ANAHEIM, Calif., April 7, 2005 (PRIMEZONE) -- Gateway International Holdings, Inc. (Pink Sheets:GWYI) announced today that it has acquired ESK, Inc. ESK is a parts assembly company located in Southern California. The Company is primarily engaged in the assembly of precision parts in the aerospace, defense and medical industries.
ESK's President, Mr. Eric Thallmayer, is an industry veteran with a degree in Mechanical Engineering. He will continue to serve as President of ESK.
Additional information on this acquisition will be available soon at Gateway's website, www.gwyi.com and via their IR firm at www.firstcapitalinvestors.com. A downloadable investor fact sheet for Gateway is available free of charge online at www.firstcapitalinvestors.com/factsheets/gwih.pdf.
Gateway International CEO Larry Consalvi commented on the acquisition: "This is an attractive acquisition for Gateway in a number of ways. Our manufacturing divisions are attractive to the heavyweights in the aerospace and defense industry such as Boeing, Toyota, Northrop Grumman, and Raytheon due to the high quality of product that we produce. The benefit of having complete control throughout both the manufacturing and assembly processes will allow our manufacturing divisions to ensure that the quality of product leaving our facilities is of the highest caliber. In the past, we have outsourced parts assembly operations to a number of firms, including ESK. However, now that we can be assured of quality, timeliness, and cost variables utilizing in-house assembly, ESK will become the primary assembly company for all of Gateway's manufacturing divisions. The ability to keep the cost savings under our consolidated financial statements is an additional benefit that should help all of our manufacturing divisions achieve additional financial success."
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