New $400K Order for TechPrecision (OTC:TPCS)

Lincoln, NE 5/11/2011 (PennyPayDay) -- TechPrecision Corporation (OTC:TPCS) yesterday announced, in a press release, that it has received an order with a value of approximately $400,000 from a new Tier-1 customer for equipment which is used in the production of thin-film copper indium gallium diselenide (CIGS) photovoltaic (solar) panels. This represents the fourth new strategic Tier-1 customer signed by TechPrecision since the beginning of the Company's 2011 fiscal year.

"At the beginning of fiscal year 2011 we established a goal of signing four new Tier-1 customers, and I am proud that we have now signed our fourth Tier-1 customer," commented James Molinaro, CEO of TechPrecision Corporation. "This engagement further diversifies our customer base, particularly in the alternative energy vertical, and also increases our penetration in the rapidly growing solar energy market. This CIGS product complements our existing multi-crystalline and mono-crystalline solutions, and market trends indicate that CIGS technology will displace traditional thin-film technology in the next few years."

"Ranor's history of producing high-precision components with similar performance requirements gave us a distinct advantage to capture this business," commented Bill Hogenauer, Director of Business Development for TechPrecision. "$641 million was invested in U.S. solar companies in the first quarter of 2011 (according to the Cleantech Group,) and CIGS technology is a significant advance in thin-film photovoltaic materials. TechPrecision, with this strategic Tier-1 customer, will position itself as a leading supplier in the rapidly growing CIGS market."

The initial order is expected to ship by the third quarter of fiscal 2012.

TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., is a global manufacturer of precision, large-scale fabricated and machined metal components and systems. These products are used in a variety of markets including: renewable 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.

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