LOS ANGELES, Sept. 14, 2005 (PRIMEZONE) -- New Century Companies, Inc. (OTCBB:NCNC), a leading manufacturer and re-manufacturer of machine tools, today announced that it received orders for two vertical turning centers (VTCs), totaling $630,000, in the first week of September. The orders follow shortly after three VTC orders in August that totaled more than $1 million. Revenue from both orders will be recorded between now and the end of the fourth quarter on December 31, 2005.
The VTC, a large vertical lathe, is used to produce metal components for aerospace, construction, oil and gas exploration, power generation and other applications. The two VTCs ordered earlier this month are being bought by manufacturers in Southern California (customer names are omitted here for competitive reasons). One buyer is a machine shop specializing in aerospace components. The other performs heavy machining, fabricating and assembly services for a wide range of industries.
"We are pleased to see that the demand for our machine tools, already high, now appears to be accelerating," said David Duquette, CEO of New Century. "Among other things, the fast start to September indicates that the three orders totaling more than $1 million in August were not a fluke. Economic expansion and, in particular, the nation's growing energy needs are fueling a boom in the machine-tool business that looks sustainable for some time to come."
During August, New Century announced that it had received three orders for VTCs, totaling $1.06 million, from major machine shops in the Midwest and Southern California.
About New Century Companies
New Century Companies, Inc. (OTCBB:NCNC), is one of the leading U.S.-based makers of machine tools, primarily vertical boring mills and large lathes such as vertical turning centers. It also assembles sound-wall modules made from Quilite(r), a lightweight, graffiti-resistant alternative to concrete. In its machine-tool business, the Company specializes in re-manufacturing, starting with existing major castings and fitting them with state-of-the-art, computer-controlled equipment. These products generally cost 40% to 60% less to make than new ones. New Century passes these savings on to its customers, which include such leading manufacturers as General Electric Co., General Dynamics Corp., Siemens AG and Goodrich Corp. New Century machines are used to manufacture jet-engine components, airplane landing gear parts, power generation equipment, oil and gas production components and construction materials, to name just a few applications. Quilite is used not only in freeway noise walls but in other sound-absorbing structures, including barriers at sports stadiums and electric transformers. New Century manufactures its machine tools and Quilite modules in Santa Fe Springs, Calif. Visit New Century's Web site at http://www.newcenturyinc.com
Forward-looking statement: 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.