Thresher Industries Completes PPAP on $125,000 Tool Order from S&P 500
Conglomerate
HANFORD, Calif., Oct. 27 /PRNewswire-FirstCall/ -- Thresher Industries, Inc.
(Pink Sheets: THRR) is pleased to announce that the Company has completed
production on a two-part tooling package for an S&P 500 conglomerate as
required by the Production Part Approval Process (PPAP). The PPAP ensures that
customer is satisfied with the design specifications, production quality and
cost of each part. Upon approval of the PPAP, Thresher can begin full-scale
production, the total cost of the tooling was approximately $125,000,
announced on July 9, 2009.
"The order from this S&P 500 conglomerate further diversifies our customer
base, and marks our entry into an exciting new industry. We produced these two
parts using our newly upgraded, high-speed Toshiba machine. Production ran
incredibly smoothly, with the same energy-efficiency and solid performance as
our prior test runs," said Tom Flessner, CEO of Thresher Industries. "We
anticipate to begin full production, upon approval of the PPAP, within two
weeks. We are reaffirming our estimates that a single, new machine can add at
least $4 million to revenues each year. With two more machine upgrades nearing
completion, we anticipate exponential revenue growth in the near future."
The newly upgraded Toshiba machine is capable of filling parts in less than 20
milliseconds, while casting parts from ounces to 15 pounds and cycle times of
less than 30 seconds are attainable with this highly efficient piece
equipment. Thresher delivers lightweight, high strength, heat resistant
components that resist wear and can lead to weight savings of around 40%
compared to conventional aluminum casting technology. Markets served include
Homeland Security, defense and aerospace markets, transportation, automotive,
agriculture and many emerging growth industries worldwide.
About Thresher Industries, Inc.
Thresher Industries, Inc. is a leading manufacturer of low carbon footprint
conventional and custom machined die castings made from 100% recycled aluminum
and metal matrix composites. Based in Hanford, California, the Company
operates an ISO 9000-compliant, green foundry that integrates bio-degradable
technologies and processes to lower the economic and environmental costs of
production. Thresher offers full engineering support, designing, and prototype
development to a variety of industries in the U.S. and Europe. For more
information, please visit www.thresherindustries.com.
Statements contained in this news release, other than those identifying
historical facts, constitute "forward-looking statements" within the meaning
of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor
provisions as contained in the Private Securities Litigation Reform Act of
1995. Such forward-looking statements relating to the Company's future
expectations, including but not limited to revenues and earnings, technology
efficacy, strategies and plans, are subject to safe harbors protection. Actual
Company results and performance may be materially different from any future
results, performance, strategies, plans, or achievements that may be expressed
or implied by any such forward-looking statements. The Company disclaims any
obligation to update or revise any forward-looking statements.
Contact:
Thresher Industries, Inc., +1-559-585-3400
Email: Info@thresherindustries.com
SOURCE Thresher Industries, Inc.
Thresher Industries, Inc., +1-559-585-3400, Info@thresherindustries.com
