HANFORD, Calif:, March 16 /PRNewswire-FirstCall/ -- Thresher Industries, Inc has been considering an offer that they received on March 9, 2010 to purchase their company. Subsequent to a special meeting of the Board of Directors of Thresher Industries (Pink Sheets:THRR.pk - News), it was announced that the proposed offer to sell the company was approved. As stated previously, in the opinion of the Board of Directors this offer represents an extremely attractive offer with a suggested settlement that is significantly above the current market price range. Corporate attorneys for Thresher Industries have advised the Board of Directors that they can act on this offer without shareholder approval. The Board of Directors has been in contact with the major shareholders for the company and all parties have agreed with the action of the board to consent to the sale for a price of $0.01 for all outstanding shares. This is a premium price compared to the recent trading range for the company. The anticipated completion and closing of the deal could be as soon as April 10, 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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