TECHPRECISION CORP

The company manufactures precision, large-scale fabricated and machined metal structural components and systems. It provides a full range of services to transform raw materials into finished products, which are sold to customers in two main industry groups: defense and precision industrial. The company aims to be a leading end-to-end service provider, offering custom, fully integrated solutions for complete products. These solutions involve custom fabrication, precision machining, assembly, integration, inspection, non-destructive evaluation, and testing, all manufactured according to customer drawings and specifications and in compliance with applicable national and international codes and standards. The company operates through two wholly owned subsidiaries, Ranor and Stadco, each representing a reportable segment. Both segments focus on manufacturing and assembling specific components, primarily for defense and other precision industrial customers. On November 22, 2023, the company entered into a Stock Purchase Agreement to acquire Votaw Precision Technologies, Inc., which would have become a wholly owned subsidiary. However, due to changes in conditions and events, it became probable that the acquisition would not close by March 31, 2024. On April 2, 2024, the Seller terminated the Purchase Agreement.