SANTA FE SPRINGS, Calif., Nov. 6, 2003 (PRIMEZONE) -- New Century Companies, Inc (the "Company") (OTCBB:NCNC) today announced it had received an additional order for a $600,000 Vertical Turning Center. The company credits stronger than expected manufacturing growth over the last 4 months as the major driving force for the recent strong surge in new business. As recently reported in the Wall Street Journal, the Institute of Supply Management said its index of manufacturing conditions grew to its highest level since Jan. 2000.
Commenting on this new order, David Duquette CEO stated "We are very optimistic as the manufacturing sector continues to improve, we fully expect to report increased sales at a record pace for the Company. The Outlook for 2004 looks even brighter as the 'Bonus Depreciation' provided for manufactures in the Jobs and Growth Act expires in Dec. 2004. We believe this will accelerate orders for our company as manufacturers take advantage of the one time increased tax benefit for the purchase of equipment," continued Duquette.
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 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.