Oxford, MS 8/30/2011 (PennyPayDay) -- TechPrecision Corporation (OTC:TPCS) today announced that it has received a purchase order from a new, European Tier-1 customer for its Wuxi Critical Mechanical Components Co., Ltd., subsidiary to produce high temperature vacuum chambers using advanced mono-crystalline cast technology. As I write, shares of TPCS were up 7 percent at $1.55 per share on light volume.Initial units from the purchase order will ship from the WCMC division in China during the fourth calendar quarter of 2011. High-volume production is forecasted to begin in first-half calendar 2012. The mono-cast process is leading-edge technology to compete against conventional CZ methods.
"We are excited to add production of high temperature vacuum chambers for mono-cast technology to our portfolio to support the solar and Sapphire market," commented James Molinaro, CEO of TechPrecision Corporation. "We envision mono-cast technology as having the ability to provide lower-cost mono wafers to the solar market and are pleased to be a part of this accelerating trend with our WCMC division. Our domestic and China teams continue to provide the optimal global solution for producing consistent quality and value-priced products for the Asia market. In addition, we are extremely pleased to add another Tier-1 customer to our roster of blue-chip companies whom we support with our exceptional manufacturing expertise."
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.
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