ANAHEIM, Calif., April 5, 2005 (PRIMEZONE) -- Gateway International Holdings, Inc. (Pink Sheets:GWYI) announced today that it has acquired Nu-Tech Industrial Sales, Inc.
Nu-Tech Industrial Sales, Inc. ("Nu-Tech") is a Southern California-based sales organization. Profitable every year since its inception 6 years ago, the Company is in the business of supplying tools to the Aerospace, Automotive and Medical Equipment manufacturing industries, with clients located throughout the United States and Mexico.
Nu-Tech's President, Mr. Rob Page, is an industry veteran with over 25 years experience in the machine tool business. He will continue to serve as President of Nu-Tech going forward. Over the trailing 12-month period, Nu-Tech's revenues exceeded $4,200,000. Additional information on this acquisition will be available soon at Gateway's website, www.gwyi.com and at www.firstcapitalinvestors.com.
Gateway International CEO Larry Consalvi commented on the acquisition, "I believe that we have completed a very attractive acquisition in the purchase of Nu-Tech Industrial Sales. As a benefit to Gateway International Holdings, Nu-Tech will add incrementally to the business at our two sales divisions, Elite Machine Tool Company and All American CNC Sales, as Nu-Tech's sales force will begin recommending these equipment Companies to its client base. In addition, both Elite and All American will now recommend their customers use Nu-Tech as a preferred supplier for industrial tooling needs. This growth can occur without any cannibalization of existing product lines and in fact expands our current offering to a new level. I look forward to implementing the many synergies that exist between Nu-Tech, Elite and All American. I believe that this acquisition makes Gateway International a stronger company at the corporate level, and I also believe that each of these companies has just become a stronger company on an individual basis as well."
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