Los Angeles, CA-October 1, 2009
- MATECH Corp.
(OTC Bulletin Board: MTCH
- News) is pleased to announce that
the Company believes it will become the leading provider
of a cost-effective solution to solve the aging infrastructure
crises in the United States.
According to the Federal Highway Administration, 25% of
bridges are structurally deficient or functionally obsolete,
meaning they are not designed to handle current traffic
levels or need major repairs. Somewhere in America a bridge
fails every week -- despite the significant amount spent
on inspection every year. 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.
These devastating collapses
are often a result of currently unreliable inspection methods.
According to the FHWA, during visual inspection (the most
used inspection method), approximately 90% of fatigue cracks
are missed, thus increasing the probability of a potential
disaster. In addition, bridge inspectors falsely identify "cracks" later
proved to be nonexistent over 80% of the time, resulting
in wasteful spending on unneeded repairs. In light of the
shocking inefficiencies of current bridge inspection methods,
it is clear that a cost effective solution that saves both
money and lives is needed to secure the nation's infrastructure.
MATECH's proprietary Electrochemical Fatigue Sensor is one
answer to this problem. The revolutionary technology has
proven its efficacy on over 35 bridges in 10 different states
for various DOTs (Department of Transportations) as well
as railroads across the nation. MATECH's EFS Technology
is currently the only nondestructive method on the market
able to detect growing cracks as well as subsurface cracks
as small as 0.01 inches in bridges.
"On our aging highway
system, 200,000 steel highway bridges must be inspected
at least every other year," said Robert Bernstein,
CEO of MATECH. "Considering the expensive and potentially
disastrous failures of visual inspection, the need for an
advanced, reliable, and inexpensive method of bridge inspection
such as our EFS technology is increasingly apparent. With
the only nondestructive method able to determine cracks
as small as 0.01 inches, MATECH is positioned to become
a leader in this vast, rapidly expanding, and increasingly
important industry."
About Matech Corp. (MTCH.OB)
MATECH Corp., formerly Material Technologies, Inc., was founded
in 1983 and is based in Los Angeles. It is an engineering,
research and development company that specializes in technologies
to measure microscopic fractures in metal structures and to
monitor metal fatigue. The Company has already completed significant
work for the federal government -- generating $8.3 million
to develop technology to detect metal fatigue in aircraft.
It has also received $5 million in private investments. Building
on that base, it is now marketing its technologies to companies
and government agencies involved in the inspection of metal
highway and railroad bridges..
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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