We are a manufacturer of precision, large-scale fabricated and machined metal
components and systems. We offer a full range of services required to transform
raw materials into precision finished products. We sell these finished products
to customers in three main industry groups: defense, energy and precision industrial.
The finished products are used in a variety of markets including: defense, aerospace,
nuclear, medical and precision industrial. Our mission is to be the leading
end-to-end service provider to our markets by furnishing custom, fully integrated
solutions for complete products that require custom fabrication, precision machining,
assembly, integration, inspection, non-destructive evaluation and testing.
We are a Delaware corporation, organized in 2005 under the name Lounsberry Holdings
II, Inc. On February 24, 2006, we acquired all of the issued and outstanding
capital stock of our wholly-owned subsidiary Ranor, Inc., or Ranor. Ranor, together
with its predecessors, has been in continuous operation since 1956. Since February
24, 2006, our primary business has been the business of Ranor. On March 6, 2006,
following the acquisition of Ranor, we changed our corporate name to TechPrecision
Corporation. Our acquisition of Ranor was accounted for as a reverse acquisition.
Wuxi Critical Mechanical Components Co., Ltd., or WCMC, a limited company organized
under the laws of the People’s Republic of China, or China, located in
Wuxi City, Jiangsu Province, China, is our other wholly-owned subsidiary.
Our manufacturing operations within the United States are situated on approximately
65 acres in North Central Massachusetts. Our 145,000 square foot facility houses
state-of-the-art equipment which gives us the capability to manufacture products
as large as 100 tons. We offer a full range of services required to transform
raw material into precision finished products. Our manufacturing capabilities
include: fabrication operations (cutting, press and roll forming, assembly,
welding, heat treating, blasting and painting) and machining operations including
CNC (computer numerical controlled) horizontal and vertical milling centers.
We also provide support services to our manufacturing capabilities: manufacturing
engineering (planning, fixture and tooling development, and manufacturing),
quality control (inspection and testing), materials procurement, production
control (scheduling, project management and expediting), and final assembly.
All U.S. based manufacturing is done in accordance with our written quality
assurance program, which meets specific national codes, and international codes,
standards, and specifications. Ranor holds several certificates of authorization
issued by the American Society of Mechanical Engineers and the National Board
of Boiler and Pressure Vessel Inspectors. The standards used are specific to
the customer’s needs, and we have implemented such standards into our
manufacturing operations.
Our operations in China are conducted through WCMC. Since 2011, WCMC, through
its subcontractors, has historically provided large-scale precision component
fabrication and machining solutions. At March 31, 2017, we did not have any
open customer orders for WCMC in our backlog. We are evaluating how we will
utilize the WCMC entity moving forward.
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