The California based company MATECH announced today that they have signed a contract with the engineering firm of HNTB to inspect a critical bridge structure on the Harrisburg Bridge for the Pennsylvania Department of Transportation.
The relationship with HNTB is one that has caught the eyes of investors. HNTB is a renowned engineering firm that has helped plan and expand infrastructure across America for almost a century. Some of the notable projects that are under HNTB’s enterprise include California’s new high-speed rail and the expansion of the Las Vegas Convention Center.
HNTB has an ongoing contract with the Pennsylvania Department of Transportation (PENNDOT) which is responsible for all transportation issues within the state. According to the terms of the deal, MATECH will provide fatigue crack inspection as part of HNTB’s ongoing contract.
MATECH is led by Robert M. Bernstein who is a veteran in his field and has had a long and illustrious career. Prior to his time at MATECH, Bernstein was the Chairman and CEO of Blue Jay Enterprises, which is an oil and gas company in Philadelphia, PA. In December 1985, Mr. Bernstein formed a research and development partnership, funding approximately $750,000 for research on the Fatigue Fuse. In October 1988, Mr. Bernstein became MATECH President, CEO, and Chief Financial Officer.
When asked about the contract, Mr. Bernstein was quoted as saying, “A strong supporter of utilizing the most advanced technologies in order to ensure the public safety, PennDOT has been a consistent client of MATECH’s. We are pleased to be working with HNTB on this project for PennDOT, and anticipate that this will lead to an on-going relationship with HNTB.”
With its cutting edge technology in place, MATECH has been saving bridge owners money through improving management and public safety. Currently, MATECH is trading in the $0.34 range. At this price coupled with valuable technology in place, MATECH could be a steal for the taking.