Los Angeles, CA-October 15, 2009
- MATECH Corp.
(OTC Bulletin Board: MTCH
- News)
is pleased to announce that the Company expects to benefit
significantly from the Federal Transportation Bill which
is now expected to become law in early 2010.
Sen. Dick Durbin
(D-IL), an important ally of the White House, now supports
an earlier passage of this significant legislation, rather
than the 18-month delay originally proposed by President
Obama. This transportation plan, put forth by the Chairman
of the House Transportation and Infrastructure Committee,
Rep. Jim Oberstar (D-MN), would allocate $500 billion for
the country's crumbling infrastructure. The current legislation,
which expired on October 1, 2009, is now under a one-month
extension. Sen. Durbin, along with legislators on both sides
of the aisle, are pushing for passage of the bill in early
2010 as a means of further stimulating the job market.
The
bill, which passed the House Committee in 2008, calls for
the utilization of advanced, cost-effective technologies
to determine cracks in bridges which are often missed by
traditional methods (i.e. visual inspection). A visual inspection
study conducted by Federal Highway Administration (FHWA)
concluded that inspectors found cracks less than 10% of the
time, proving that visual inspection was critically unreliable.
In addition, the study also showed that 80% of the repairs
implemented after visual inspection were unnecessary.
With
over 200,000 steel bridges in the U.S. inspected every other
year, the need for more cost-effective and reliable methods
of determining cracks in bridges is overwhelming. The National
Highway Bridge and Reconstruction Act focuses on the use
of these technologies, of which MATECH's EFS is a leader.
"The
focus of this bill on improving bridge inspection and management
will no doubt benefit MATECH, whose EFS technology allows
bridge owners to significantly increase the cost effectiveness
of their infrastructure decisions," said Robert Bernstein,
CEO of MATECH.
"We anticipate that the implementation
of this federal transportation bill will result in a significant
expansion of MATECH's market presence, serving to substantially
increase revenues generated from new contracts." Following
the passage of the American Reinvestment and Recovery Act
(ARRA) Stimulus Bill earlier this year, MATECH has already
generated significant interest from federal and state agencies.
The bill included funds to help states evaluate nondestructive
methods such as EFS to detect growing fatigue cracks in steel
bridges.
MATECH has a proven track record of saving bridge
owners money through improving bridge management and public
safety with its cutting edge technology, the EFS System.
By eliminating subjectivity of inspections for cracking in
bridge members, MATECH is helping to eliminate wasted funds
by prioritizing repairs and providing immediate verification
of their effectiveness.
About Matech Corp. (MTCH.OB)
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 now 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.
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.
Contact:
Stephen Taylor
Taylor Capitol, Inc.
Phone: (973) 351-3868
info@pennymover.com
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