TechPrecision Enters Into Exclusive Manufacturing Contract With Sionix Corporation
2010年2月23日 - 10:00PM
PRニュース・ワイアー (英語)
WESTMINSTER, Mass., Feb. 23 /PRNewswire-FirstCall/ -- TechPrecision
Corporation (OTC:TPCS) (BULLETIN BOARD: TPCS) ("TechPrecision", or
"the Company"), a leading manufacturer of large-scale,
high-precision machined metal fabrications with customers in the
alternative energy, medical, nuclear, defense, aerospace and other
commercial industries, today announced the execution of a
three-year exclusive U.S. agreement to manufacture DAF-based
(dissolved air flotation) water treatment systems for Sionix
Corporation (OTC Bulletin Board: SINX). During more than 50 years
of operation, TechPrecision and its subsidiary have participated in
a number of high-visibility, successful manufacturing and product
development efforts spanning many of the same markets Sionix
penetrates. In addition, TechPrecision's expansive facilities
provide the agile workspace required for production of Sionix
products. Louis A. Winoski, CEO of TechPrecision, commented,
"TechPrecision is honored and excited to be chosen by Sionix to
provide their DAF-based water treatment systems. We recognize the
unmet need for this technology in the marketplace, and are eager to
enter this new vertical and help Sionix accelerate its business.
Part of our business model involves entering new, potentially
high-value market verticals and partnering with enterprises which
value, and thus seek to leverage, our manufacturing prowess. This
new relationship with Sionix is a perfect example of this strategy
being executed. We look forward to a mutually profitable
relationship that maximizes our capabilities while providing Sionix
customers with the technology they need within the two to three
month delivery timelines required to meet initial Sionix customer
orders." Sionix DAF water treatment systems target a wide range of
niche applications for a shipping container-mounted water
purification system. Sionix equipment enables water purification at
any remote site or location either with limited access or
insufficient infrastructure for permanent water purification
facilities. Its portability and turnkey approach make it an ideal
solution for remote and other situations. Potential applications
include: oil and gas drilling; treatment of abandoned mine
discharge; emergency and disaster relief through private
contractors as well as government entities such as FEMA and
military in forward deployments; developing nations and remote
villages in second and third world countries; various industrial
applications including cosmetics, pharmaceutical, chemical, food
processing, and hospitals; agricultural applications including
irrigation and recycling of water; and use by small municipalities
seeking wastewater treatment facilities on limited municipal
budgets. The total market size exceeds $1 billion if the technology
becomes widely adopted within these target markets. The initial
agreement calls for TechPrecision to manufacture 15-25 units in the
first year. The agreement has significant upside potential to
TechPrecision if market penetration and uptake rates exceed initial
estimates. James R. Currier, the Chairman and CEO of Sionix,
commented, "TechPrecision's manufacturing agility and
responsiveness are perfectly suited for our needs as Sionix enters
this exciting growth stage. Sionix products and technology fit well
within TechPrecision's manufacturing expertise as an industry
leading turn-key solutions provider. The agreement with
TechPrecision will provide the necessary manufacturing capital and
supply chain assurance required for Sionix to quickly respond to
the growing market for its water treatment systems. TechPrecision's
long record of high quality, attention to detail, and
industry-leading customer service speaks for itself, and will
provide Sionix with the flexibility to execute other aspects of our
growth strategy." About TechPrecision Corporation TechPrecision
Corporation, through its wholly-owned subsidiary Ranor, Inc.,
manufactures metal fabricated and machined precision components and
equipment. These products are used in a variety of markets
including: alternative energy, medical, nuclear, defense,
industrial, and aerospace. TechPrecision's goal is to be an
end-to-end 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 http://www.techprecision.com/.
Information on the Company's website or any other website does not
constitute a part of this press release. About Sionix: Based in
Santa Monica, California, Sionix designs innovative and advanced
water treatment systems intended for use in defense, government
facilities, and emergency water supplies during natural disasters,
housing development projects, and various industrial processes.
These systems can be used to remove salt, oil, waste and other
infectious bacteria from contaminated resources. They are also used
as pre-treatment for reverse osmosis and other membrane
applications. Industries involved in dairy, agribusiness, meat
processing, bottling water, mining, poultry operations, and many
others can benefit from a cost-effective, easily-maintained,
portable water treatment system provided by Sionix. Sionix
specializes in the treatment of water contaminated through the
process of subterranean fracturing used by oil and gas drillers,
locating Sionix units adjacent to drilling sites to eliminate
expensive, unnecessary public exposure to toxic waste products by
transporting contaminated wastewater to remote locales for
treatment. Using our patented dissolved air flotation ("DAF")
technology packaged in a mobile shipping container, we create
bubbling dynamics that elevate organic contaminants to the surface
where 99.95% are skimmed off. To learn more about Sionix, please
visit our website at http://www.sionix.com/. Information on the
Sionix website or any other website does not constitute a part of
this press release. Safe Harbor Statement This release contains
certain "forward-looking statements" relating to the business of
the Company and its subsidiary companies. These forward looking
statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions.
Such forward-looking statements involve known and unknown risks and
uncertainties that may cause actual results to be materially
different from those described herein as anticipated, believed,
estimated or expected. Investors should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. The company's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including the
Company's ability to generate business from long-term contracts
rather than individual purchase orders, its dependence upon a
limited number of customers, its ability to successfully bid on
projects, and other risks discussed in the company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov/). All
forward-looking statements attributable to the Company or to
persons acting on its behalf are expressly qualified in their
entirety by these factors other than as required under the
securities laws. The Company does not assume a duty to update these
forward-looking statements. DATASOURCE: TechPrecision Corporation
CONTACT: Mr. Richard F. Fitzgerald, Chief Financial Officer of
TechPrecision Corporation, +1-610-246-2116, ; or Investor
Relations, Brett Maas, +1-646-536-7331, , or Cameron Donahue,
+1-651-653-1854, , both of Hayden IR, for TechPrecision Corporation
Web Site: http://www.techprecision.com/ http://www.sionix.com/
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