SANTA FE SPRINGS, Calif., Nov. 18, 2003 (PRIMEZONE) -- New Century Companies, Inc (the "Company") (OTCBB:NCNC) announced today it received an order for a $650,000 Vertical Turning Center for the manufacture of large Wind Mill bearings. New Century is the leading manufacture of 4 Axis Vertical Turning Centers in the U.S.
David Duquette CEO stated, "The Wind Energy Sector is the fastest growing business segment for the Company. General Electric reported in June 2003 it had a backlog of over $2 billion dollars for Wind Turbines. We expect strong continued future business in this market."
About New Century Companies, Inc.
New Century, under its brand name Century Turn, specializes in manufacturing, remanufacturing and retrofitting machine tools, primarily Vertical Boring Mills and large Lathes, is assisting in solving the current power crisis. By offering remanufactured Vertical Boring Mills, the Company saves or conserves millions of dollars per year in energy costs by re-utilizing the major castings of each Vertical Boring Mill. These savings, generally in the range of 40% to 60%, allow New Century to be the most price competitive manufacturer of Vertical Boring Mills in the U.S. These cost savings are passed on to New Century customers and afford them the opportunity to manufacture rotating turbine components for power generation at better costs. New Century machines are also use by manufacturers of jet engine components, airplane landing gear parts, oil and gas components, to name a few. New Century currently manufactures its machines in state-of-the-art facilities in Santa Fe Springs, CA. New Century maintains a website at www.newcenturyinc.com.
Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions, and other risks detailed from time-to-time in the Company's ongoing quarterly filings, annual information form, and annual reports. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.