TUSTIN, Calif., March 11, 2014 (GLOBE NEWSWIRE) -- M Line Holdings, Inc. (OTCQB:MLHC) ("M Line" or the "Company"), a leading provider of products, assemblies and services to the precision high tech segment of both the aerospace and medical industries as well as a seller of high end pre-owned Japanese Computer Numerically Controlled ("CNC") Equipment, today announced that the Company successfully pursued and reactivated new orders from one of its largest former customers.
This now brings M Line's total to 3 major reactivated customers since the start of fiscal 2014, re-enforcing its channeled marketing strategy. In addition, M Line has added 5 new customers each with enormous growth potential, paralleling growth forecasted for the entire Commercial Aerospace industry.
Tony Anish, COO of M Line Holdings, Inc., stated; "The reactivation of a fortune 500 customer has again made us realize that we have a very effective team approach to the business and to both old and new customers. This now brings M Line's core customer base to nineteen, up from twelve (a 55% increase), compared to fiscal 2013."
In 2013 Airbus and Boeing alone received over 2,800 orders for new planes. At the end of 2013, driven by the need for fuel efficiency, the backlog of commercial jets for these two aerospace giants was over 10,600 aircrafts, which equates to approximately 10 years of production.
Bruce Barren, CEO of M Line Holdings, Inc. stated; "Almost every aerospace company's stock performance throughout 2013 has been excellent with some increasing in value by over 60%. We are determined to emulate this performance. M Line has continued to grow its sales and profitability, which should, in time, result in an increase in valuation that has been experienced in most other aerospace companies. Our team is working even harder to improve shareholder value with a concentrated focus on the business by sustained operational results."
About M Line Holdings, Inc.
M Line Holdings, Inc. (OTCQB:MLHC). M Line provides products and services to the precision high tech segment of both the aerospace and medical industries as well as selling high end pre-owned Japanese Computer Numerically Controlled ("CNC") Equipment. Key customers of our group include Panasonic Avionics, Beckman Coulter, SIE (Structural Integrity Engineering, Inc.) and BE Aerospace. The Company is headquartered in Tustin, California. For more information see our website at http://www.mlineholdings.com/
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Forward Looking Statements
This news release contains certain "forward- looking statements." Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company's control. The forward-looking statements are also identified through the use of words "believe," enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict" "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from these forward-looking statements as a result of a number of risk factors detailed in the Company's periodic reports filed with the SEC. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved.