Stock Alert: MTTG! August 6, 2007
NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Stock Market Alerts.
MIAMI, FL--(Marketwire - August 6, 2007) - Stock Market Alerts' performance stock list includes: Material Technologies Incorporated (OTCBB: MTTG), Carpenter Technology Corporation (NYSE: CRS), Precision Castparts Corp. (NYSE: PCP), Alcan Inc. (NYSE: AL).
Material Technologies Inc. (OTCBB: MTTG) has just issued additional news that should be of interest to investors. The company, a developer of advanced technology to monitor and measure metal fatigue, issued a press release this morning announcing that its new bridge inspection program aimed at the Federal Highway Administration (FHWA) and state departments of transportation which will educate and advise governmental agencies and responsible departments on using MATECH's patented electrochemical fatigue testing process on critical transportation infrastructure.
Great news for MTTG! MATECH's engineers will advise the FHWA and state DOTs regarding the Company's bridge inspection technology which helps locate and determine whether metal fatigue induced cracks in metal bridges are increasing in size as part of the national bridge safety regime of inspection, maintenance and repair. MATECH's technology can help these agencies allocate precious resources, save repair and rehabilitation funds while helping insure bridge safety and uninterrupted traffic flows -- not to mention lives.
"Without intervention now, these cracks will spread until they seriously undermine highway safety," says Robert M. Bernstein, CEO of publicly traded Material Technologies, Inc., a Los Angeles-based technology firm which has a patented non-destructive steel bridge inspection system. The company has developed an effective method to pinpoint growing cracks. Its team of "bridge doctors," all engineers, specializes in detecting and monitoring metal fatigue in civil infrastructure, including steel bridges such as the Minneapolis, Minnesota bridge which collapsed over the Mississippi River on Friday. MATECH's mission is to provide a cost effective, technologically advanced, and accurate system for detecting minute cracks in steel structures which portend future problems. In essence, MATECH's mission is to put into effect the old adage "an ounce of prevention is worth a pound of cure." In this case, a simple inspection using the MATECH EFS system is worth millions of dollars of future costs.
Although each of the 600,000 existing bridges (including about 190,000 metal bridges) in the U.S. must, by law, be inspected every two years, they are mostly inspected visually by inspectors using binoculars or by tapping with a hammer. It can be argued that this is not an adequate means of inspection, since 90 percent or more of the cracks are completely missed with visual inspection alone, according to the FHWA. The 190,000 metal bridges include 39,000 structurally deficient and 35,000 functionally obsolete bridges identified by the FHWA and the various state DOTs. According to the press release, the potential annual revenue from these structurally deficient and obsolete bridges from EFS inspections, at an average cost of $15,000 per inspection, is about $550 million. The potential annual revenue from all the states' steel bridges is $1.4 billion
This is certainly another company for investors to watch closely!
The stock closed Friday at $1.85 a share.
MATECH is an engineering, research and development company specializing in technologies to measure microscopic fractures and flaws in metal structures and monitor metal fatigue in real time. The company's leading edge metal fatigue detection, measurement and monitoring solutions can accurately test the integrity of metal structures and equipment including bridges, railroads, airplanes, ships, cranes, power plants, mining equipment, piping systems and heavy iron.
MATECH owns the only nondestructive testing technology able to find growing cracks as minute as 0.01 inches -- critical information that allows structural engineers to isolate and repair the more than 74,000 steel bridges in the US which have been classified as structurally deficient or functionally obsolete by the Federal Highway Administration. MATECH has exclusive rights to seven patents along with $8.3 million in already completed contracts from the US Government for research, testing and validation of its innovative solutions.
AI
