WESTMINSTER, Mass.--(BUSINESS WIRE)--TechPrecision Corporation (OTC Bulletin Board: TPCS) (“TechPrecision”, or “the Company”), a leading manufacturer of large-scale, high-precision machined metal fabrications with customers in the alternative energy, medical, nuclear, defense, aerospace and other commercial industries, today announced that the Company has nominated Mr. Philip Dur for election as a new independent director on its board of directors at its upcoming annual shareholders meeting to be held on October 15, 2009.
Mr. Dur possesses extensive experience in both the public and private sectors. He currently serves on the board of directors at Kennametal, Inc. (NYSE:KMT) and from October 2001 to June 2005 served as Corporate Vice President of Northrop Grumman Corporation (NYSE:NOC) and President of Northrop Grumman Ship Systems. Earlier in his career, Mr. Dur held executive management positions at Northrop Grumman Electronic Systems, Tenneco, Inc., and Tenneco Automotive. Prior to joining the private sector, he served in the United States Navy, attaining the rank of Rear Admiral, and in the Reagan Administration served as a Director of Political Military Affairs on the staff of the National Security Council. Mr. Dur holds a Ph.D. in Political Economy and Government and a Masters in Public Administration from Harvard University as well as masters and undergraduate degrees from the University of Notre Dame.
As an independent Board member, Mr. Dur will serve on both the Audit and Compensation Committees.
“We are very pleased that Admiral Dur has agreed to join our board, and expect he will bring tremendous insight into many of our key markets, including the defense, navy, and commercial maritime segments,” said Mr. Louis Winoski, Chief Executive Officer of TechPrecision Corporation. “We look forward to Phil’s valuable counsel, as we execute our business strategy to broaden our addressable markets and leverage TechPrecision’s unique capabilities to fuel future growth.”
About TechPrecision Corporation
TechPrecision Corporation, through its wholly-owned subsidiary Ranor, Inc., manufactures metal fabricated and machined precision components and equipment. These products are used in a variety of markets including: alternative energy, medical, nuclear, defense, industrial, and aerospace. TechPrecision’s goal is to be an end-to-end 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.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the Company’s ability to generate business from long-term contracts rather than individual purchase orders, its dependence upon a limited number of customers, its ability to successfully bid on projects, and other risks discussed in the company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.