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  • TechPrecision Corp. (TPCS) Subsidiary Ships First AOS-100A Isotope Transport Cask To Alpha-Omega Commercial Company 0 comments
    Feb 15, 2013 2:10 PM | about stocks: TPCS

    TechPrecision, a global manufacturer of large-scale, metal fabricated, and machined precision components, today said its subsidiary, Ranor, has shipped the first AOS-100A Isotope Transport Cask to a commercial customer of Alpha-Omega Services Inc., reflecting a long-standing collaboration.

    The units were approved by the Nuclear Regulatory Commission (NYSE:NRC), as Ranor has passed the NRC manufacturing process and quality audit for the cask production in March of 2012.

    "This shipment marks a milestone for TechPrecision's Ranor subsidiary, for Alpha-Omega Services, and for the nuclear industry," James Molinaro, CEO of TechPrecision stated in the press release. "This isotope transport cask enables safe transport of isotopes, and represents the first new cask to be approved by the NRC in decades. Today, thousands of hospitals use isotopes for radiotherapy, and will need these types of casks to transport the isotopes in accordance with the current NRC requirements. This represents a significant growth opportunity both for our partner, Alpha-Omega Services, and for Ranor."

    TechPrecision, Ranor and Alpha-Omega have devoted considerable time and costs to complete the first cask, which paves the way for additional casks to be delivered in upcoming months.

    "After seven years and $8 million, this is a monumental day for all of my employees and our current and future customers," Troy Hedger, president, Alpha-Omega stated. "My sincere 'thank you' goes out to each one for their patience and continued belief in this product. AOS, TechPrecision and Ranor, over the past 13 months, have worked aggressively to complete the manufacturing of this first cask and in the process have uncovered ways to shorten the time from order to completion. When fully implemented this will be beneficial for the next five casks which are to be delivered over the next few months and is an important factor for those commercial U.S.-based orders we anticipate to be placed now that the cask is a real choice for those who will be required to replace their cask fleets."

    For more information, visit www.techprecision.com

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    Stocks: TPCS
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