The acquisition BlueStar Machinery, Inc. ("BlueStar")will bring in more revune, profit, and also cut down on current overhead costs!!
From PR yesterday:
"This will save considerable freight charges that are incurred for shipping our machinery from the East Coast or Midwest to Southern California and will also save BlueStar freight charges shipping equipment from the West Coast to Illinois."
Tony Anish, COO of M Line, further stated that "With this first acquisition, we anticipate over $20 million revenues for fiscal 2015 and EBITDA of over $4 Million. This is just the first step in our expansion plans. More acquisitions are on our agenda."
BlueStar Machinery, Inc. is an Illinois Company that has been in business since 2001. The business has steadily increased revenues achieving over $8 Million in the year ended 12/31/2013. E.M. Tool Company has been doing business with BlueStar for many years. BlueStar buys, refurbishes and sells high end Japanese CNC equipment including manufactured by Mori Seiki and Okuma plus other machinery manufactured by Hurco, Kitamura, Fadal and Toshiba boring mills. BlueStar carries machinery inventory of approximately $1,500,000 at sale prices.
For more information on BlueStar see their web site at www.bluestarmachinery.com
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