Apr 17 2010
MATECH Corp. (OTCBB: MTCH) (MATECH) announces that the Alabama House has passed a bill to inject $1 billion into repairing the state’s roads and bridges, as well as new road and bridge construction.
Though amended heavily since the bill passed the State Senate and went to the House, Democratic Rep. Billy Beasley of Clayton stated that he agreed to all the amendments in an attempt to keep the bill alive due to his serious concern over the state’s aging roads and bridges.
Recently, Massachusetts had also passed a similar measure, devoting over $3 billion to tackle its own infrastructure problem. In 2009, President Obama signed the landmark $787 billion federal stimulus program.
“Alabama, like the rest of the nation, has significant infrastructural concerns and needs to begin to take serious steps to fix its ailing roads and bridges,” said Tony Cataldo, CEO of MATECH Corp. “Less than a week ago we informed our shareholders that the state of Massachusetts had devoted $3 billion to rapid its aging infrastructure. It seems clear that states are beginning to invest a significant share of the federal stimulus program into rebuilding and revitalizing their roads and bridges. We look forward to continuing to work with these states on their efforts. We are confident that such increases in bridge repair spending will translate into increased contracts using our revolutionary Electrochemical Fatigue Sensor (EFS).”
MATECH’s revolutionary Electrochemical Fatigue Sensor (EFS) System has proven its efficacy on over 35 bridges in 10 different states and on railroads across the nation. The leader in bridge crack detection technology, MATECH’s EFS is the only non-destructive method able to detect growing cracks in bridges as small as 0.01 inches.
Source: http://www.matechcorp.com/