M Line Holdings, Inc., Changes the Name of Eran Engineering, Inc. to Precision
Aerospace and Technologies, Inc.
TUSTIN, Calif., May 16, 2013 (GLOBE NEWSWIRE) -- M Line Holdings, Inc.
(OTCQB:MLHC), ("M Line" or the" Company"). M Line is pleased to announce that
following its successful refinancing, it has changed the name of its
subsidiary, Eran Engineering, Inc., to Precision Aerospace and Technologies,
Inc. ("Precision"). This is being done to more fully reflect the direction and
growth of this subsidiary.
M Line Holdings, Inc. Logo
Precision Aerospace and Technologies,
The Company plans to grow Precision primarily within the commercial and
defense sectors of the aerospace industry. M Line believes that Precision's
growth will increase much faster than projected growth in the commercial
Precision will still continue to manufacture and grow the business with other
customers in the medical device field as well as other industries. Furthermore
our future plans for acquisitions will, we trust, bring new technologies
connected to the aerospace industry.
This change will not in any way change or delay the growth plans for Elite
Said Tony Anish, Managing Director, "The Management team at M Line have wanted
to change Eran Engineering's name for some time and we felt it was appropriate
to make the change at this time, as we are now positioning Precision, for
significant growth over the next two to three years."
About M Line Holdings, Inc.
M Line Holdings, Inc. (OTCQB:MLHC) acquires fundamentally-sound companies that
are market accepted, scalable and demonstrate a quantifiable value proposition
when properly managed. Currently our focus is in the aerospace and medical
manufacturing and precision equipment businesses that, with the addition of
some new products and markets, can exhibit strong growth in both revenue and
profits. MLHC lends its operational support, management approach, strategic
partnerships, relationships and financial resources to these companies to
reduce costs and expand sales, which allows these companies to achieve
exceptional performance over time. MLHC currently operates two wholly owned
subsidiaries that are positioned for growth; Precision Aerospace and
Technologies, Inc. and E.M. Tool Company, Inc. dba Elite Machine Tool Company.
Precision is AS9100 REV C certified and engineers/manufactures precision metal
products and services to such major customers as Panasonic, Rockwell Collins,
Driessen, UTC Aerospace Systems and Iris Medical. Elite sells pre-owned
machine tool equipment that has been refurbished in Elite's facility to
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Forward Looking Statements
This news release contains certain "forward- looking statements."
Forward-looking statements are based on current expectations and assumptions
and are inherently subject to risks and uncertainties, some of which cannot be
predicted or quantified, and many of which are beyond the Company's control.
The forward-looking statements are also identified through the use of words
"believe," enable," "may," "will," "could," "intends," "estimate,"
"anticipate," "plan," "predict" "probable," "potential," "possible," "should,"
"continue," and other words of similar meaning. Actual results could differ
materially from these forward-looking statements as a result of a number of
risk factors detailed in the Company's periodic reports filed with the SEC.
Given these risks and uncertainties, investors are cautioned not to place
undue reliance on such forward-looking statements and no assurances can be
given that such statements will be achieved.
CONTACT: Tony Anish, M Line Holdings, Inc.
Mark Gilbert, Magellan Fin, LLC
M Line Holdings, Inc. Logo
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