Gateway International Holdings Announces Acquisition of Spacecraft Machine Products, Inc.
/24-7PressRelease.com/ - ANAHEIM, Calif., April 3, 2005 - Gateway International Holdings, Inc. (OTC.PK: GWYI) announced today that it has acquired Spacecraft Machine Products, Inc. Spacecraft Machine Products ("Spacecraft'') is headquartered in Southern California and has been in operation for over 35 years. The Company operates primarily in the Aerospace and Defense industries. Major clients include Northrop Grumman (NYSE: NOC), Raytheon (NYSE: RTN) and Boeing (NYSE: BA). Spacecraft also maintains clients in other industries including Walt Disney Co.'s (NYSE: DIS) Disney Imagineering Division.
Lloyd R. Leavitt III is the President of Spacecraft Machine Products. Mr. Leavitt has been named the Chief Operations Officer for Gateway International Holdings, replacing Mr. Joseph Gledhill, who will remain the President of the Eran Engineering subsidiary. Mr. Leavitt's father, Lt. General Lloyd R. Leavitt (Retired -- Air Force) is a Principal of Spacecraft Machine Products and is joining the Gateway International Holdings Advisory Board.
For the 12-month period from 2/1/2004 through 1/31/2005, Spacecraft achieved revenues in excess of $2,000,000. More information on this acquisition will soon be available at Gateway's website, http://www.gwyi.com and at http://www.firstcapitalinvestors.com.
Gateway International CEO Larry Consalvi commented on the acquisition; "Spacecraft Machine Products represents a positive new component to our growing portfolio of companies. We have identified a number of potential synergies between Spacecraft and our existing operations and believe that the addition of Spacecraft will open the door to new business opportunities throughout our organization.'' He concluded, ''The addition of Lt. General Leavitt to our Advisory Board adds an incalculable amount of credibility and experience to our organization, particularly in the Aerospace and Defense sectors where his contacts and experience are certainly a tremendous asset.''
"SAFE HARBOR'':
This press release may contain forward-looking statements. The words 'estimate', 'possible' and 'seeking' and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements 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 set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
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Contact:
Gateway International Holdings, Inc.
Investor Relations:
First Capital Investors, Inc.
Dante Panella
407-656-9600 x 107
GWYI@firstcapitalinvestors.com
http://www.firstcapitalinvestors.com
Source: Gateway International Holdings, Inc.
Gateway International Holdings is a featured Company on HomelandDefenseStocks.com
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