LOS ANGELES, Feb. 4 /PRNewswire-FirstCall/ -- Material Technologies, Inc. (OTC Bulletin Board: MTTG) ("MATECH") held its first 4-day training for private inspection firms last week. Company officers and inspectors attended a four-day training in St. George, UT last week to learn how to implement an EFS inspection, which includes: receipt of contract, field inspection, collection and analysis of the data, and the preparation of a report. Attendees participated in 3 days of classroom and laboratory training with a final day of written and practical testing on day 4.
Conventional bridge inspections are mostly visual, often done by inspectors using binoculars from a distance. This is not an adequate means of inspection, since 90 percent or more of the fatigue cracks are completely missed with visual inspection alone, according to the Federal Highway Administration. The fifty states of the U.S. as a whole have 190,000 metal bridges, with 39,000 structurally deficient and 35,000 functionally obsolete.
MATECH's EFS is being used by states in three different ways -- as a means of prioritizing already limited repair and rehabilitation funds, as a traditional inspection tool since EFS finds cracks smaller than other technologies which leads to less expensive repairs, and as a repair/retrofit verification device.
The firms which attended the training did so at their own costs in order to provide the EFS inspections to their existing clients in the near future. One official stated, "This technology will revolutionize the way we view bridge management and inspections." Companies will be licensing the technology from MATECH in order to execute contracts across the U.S.
Robert M. Bernstein, MATECH's CEO, says, "We are very pleased to be partnering with these companies in order to bring this indispensable technology to bridge owners. Already, these engineers have come up with other uses for the technology with their existing clients. We are all very excited about the prospects."
About Material Technologies, Inc.
MATECH is an engineering, research and development company specializing in technologies to measure microscopic fractures and flaws in metal structures and monitor metal fatigue in real time. The company's leading edge metal fatigue detection, measurement and monitoring solutions can accurately test the integrity of metal structures and equipment including bridges, railroads, airplanes, ships, cranes, power plants, mining equipment, piping systems and heavy iron.
MATECH owns the only nondestructive testing technology able to find growing cracks as minute as 0.01 inches. MATECH has exclusive rights to seven patents along with $8.3 million in already completed contracts from the U.S. Government for research, testing and validation of its innovative solutions.
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: Robert M. Bernstein, Material Technologies, Inc.
11661 San Vicente Blvd, Los Angeles, CA 90049
|SOURCE Material Technologies, Inc.|
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