ANAHEIM, Calif., Sept. 29, 2004 (PRIMEZONE) -- Gateway International Holdings, Inc. (Pink Sheets:GWYI) announced today that it has acquired Southern California-based All American CNC Sales, Inc.
Established in 1993, All American CNC Sales, Inc. specializes in the sale of new CNC machine tools in the Southern California market. From its inception, All American established itself as an aggressive sales organization. The Company has achieved a market share of over 25% with a current customer base of over 360 companies. Revenues for All American CNC Sales through September 20, 2004 totaled $2,790,645.
The primary product lines offered through All American CNC Sales include: Fadal Vertical Machining Centers, Giddings and Lewis Horizontal Boring and Machining Centers, Hessapp CNC Turning and Hwacheon CNC Turning. In addition to the machinery, the Company carries a complete accessory line to support its customer base. All items carried by All American CNC Sales are represented on an exclusive basis.
Gateway International's CEO commented on the acquisition, "I am pleased to bring All American CNC Sales in to the Gateway International portfolio of companies. I believe that this new division compliments our existing companies, Elite Machine Tool and Eran Engineering, very well. This acquisition is another step in our growth strategy of adding value to the organization through strategic acquisitions."
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