TechPrecision (OTC:TPCS) Receives $2M in New Orders

Oxford, MS 3/29/2011 (Penny PayDay) -- TechPrecision Corporation (OTC:TPCS), a manufacturer of precision, large-scale fabricated and machined metal components and systems with customers in the alternative energy, cleantech, medical, nuclear, defense, aerospace and other commercial industries, today announced, in a press release, that it has received orders with a combined value of approximately $2.0 million for solar equipment to support solar wafer production, which will be manufactured by its U.S. based subsidiary, Ranor, Inc., and its China-based subsidiary, Wuxi Critical Mechanical Components Co., Ltd. As I write, shares of TechPrecision were up 5 percent at $1.60 per share on light volume of 3,500 shares compared to its average daily volume of 42,000 shares. The company has a market cap of $24 million and a 52-week range between $0.70 and $1.95 per share.

The orders are expected to ship by the end of the third quarter of calendar 2011.

"In step with rising global demand for solar energy, we have taken the necessary steps to provide our current and future customers with fabrication and machining capabilities in proximity to their end users, thus saving them time and money in the production of their required components," commented James Molinaro, CEO of TechPrecision Corporation. "The addition of our Wuxi Critical Mechanical Components Co., Ltd., in addition to our Ranor operations, expands our global production capabilities, provides more efficient supply chain management, and creates additional synergies inherent in utilizing both operations – all to the benefit of our growing global customer base."

TechPrecision, 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 learn more about the Company, please visit the corporate website at http://www.techprecision.com.

Distributed by IntelBuilder Social Media Platform