Thresher Industries to Acquire Talon Composites

HANFORD, Calif.--(BUSINESS WIRE)--Thresher Industries (Pink Sheets: THRI - News), a Hanford California based manufacturer of quality aluminum and composite castings announced today that it has agreed to acquire 100 percent of Talon Composites, a manufacturer of premium metal matrix composites. The transaction is expected to close on November 10, 2006. Roger Rowell, CFO Thresher Industries is working with R.J. Easton to orchestrate and conclude the acquisition. Details on terms were not disclosed. Tom Flessner, President and CEO of Thresher Industries said, "The Talon materials have proven excellent in all of our tests. Our experience casting product with the Talon cast grades of metal matrix alloy has been excellent, we have cast parts as small as one-half pound and as large as an engine block. We subjected the finished material to multiple tests, including dye penetration inspection and X-Ray examination of finished blocks, and it is clear that the issues normally associated with metal matrix materials are not present here. We at Thresher are excited about the opportunity to use materials engineered by Talon Composites." Robin Carden, President and CEO of Talon Composites said, "Our material enables us to realize clear advantages over conventional aluminum alloys, including excellent thermal conductivity, stiffness and ease of machining. The Talon team looks forward to working alongside Tom Flessner and Thresher Industries in the coming years." Thresher's acquisition of Talon will allow it to leverage its manufacturing strength to develop and market Talon's products in the high growth nuclear market and other target industries. To date Talon Composites has focused on providing superior neutron absorbing materials and manufactured components for nuclear transport and storage containers. The results generated demonstrate that there is rapidly growing worldwide interest in the use of Talon's materials in the nuclear industry. The superior properties of Talon's materials have also proved valuable in many other applications where a combination of light weight, stiffness, longevity and strength are important - e.g., engines, electronics, defense and aerospace. Thresher Industries will relocate manufacturing operations for Talon to Thresher's Hanford California manufacturing facility. 20,000 of additional space has been designated and fitted with necessary utilities and lighting to support Talon's manufacturing needs and provide space for future growth. Thresher's Rowell stated, 'Thresher Industries Foundry Group will continue to provide quality specialized aluminum castings to its growing customer base while providing new materials to our customers using our advanced manufacturing technologies to increase sales and profits for Thresher.' Contact: Thresher Industries, Inc. Roger Rowell, CFO, 559-585-3400 ________________________________________ Source: Thresher Industries