Feb 25 2011
TechPrecision, producer of high-precision machine metal assemblies for renewable energy, nuclear, medical, aerospace, defense clients and other industries, declared that it has obtained an order worth around $1.2 million from a mono-crystalline wafer maker and original equipment manufacturer (OEM) for the supply of mono-crystalline chambers. For TechPrecision this is the third new strategic tier-1 client during the current financial year.
The customer whose identity is not revealed has also indicated that the company needs over 100 units in 2012 and more than 200 such units in the year 2013.TechPrecision is expected to complete a major portion of the order work through its subsidiary company, Wuxi Critical Mechanical Components (WCMC). TechPrecision anticipates that the volume of the work in another two or three year period has the potential to surpass the proceeds earned by it from its current biggest client. TechPrecision has plans to involve its subsidiary companies WCMC and Ranor to manufacture mono-crystalline chambers for this client.
According to James Molinaro, TechPrecision Corporation’s CEO, the current order offers long-term opportunities and has the potential to become the biggest revenue providing client. The current order enables the company to increase the production levels of its subsidiary WCMC. The company anticipates producing and completing the shipment of the First Articles order during 2011.
Source: http://www.techprecision.com/