TechPrecision, a manufacturer of metal components and systems for the renewable energy industry, has received new orders totalling US$2 million for its wafer production equipment. The equipment, manufactured by TechPrecision’s U.S. and Chinese subsidiaries, Ranor and Wuxi Critical Mechanical Components, is expected to be shipped before the end of Q3.
Commenting on the orders, TechPrecision CEO James Molinaro said, “In step with rising global demand for solar energy, we have taken the necessary steps to provide our current and future customers with fabrication and machining capabilities in proximity to their end users, thus saving them time and money in the production of their required components.
“The addition of our Wuxi Critical Mechanical Components, in addition to our Ranor operations, expands our global production capabilities, provides more efficient supply chain management, and creates additional synergies inherent in utilizing both operations – all to the benefit of our growing global customer base.”