Thresher Industries Completes Major Upgrade and Places Into Operation One High-Speed, Energy-Efficient Machine
HANFORD, Calif., Oct. 20 /PRNewswire-FirstCall/ -- Thresher Industries, Inc. (Pink Sheets: THRR) is pleased to announce that the company has completed a retro-fit of one of its two Toshiba high pressure die casting machines acquired in April of 2009. This machine has been completely retrofitted with advanced controls and a high efficiency main electric motor for the hydraulics. The machine has been tested and runs made to confirm the performance and effect of these upgrades. The upgraded Toshiba 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.
In line with the Company's commitment to preserve the environment, Thresher is on track to complete a total of three high-pressure machine upgrades, including the first Toshiba machine, as soon as possible and parts permitting. The second Toshiba machine is expected to be complete and operational by mid-November. By December, the Company plans to release its fully upgraded one hi-bred 650 ton high pressure die casting machine, also acquired in April of 2009.
"Our new work cell is streamlined and capable of high-volume output, yet has little impact on the environment. We believe that recycling old machines is not only good for the environment, but is a more profitable way to significantly upgrade our business, while controlling costs," said Tom Flessner, President and CEO of Thresher Industries, Inc. 'With the first Toshiba machine exceeding our performance expectations we anticipate significant growth through 2010. The increased capacity alone etc. $4,000,000 annualized revenue year over year.
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.
Thresher Industries, Inc., +1-559-585-3400
SOURCE Thresher Industries, Inc.