Techprecision Corp (TPCS)

[J85]

http://seekingalpha.com/pr/8196362-TechPrecision-Corporations-Ranor-Subsidiary-Receives-8_1-Million-Purchase-Order-for-Sapphire-Chambers

TechPrecision Corporation's Ranor Subsidiary Receives $8.1 Million Purchase Order for Sapphire Chambers

CENTER VALLEY, Pa., Nov. 14, 2013 /PRNewswire/ -- TechPrecision Corporation (TPCS) (OTC Bulletin Board: TPCS) ("TechPrecision" or "the Company"), an industry leading global manufacturer of precision, large-scale fabricated and machined metal components and tested systems with customers in the alternative energy, medical, nuclear, defense, aerospace and other commercial industries, today announced that it has executed a purchase agreement with an existing customer, to produce sapphire chambers at its Ranor facility in Massachusetts.

The $8.1 million agreement calls for a fixed number of Sapphire chambers to be delivered by the end of May, 2014. These chambers are expected to be used in a new manufacturing facility TechPrecision's customer is opening as part of a collaboration with Apple, Inc. That plant, located in the Phoenix (Ariz.) suburb of Mesa, will provide material for iPhone components, including cameras and fingerprint reading sensors.

"This purchase agreement provides us the opportunity to produce chambers we have experience manufacturing, for a customer we know well," commented Bob Francis, President and General Manager of TechPrecision's Ranor Division. "TechPrecision has already produced more than 1,100 high temperature vacuum chambers for the solar and sapphire markets. This production volume order will help utilize existing capacity at Ranor, providing revenue and profit margin as other projects in our pipeline move toward volume production levels."

About TechPrecision Corporation

TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., globally manufactures large-scale, metal fabricated and machined precision components and equipment. These products are used in a variety of markets including: alternative energy (Solar and Wind), medical, nuclear, defense, industrial, and aerospace to name a few. TechPrecision's goal is to be an end-to-end global service provider to its customers by furnishing customized and integrated "turn-key" solutions for completed products requiring custom fabrication and machining, assembly, inspection and testing. To learn more about the Company, please visit the corporate website at http://www.techprecision.com. Information on the Company's website or any other website does not constitute a part of this press release.