(OTC: MTNA) Targets $8.2 Billion Railroad Industry
(CybeRelease, May 3, 2006) - Lake Harmony, PA - Material Technologies, Inc. (OTC BB: MTNA) (“MATECH”) announced that it is targeting the growing railroad industry and receiving significant interest in its innovative metal fatigue detection solutions. According to a report published by the Association of American Railroads (AAR) last month, major freight railroads will spend more than $8.2 billion in 2006 laying new track, buying new equipment and improving infrastructure. MATECH’s patented Electrochemical Fatigue Sensor(TM) (EFS) technology can accurately measure microscopic growing cracks and metal fatigue in railway tracks and equipment, enabling railroad engineers to improve safety, optimize repairs and increase efficiency.
According to the Association of American Railroads, U.S. Class I freight railroads will invest $8.2 billion in infrastructure this year. From 1980 to 2005, freight railroad capital spending was more than $120 billion. In addition, railroads spend $10 billion to $12 billion each year to repair and maintain their infrastructure and equipment, for total spending of nearly $360 billion since 1980. The AAR noted that the U.S. Department of Transportation estimates that freight traffic will grow more than two-thirds by 2020 and that these investments are a necessary part of an ongoing effort to keep pace with anticipated traffic growth. The piece can be read in its entirety at http://www.aar.org/Index.asp?NCID=3582.
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