LOS ANGELES, April 7, 2010 (GLOBE NEWSWIRE) -- A major Milwaukee bridge was shut down last week after failing a safety inspection during which large dangerous cracks were found. Wisconsin state officials shut it down promptly. The cracks, first discovered last autumn, have since increased in size and multiplied. More than 42,000 vehicles cross the bridge each day.
"This is yet another reminder that our nation's infrastructure is deteriorating and in serious need of repair," said Tony Cataldo, Chairman & CEO of MATECH Corp. (OTCBB:MTCH) (MATECH). "In addition, while these dangerous cracks were luckily found, approximately 90% of fatigue cracks are missed during traditional inspection and over 80% of "cracks" identified are later proved to be false positives. It is for this reason that reliable crack- detecting technologies like our Electrochemical Fatigue Sensor (EFS) must play a critical role in revitalizing America's infrastructure and protecting its citizens."
On America's aging highway system, 200,000 steel highway bridges must be inspected at least every other year. 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
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. To learn more, go to http://www.globenewswire.com/newsroom/ctr?d=188075&l=6&a=www.matechcorp.com&u=http%3A%2F%2Fwww.matechcorp.com.
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.