HANFORD, Calif., March 28, 2011 /PRNewswire/ -- Thresher
Industries (Pink Sheets: THRR) announced today that it has signed
mutual nondisclosure agreements with a Detroit based first tier automotive supplier.
Thresher and the Detroit
based company plan to co-development the ThermaLite metal matrix
composite (MMC) for use in its manufacturing and distribution
operations. Thresher has been working diligently on the new
focus of the company and is proud to announce such a significant
achievement. The automotive company believes this is a
necessary step in strategically aligning itself with an advanced
materials company, thus allowing them a competitive advantage.
It is anticipated that Tom
Flessner, CEO, will meet with the company in Detroit during the second week of April to
forge ahead.
Tom Flessner, President and CEO
of Thresher, said, "The next steps involve supplying data they
require for each application and discussions with their
metallurgist and ours to find a correct hybrid MMC that will match
their requirements. This is one of the most exciting periods
for Thresher since inception. We look forward to developing similar
relationships with other select companies we see an opportunity to
match our materials with."
The Detroit based company is
willing to look out ten years at emerging technologies and they
feel our materials are exciting and show great promise. This
company is one of the largest in its industry, with over
$3 billion in revenue, over 30,000
full time employees also it is in other industries such as
agriculture and aerospace.
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, Inc.