HANFORD, Calif., March 15 /PRNewswire-FirstCall/ -- Subsequent to
a special meeting of the Board of Directors of Thresher Industries
(Pink Sheets: THRR), it was announced today that the proposed offer
to sell the company was approved. As previously reported, Thresher
Industries received a letter of intent to buy their company on
March 9, 2010. In the opinion of the
members of the board this offer represents an extremely attractive
package with a suggested settlement that is significantly above the
current market price range. Corporate attorneys for Thresher
Industries will report to the board members no later than
March 16th as to whether a meeting of
the shareholders will be required. The Board of Directors will
recommend to the shareholders that they accept and ratify the sale.
The details of this offer will be announced on Tuesday, March 16th 2010.
About Thresher Industries, Inc.
Thresher Industries, Inc. is a leading manufacturer of low
carbon footprint conventional and custom machined die castings made
from 100% recycled aluminum and metal matrix composites. Based in
Hanford, California, the Company
operates an ISO 9000-compliant, "green" foundry that integrates
bio-degradable technologies and processes to lower the economic and
environmental costs of production. Thresher offers full engineering
support, designing, and prototype development to a variety of
industries including: agriculture, aerospace, defense,
transportation, and automotive in the U.S. and Europe. For more information, visit
http://www.thresherindustries.com.
Statements contained in this news release, other than those
identifying historical facts, constitute "forward-looking
statements" within the meaning of Section 21E of the Securities
Exchange Act of 1934 and the Safe Harbor provisions as contained in
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements relating to the Company's future
expectations, including but not limited to revenues and earnings,
technology efficacy, strategies and plans, are subject to safe
harbors protection. Actual Company results and performance may be
materially different from any future results, performance,
strategies, plans, or achievements that may be expressed or implied
by any such forward-looking statements. The Company disclaims any
obligation to update or revise any forward-looking
statements.
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Contact:
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Thresher Industries, Inc.
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Tel: 559.585.3400
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www.thresherindustries.com
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info@thresherindustries.com
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SOURCE Thresher Industries, Inc.