HANFORD, Calif., March 23, 2011 /PRNewswire/ -- Thresher
Industries (Pink Sheets: THRR) announced today that it is
leveraging its proprietary ThermaLite metal matrix composites (MMC)
and related processes to pursue sales opportunities in the
automotive and light truck piston industry. As previously
announced, Thresher is shifting its business focus from a
conventional foundry, to a supplier of hybrid MMC alloys that will
be used in production prototypes and beta site development to serve
multiple verticals and market applications worldwide.
Tom Flessner, President and CEO
of Thresher, said, "The automotive industry is clearly on a path of
recovery and offers Thresher a unique opportunity to supply it with
a hybrid of its ThermaLite alloy that yields specific requirements
not available from any other materials available to the these
companies. Thresher's intent is to partner with manufacturers
and develop this hybrid alloy for pistons. Then assist in the
transfer of the work to the large scale production facilities as
volumes increases; thus allowing Thresher to participate in the
significant volume requirements through the sale of their
proprietary ThermaLite alloy and significant revenue growth without
having to incur the significant capital obligations. Since 2009, we
have allocated financial resources to further develop our composite
alloys; and have found that our cast material has certain
properties that are ideally suited for this segment of the
automotive market." According to a Business Review article
on January 4, 2011, auto production
in North America grew 37% to about
11.8 million units in 2010 over 2009. Projections for 2011 and 2012
are 12.4 million and 13.5 million, respectively.
"Our goal is to work with both first-tier automotive and
aftermarket customers to develop prototypes and provide small-batch
production for our lower volume customers. Higher volume
customers with be provided with training and support on our
materials and processes. Thresher has developed not just the
material, but a system to produce the material, cast the product
and finish the casting to meet the quality and specifics of the
customer," added Flessner.
About Thresher Industries
Based in Hanford, California,
Thresher 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 including: agriculture, aerospace, defense,
transportation, and automotive in the U.S. and Europe. For more information, visit
http://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.
Tel: 559.585.3400
www.thresherindustries.com
info@thresherindustries.com
SOURCE Thresher Industries