LOS ANGELES, CA -- (Marketwire) -- 11/06/09 -- New Century Companies, Inc. (OTCBB: NCNC) announced today that Russell Armstrong (Crescent Financial Advisors) is in China on behalf of New Century Companies, Inc. Mr. Armstrong was invited to China by a large Chinese Fund Group to tour several China facilities with an eye towards strategic opportunities that fit with New Century.
David Duquette, CEO, New Century Companies, Inc., stated, "We are cautiously optimistic about this trip and feel this could be a very exciting possibility for our shareholders. The opportunities that exist in China are enormous for New Century." He further stated, "As in any discussions there can be no assurance that a deal will be consummated."
About New Century Companies, Inc.
New Century Companies, Inc. is a supplier of structural aircraft components and assemblies, as well as a leading re-manufacturer of machine tools. New Century, through its wholly owned subsidiary Precision Aerostructures, specializes in engineering and manufacturing precision details for the aerospace industry that perform reliably in harsh conditions, including high and low temperatures, severe shock and vibration. New Century also is a leading domestic manufacturer of machine tools, primarily vertical boring mills and large lathes such as Vertical Turning Centers (VTC). Precision serves major aircraft builders such as General Electric, Boeing L3 Communications and Eclipse Aerospace. The Company has production facilities in Rancho Cucamonga, CA and Santa Fe Springs, CA.
For more information please visit:
New Century's website at www.newcenturyinc.com or Precision's website at www.precisionaerostructures.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.