The manufacturer is known for providing engineering, precision large-scale machined, fabricated metal and electrical parts and complete tested systems for customers in the alternative energy, medical, nuclear, aerospace and other industries.
TechPrecision's Ranor division is one of the few "N-stamp" precision manufacturing companies certified by the American Society of Mechanical Engineers to machine, fabricate and test large-scale nuclear assemblies.
"We are one of the last few companies left in the U.S. [to have the N-stamp certification]," said James Molinaro, CEO of TechPrecision. This certification enables the company to produce nuclear equipment.
"Twenty-five percent of our business is nuclear; a large part of our business is making transport containers," said Molinaro.
According to a recent conference call, the company reported that its customer and sector pipeline for fiscal year 2013 includes $7 million to $12 million in nuclear projects, which is just in the transport containers or "casks" business.
Medical, defense and nuclear are the three main industries the company serves. In January, TechPrecision announced that it signed a five-year agreement valued at more than $115 million to exclusively produce complete product assemblies for proton beam cancer treatment equipment in the U.S. and Asia.
The Food and Drug Administration recently cleared the proton beam technology, according to the company, which expects to begin shipping initial assemblies during the first quarter of fiscal year 2014.