Science & Technology
Science and Technology
Science and Technology
Tue, December 29, 2009
Mon, December 28, 2009 MATECH Expects to Benefit From Potential $150 Billion Surge in Federal Stimulus Spending
LOS ANGELES, CA--(Marketwire - December 28, 2009) - MATECH Corp. (
New highway and bridge construction and other infrastructure development projects would comprise a significant portion of this new spending initiative along with a focus on other potential job-generating programs such as small business tax cuts and retrofitting millions of homes to be more energy-efficient.
Using its revolutionary Electrochemical Fatigue Sensor (EFS) System, the only nondestructive technology capable of detecting growing cracks as small as 0.01 inches, MATECH expects to significantly benefit from the proposed increase in federal stimulus towards infrastructure development and maintenance projects. MATECH's Sensor EFS System has proven its efficacy on over 40 bridges in 10 different states and on railroads across the nation.
"President Obama has repeatedly called for using federal spending to secure the nation's infrastructure as a means of job creation and improving the economy," said Robert M. Bernstein, Co-CEO of MATECH. "Should these additional measures be taken, we anticipate that MATECH and our effort to secure the nation's infrastructure will benefit enormously."
MATECH has a proven track record of saving bridge owners money through improving bridge management and public safety with its cutting-edge EFS System. Through eliminating subjectivity of inspections for cracking in bridge members (the FHWA has stated that 90% of these cracks are missed with the usual visual inspections), MATECH is helping to eliminate wasted funds by prioritizing repairs and verifying their effectiveness immediately.
About MATECH
MATECH Corp., founded in 1983, is an engineering, research and development company based in Los Angeles, CA. The Company specializes in technologies to measure microscopic fractures in metal structures. MATECH is marketing its patented Electrochemical Fatigue Sensor (EFS) and other advanced crack-detection technologies to bridge asset managers, railroad companies, and governmental agencies across the United States and internationally. To learn more, please visit: [ www.matechcorp.com ]
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe," "will," "breakthrough," "significant," "indicated," "feel," "revolutionary," "should," "ideal," "extremely" and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's recent Form 10-K and Form 10-Qs, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
