HADERA, Israel, May 17, 2005 (PRIMEZONE) -- Malers Automation and Control Ltd. ("Malers") (Pink Sheets:MSNC) today announced that the Company has changed its trading symbol to MSNC.
The change in the symbol comes following the execution of a 1000:1 reverse stock split today, leaving the total issued and outstanding shares at less than 15 million.
"We are pleased that the new trading symbol better represents the name of the Company," notes Ronen Luzon, CEO of Malers, "and we are hopeful that our new stock symbol and capital structure will help us to open new doors in the future."
Malers' Board of Directors finalized the decision last week regarding the decision to effectuate the reverse split. The trading symbol is changed automatically, as a requirement of the SEC, and the Company took the opportunity to choose a symbol that is closer to the Malers name and disengages from any association with Global Explorations.
About Malers
Malers Automation and Control Ltd. is an Israeli systems company that develops, manufactures, sells and maintains automation and control systems for industrial applications. The Company produces turn-key systems that replace labor intensive, error prone and costly manual production and monitoring functions. Since the Company's inception in 1996, Malers' custom designed systems have been installed in major industrial applications worldwide. Their systems offer centralized and remote control of complex manufacturing processes, and data collection and analysis systems.
For more information, please contact Joel Gering, at 011-972-52-398-3374 or malers-a@malers-automation.com or visit us on the Web at www.malers-automation.com.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.