TechPrecision Corporation (TPCS) received an order with a value of approximately $400,000 from a new Tier-1 customer for equipment used in the production of thin-film CIGS solar photovoltaic panels.
May 11, 2011 — TechPrecision Corporation (OTC Bulletin Board: TPCS), large-scale fabricated and machined metal components and systems maker with customers in the alternative energy, cleantech, medical, nuclear, defense, aerospace and other commercial industries, received an order with a value of approximately $400,000 from a new Tier-1 customer for equipment used in the production of thin-film copper indium gallium di-selenide (CIGS) solar photovoltaic (PV) panels.
This represents the fourth new strategic tier-1 customer signed by TechPrecision since the beginning of the company’s 2011 fiscal year. James Molinaro, CEO of TechPrecision Corporation, noted that the order “diversifies our customer base, particularly in the alternative energy vertical, and also increases our penetration in the rapidly growing solar energy market. This CIGS product complements our existing multi-crystalline and mono-crystalline solutions, and market trends indicate that CIGS technology will displace traditional thin-film technology in the next few years.”
The initial order is expected to ship by the third quarter of fiscal 2012.
TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., is an global manufacturer of precision, large-scale fabricated and machined metal components and systems. To learn more about the Company, visit http://www.techprecision.com.