TUSTIN, Calif., March 18, 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 confirmed that it has reached a significant milestone by eliminating its reliance on one customer.
M Line's primary objective in eliminating customer concentrations in its manufacturing business unit came when its largest customer was eclipsed by a growth customer for the first time in twenty years.
Bruce Barren, M Line's CEO stated: "Expanding our business capabilities and eliminating our reliance on one major customer, thus reducing our risk for a major financial setback in the event of its loss has been one of our primary objectives. This objective was and continues to be achieved as we add new customers and restored customers while maintaining profit margins without loss of revenues."
Barren adds: "We are pleased the Company has obtained AS 9100 Rev C certification for the development of proprietary products and selling engineering products. This new approval augments the expansion of our manufacturing capabilities and the ability to further expand our customer mix, this year and moving forward. We are consistently looking for ways to enhance shareholder value."
Tony Anish, COO of M Line Holdings, Inc., stated, "This expansion of our AS 9100 Rev C registration, coupled with our business co-operation agreement with Structural Integrity Engineering, Inc., positions M Line to begin its second objective towards increasing shareholder value by developing proprietary products for use in aircraft. This is just another milestone, in line with our defined business objectives for 2014, that the Company has accomplished in its move forward."
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, UTC Aerospace Systems, Beckman Coulter and BE Aerospace as well as our new relationship with SIE (Structural Integrity Engineering, Inc.). 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.
CONTACT: Investor Relations: Howard Gostrand firstname.lastname@example.org 305.918.7000Source:M Line Holdings, Inc.