series of next generation production systems for a customer in our growing commercial vertical. We are pleased that our recent achievements are meeting our expectations for enhanced revenue generation within the wide range of market verticals represented by our customers."
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 www.techprecision.com. Information on the Company's website or any other website does not constitute a part of this press release.
SOURCE TechPrecision Corporation
CONTACT: Mr. Richard F. Fitzgerald, Chief Financial Officer of TechPrecision Corporation, +1-610-246-2116, Fitzgeraldr@techprecision.com; or Investor Relations, Brett Maas of Hayden IR, +1-646-536-7331, brett@haydenir.com, for TechPrecision Corporation
Web Site: www.techprecision.com/
