TUSTIN, Calif., April 27, 2005 (PRIMEZONE) -- Atlantis Holding Corp. (Pink Sheets:AHDG) has signed a letter of intent for the acquisition of Enterprise Automation, Inc. Terms of this acquisition remain to be finalized, but it is expected that Atlantis Holding Corp. will purchase Enterprise Automation, Inc. in exchange for cash and shares of stock in Atlantis Holding Corp.
Enterprise Automation, Inc. is a Tustin, California-based engineering firm that offers service and support for all phases of industrial automation, from the design phase to project completion and ongoing optimization. Enterprise Automation specializes in programmable controllers, operator interfaces and data acquisition systems that improve productivity, reduce downtime and increase efficiency. Project sizes range from a single custom machine to complete production lines in a wide variety of industries. In addition, Enterprise Automation works in the area of energy management, and has plans to combine their automation expertise with photovoltaic technology to provide improved energy efficiency for industrial facilities. Clients range from small private companies to larger firms including Universal Studios -- a division of General Electric, U.S. Filter -- a division of Veolia Environnement, Sempra Energy and others.
According to Robert J. Thompson, President and CEO of Atlantis Holding Corp., "The acquisition of Enterprise Automation is the first in what we hope to be several mergers and acquisitions intended to grow Atlantis Holding's offering of products and services related to industrial automation, process control, quality control and environmental protection. Enterprise Automation is an established company with excellent growth prospects, and should be a good fit in our long-term growth plans."
Atlantis Holding Corp. is a holding company with three other wholly owned subsidiary companies, including: Cal-Bay Controls, Cal-Bay Analytical and WetChem. For more information on Atlantis Holding Corp. please refer to the company Internet website at www.atlantisholdingcorp.com, and for additional information on Enterprise Automation please refer to the company Internet websites at www.EnterpriseAutomation.biz.
This press release may contain forward-looking statements that are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.