TechPrecision Corporation manufactures large-scale, high-precision machined metal fabrications applicable to customers in the alternative energy, medical, nuclear, defense, aerospace and other commercial industries. The recently retained Hayden IR, a national, New York-based investor relations consulting firm, to develop an investor relations program.
As a leading player in its industry, TechPrecision noted the importance of transparency and a solid relationship with current and future shareholders.
TechPrecision Interim CEO Lou Winoski said relationship with Hayden is expected to strengthen investor communication and attract shareholders that value the company’s operations.
“In 2009, TechPrecision brought in a new leadership team and strengthened its board of directors,” Winoski stated in the press release. “With a strong management, sales and marketing, and business development team in place, we are keenly focused on broadening TechPrecision’s addressable markets and leveraging our unique capabilities to drive future growth and we want to communicate this with existing and potential investors. We took the opportunity to retain Hayden as they came highly recommended as an agency that could promote the investment of our existing shareholders and introduce us to new shareholders who would understand and embrace our business model as our industry recovers from the recent downturn.”
Hayden is experienced in a comprehensive range of investor relations services, driving market recognition and creating sustainable competitive advantages through investor management, relationship building, awareness campaigns and by creating an online presence and corporate identity for its clients.
Brett Maas, managing partner at Hayden, said TechPrecisions extensive industry background paired with a strong balance sheet prepares the company for a promising future.
“TechPrecision is a highly valuable contractor in its identified industry sectors due to leveraging its expertise from over 50 years of developing mission critical products. They are diversifying their platform and product mix to sustain long-term growth and are targeting high-margin projects with more predictable cost structures as currently 75%-80% of their gross profit drops to the EBITDA line. They have seen a 100% return on their Ranor acquisition in just three years. They have a solid balance sheet with $9.5 million in cash. We believe TechPrecision is well positioned for the future and represents a value play for investors looking for growth at a reasonable price.”