TechPrecision TPCS (disclosure: long), our favourite metal bender, precision manufacturer and supplier to the defense industry for nuclear submarines, disclosed on Monday after hours that they had renegotiated their credit facilities with Berkshire Bank: Under the Modification, Ranor and Berkshire agreed to revise the minimum interest rate payable on the Revolver Loan. Under the Line of […]
It has been almost two months since Techprecision Corporation (TPCS) issued a press release announcing, “a definitive agreement to purchase STADCO,” a privately-held company based in California. Like TPCS, STADCO specializes in the precision fabrication of parts used in the defense industry. Where TPCS is lately focused on the Navy and specifically nuclear submarines, STADCO […]
Sharp-eyed readers may have caught that Tech Precision (TPCS) appears to be winning business away from its core defense/navy/nuclear submarine focus. Note 4 of the company’s quarterly financial statements includes a table of major customer relationships. Unfortunately, the information is disguised, with customer codes used (the letters “A”, “B” etc) used instead of customer names. […]
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