LOS ANGELES--(BUSINESS WIRE)--MATECH Corp. (OTCBB: MTCH - News) (MATECH) announces that a Davidson County, N.C. bridge was shut down after an inspection discovered several safety concerns including extreme cracks in the structure and weakening concrete, according to a report by Fox News. Known as the “Wilcox Bridge”, this historic bridge has carried traffic over the Yadkin River since the 1920s.
According to the Federal Highway Administration (FHA), 25% of bridges are structurally deficient or functionally obsolete meaning they are not designed to handle current traffic levels or need major repairs. Furthermore, current inspection methods are outdated and unreliable. The FHA estimates that 90% of cracks are missed during routine inspections, thus increasing the likelihood of a bridge failure and possible collapse.
MATECH’s Electrochemical Fatigue Sensor technology offers opportunity as a cost effective solution to this infrastructure crises. MATECH EFS has proven its efficacy on over 35 bridges in 10 different states, and not only protects citizens, but it curbs costs as well. With over 80% of “cracks” found by inspectors later shown to be false positives, MATECH eliminates unnecessary costs by eliminating unnecessary repairs.
“Despite the $400 million spent on inspection every year, somewhere in America a bridge fails every week,” stated Tony Cataldo, Chairman & CEO of MATECH Corp. “The communities home to these small- to medium-size steel bridges pay a high price for their failure [closure and/or collapse] –not only in terms of traffic congestion and economic productivity, but too often in human lives as well. It is therefore our mission at MATECH to continue to work to provide a cost-effective solution to our nation’s infrastructure crises.”
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 detect microscopic fractures in metal structures. MATECH is marketing its patented Electrochemical Fatigue Sensor (EFS), which finds growing fatigue cracks, and other advanced crack-detection technologies to bridge asset managers, railroad companies, and governmental agencies across the United States and internationally. To lean more, please visit: http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.matechcorp.com&esheet=6246980&lan=en_US&anchor=www.matechcorp.com&index=1&md5=2e9625945318028c86d3d997e282da9b
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 forward-looking statements.
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