MTCH $3B devoted to repair bridges:
MATECH Corp.: Massachusetts Devotes $3 Billion to Repair State Bridges
Other States Pledge Similarly Significant Investment in Infrastructure
LOS ANGELES, Apr 8, 2010 (GlobeNewswire via COMTEX) -- The Massachusetts Department of Transportation will devote $3 billion to repairing the state's deteriorating bridges over the next seven years. The program, known as the "Accelerated Bridge Program," is designed to rapidly revitalize the state's economy by improving transportation efficiency and commerce, while also creating jobs in the community.
The program will be funded by the Commonwealth's share of the $787 billion federal stimulus program signed by President Obama last year.
"When combined with our unprecedented Accelerated Bridge Program and federal stimulus projects, we are putting thousands of people to work and jumpstarting our economy as we rebuild our transportation infrastructure," said Massachusetts Governor Deval Patrick.
"The Massachusetts Department of Transportation like others around the country understands that money spent revitalizing our infrastructure is both a short-term and a long-term investment in America's economic future," stated Tony Cataldo, Chairman & CEO of MATECH Corp. (OTCBB:MTCH) (MATECH). "We at MATECH look forward to continuing to work with the various state DOT's on their increased efforts to improve the safety and efficiency of our nation's bridges."
As the leader in bridge crack detection technology, MATECH is confident that such increases in bridge repair spending will translate into increased contracts using its revolutionary Electrochemical Fatigue Sensor (EFS) technology, the only non-destructive method able to detect growing cracks in bridges as small as 0.01 inches.
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