China America Holdings (OTCBB: CAAH)
FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–China America Holdings, Inc. (OTCBB:CAAH – News), a diversified holding company operating in both the United States and China, updated today the company’s business outlook for 2008.
Throughout 2007, management began transitioning the company by diversifying its operations through strategic acquisitions in China in an effort to increase revenue and move the company toward a profitable future. The company was able to make two key acquisitions in China in 2007 and also changed its name to China America Holdings, Inc. in order to more accurately reflect its new business objective.
China America Holdings begins 2008 with two majority owned China based subsidiaries. The first, Shanghai Aohong Industry Company, Limited (“Aohong”), a leading distributor of chemical fluorine products throughout Asia, is 56% owned by our company. Aohong specializes in the processing, distribution, and import/export of a variety of refrigerant and coolant products used in automobiles, air conditioning systems, refrigeration units, and fire extinguishing agents. The second, Big Tree Toys, Inc., a Chinese Toy sourcing and exporting company located in Shantou, China, is 60% owned by our company. Big Tree Toys specializes in sourcing, quality control and logistics in the toy and entertainment related industry in China with over 100,000 toys and entertainment related products. In addition, the company continues to develop and market its biometric and explosive detection products.
Management intends to continue its rapid growth over the next several years through a combination of the expansion of its current operations as well as our continued focus on making accretive acquisitions. Management now anticipates that 2008 will be a record year for the company both in revenue and more importantly in achieving its first profitable year of operations. Based on the company’s preliminary review of our business outlook for 2008 management sees revenue for China America Holdings, Inc. exceeding $50 million and anticipates net income will exceed $1.2 million.
Mr. Dore Perler, Chairman and CEO of China America Holdings, stated: “We enter 2008 in the best position in our company’s history. Our current China based subsidiaries are poised to grow their operations substantially as we expand our existing product lines through the introduction of innovative new products and business solutions for our current customers, as well as continue to add new customers to our growing sales base. We remain committed to our business plan of making accretive acquisitions that we believe will create high-margin revenue opportunities for our company. We are currently evaluating a number of potential acquisition candidates that we believe may be highly complementary to our existing businesses and we intend to aggressively pursue those opportunities in the future.”
About China America Holdings, Inc.
China America Holdings, Inc.™ (CAAH) is a diversified Global Holdings Company with operations in the U.S. and China. China America Holdings has three operating divisions.
Shanghai Aohong Chemical Co., based in Shanghai, China, a distributor of assorted liquid coolants which are utilized in a variety of applications, primarily as refrigerants in air conditioning systems for automobiles, residential and commercial air conditioning systems, and a manufacturer of steel non-refillable cylinders. For more information, please visit http://www.shanghaiaohong.com/English/index.asp.
Big Tree Toys, Inc., based in Shantou, China, is an authorized agent for thousands of toy manufacturers in China. Big Tree represents over 8,000 toy manufacturers. Our product offerings include in excess of 180,000 varieties of toy products including remote control toys, digital toys, sports toys, play sets, educational toys, dolls, and infant toys. Big Tree Toys simplifies sourcing products from China. For more information, please visit http://www.bigtreetoys.com and http://www.bigtreetoysusa.com/.
Sense Technologies, Inc., based in Ft. Lauderdale, FL, is a leading provider of biometric solutions, and micro-sensor identification systems. Sense develops products targeting Homeland Security, and offers solutions that improve and secure many business, military, and personal processes. Sense owns patents and intellectual property for a MEMS based explosives detection technology licensed through a national government laboratory. For more information about us, please visit our corporate website at http://www.chinaamericaholdings.com
Safe Harbor Statement
Statements contained herein, other than historical data, may constitute forward-looking statements. When used in this document, the words “estimate,” “project,” “intends,” “expects,” “believes” and similar expressions are intended to identify forward-looking statements regarding events and financial trends which may affect the Company’s future operating results and financial position. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company’s actual results and financial position to differ materially from those included within the forward-looking statements. These risks and uncertainties include, but are not limited to, the Company’s ability to generate meaningful revenues and achieve profitable operations; its ability to obtain necessary capital; whether biometric fingerprint technology is accepted in the marketplace; whether the Company is able to develop and successfully market products incorporating MEMS technology; whether it can compete in a challenging marketplace; and whether the Company can successfully integrate its technology with other technologies to create commercially viable products. Additional risks and uncertainties are set forth in the Company’s SEC filings including its Annual Report on Form 10-KSB and registration statements filed under the Securities Act of 1933, as amended.
Contact:
China America Holdings, Inc., Fort Lauderdale
Dore Perler, CEO, 954-726-1422 Ext 101
dore@senseme.com
Source: China America Holdings, Inc.
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