posted
Patriot Mechanical Handling Signs Exclusive Marketing Agreement With EMCE Friday May 5, 10:49 am ET
Patriot to Represent EMCE Winch/Hoisting Equipment Throughout the Americas
HOUSTON, TX--(MARKET WIRE)--May 5, 2006 -- Patriot Mechanical Handling, Inc. (Other OTC:PMHH.PK - News), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that the company has signed an exclusive agreement during this year's Oil Conference in Houston, Texas, with EMCE a Netherlands-based manufacturer of winches and hoisting equipment. The agreement provides Patriot exclusive marketing rights to EMCE's product line in North and South America for a two-year period. ADVERTISEMENT
Paul Findlay, CEO of Patriot, stated, "We are very pleased to represent EMCE's line and believe their entire range of quality products are not only complementary to our offering, but they also support our strategy of providing complete packaging of equipment for mechanical handling solutions to the offshore drilling industry." He added, "We are now aligned with a number of companies, including EMCE that will allow us the ability to compete in a broader market while addressing our clients who require a total package."
EMCE has over 40 years experience in design, engineering and manufacture of winches for numerous markets. EMCE product advantages include optimal simplicity, efficiency, compact size, quality, performance, customization, durability and safety.
About Patriot Mechanical Handling
Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc. (PMH) is a comprehensive engineering and product supplier for all mechanical handling solutions in the oil and gas industry. In addition to this, Patriot is a licensed representative for some of the finest & most well established brands in the lifting and mechanical handling business. Our success is based upon effectively meeting the customer's needs prior to, during and most importantly after the product has been delivered. Our personalized service is unrivaled. We frequently monitor the quality of our products to insure our customer's satisfaction, and offer equipment that is guaranteed safe for use and fit for purpose.
More information is available by contacting the company directly. Information is available on the web at: http://www.patriotmh.com.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Posts: 328 | From: nj | Registered: Jan 2006
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Finally, people are starting to notice this stock! Guy's this is just the start.
I have a few PMHH, but as a UK resident know the UK company GME very well. Bought a few more today.
This is a definite 'no brainer'when you reseach it. Only 50c yet the parent paid $2 for to up stake from 71% to 83% last summer!!! It's got o/s orders of +$35m and is in profit as of Q4 2005
Posts: 318 | From: UK | Registered: Mar 2006
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posted
man.. owl..i pulled out because the stock never performed..i bought in and took losses..the gap is way too high.. so will be watching it close..
Posts: 270 | Registered: Apr 2006
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posted
I was in last year at $1.30 too and took losses at 0.45c. Unfortunately a fund bought in then sold which hammered the stock. Also naked shorts (so I understand from Cap Group) look to have hit the stock from $1. If it goes anywhere near there again they'll need to look out!!!
That doesn't mean it's a bad company, and Mr Baer (Patriot subsidiary new CFO) will prove it is worth $2 in a months time. That's why I'm back in now. I know the UK company GME very well, and so far PMHH hasn't responded to the fact 10 institutions have bought 60% (each more than 4%) on the back of PMHH prospects, and possibility of take-over, jv & big contracts.
This is also why the announcement late Friday is important re www.emce.nl exclusive agreement.
Late May/early June will see lots of announcements which will take this beyond $2.
Here's news from a month ago released in UK. Patriot is just a whisper so far. very few investors onboard, which is also why I'm in now. No way will 10 big institutions (including UBS), Invesco let this one go
------------------- Oilfields firm set fair with £20m in orders By Mark Casci A Shipley oilfield services company which does business all over the world has announced nearly £20 million worth of orders this year.
Global Marine Energy has contracts worth £19.4 million on its order book for the next 12 months.
The firm has acquired £10 million worth of new business since November alone and expects to announce a series of contracts in the coming weeks.
The firm has its headquarters in Shipley, where most of the design and engineering planning is done. The manufacturing is then done at its bases in Houston, Texas; Brazil and Singapore.
Finance director Andrew Gibson said: "95 per cent of our design work is done in Shipley.
"The majority of our business is done in the offshore oil and gas industries.
"Some of our business also involves producing access equipment such as doors etc for nuclear submarines and the Ark Royal.
"We turned over £12 million last year and are hoping to turn over £20 million this year."
The current contracts that the firm is working on are based in Brazil and Malaysia.
The firm was founded in 1988 and now employs 250 worldwide, 45 of whom are based at its Shipley headquarters.
The company was listed on the Alternative Investment Market (AIM) in 2001 and was restructured into two separate divisions in 2003, following the appointment of new chairman Philip Wood.
Patriot provides handling equipment to the offshore oil and gas industries while NIM Engineering ltd provides marine access to the gas and oil industries.
The firm, based on Wharf Street, changed its name from MOS International last year.
The company made the announcement of its new business contracts following a downturn in profits last year.
The losses, caused by extensive restructuring at the company, were overcome in the final quarter of the year up to March 2006 as the firm looks towards a brighter financial year.
Mr Wood said: "The year to March 2006 has still been one of substantial growth and, most importantly, the company has returned to profit in the final quarter."
e-mail:mark.casci*bradford.newsquest.co.uk
4:17pm Tuesday 4th April 2006
No one knows these facts in the US yet because the IR/PR is nolt integrated. The person doing the IR left to set up her own business. She may be returning shortly I understand.
Posts: 318 | From: UK | Registered: Mar 2006
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posted
GME do not now need NIM (their other subsidiary) to provide winches for Patriot.
They may sell off - removing big fixed cost so Patriot get more funds, and remain the key focus of the business.
Posts: 318 | From: UK | Registered: Mar 2006
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posted
See how the ask was 0.40 for a little while but it jumped to 0.46 and it stayed there for the rest of the dy.....(though the quote price was 0.37...) which is kinda strange.... Makes me feel like someone wanted people to sell thinking that price is dropping...(while the ask remained high.i.e 0.46)....Somethings up!!
-------------------- This is not a recommendation to buy or sell securities. Posts: 1206 | Registered: Feb 2006
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MM's were quite happy to take loads of 10k sells at 41/42c before finally widening down to 37c.
Also there was only one acceptance at 37c. Anything below 50c is fabulous, anything near $1 will push out naked sells.
The other thing is GME the parent was being mopped up by Schroders last week. The reason for GME being successful is the Patriot subsidiary, so they wouldn't be mopping up unless dead certain Patriot is due for a re-rating - specially in advance of the results to be released end June. (NB: June is very early for GME - they've never released before September (latest they are allowed to release) if you check back over last 4 years)
Unfortunately, I can't pick up this dip! I'm hoping to get another 6k next week, when some funds arrive on Thursday. I've alreasdy picked up a few at 50c & 51c recently and am quite content with that despite the drop Friday.
I'm just hoping PMHH don't release stuff before then.
Posts: 318 | From: UK | Registered: Mar 2006
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I contacted management re the EMCI deal, as I could not understand why they needed EMCI if they have their NIM subsidiary to provide the winches.
The problem is NIM cannot supply the orders Patriot are gobbling up quickly enough, so they've had to go for 'off-the-shelf', as well as keeping NIM for larger reeler type winch oil equipment.
Their reply is below: ----- 'NIM are still a good product supplier in the market they operate. We are in a different, but sometimes “crossover” market for similar products.
I explained, NIM are tailor-made and EMCI are standard / much smaller winches.
EMCI do around 1500 winches per year for example.
We need a competent and short term supplier to meet the needs for our current “drilling package” quotations. NIM could do it, but they are fully loaded already. Therefore I took the decision to add a supplier to our capabilities
We do and will continue to promote the NIM range for the larger reelers etc.
EG< a number of companies approached me at OTC to gain quotations for the large reelers. The problem with the industry today, is they do not accept that in today’s market deliveries are way out and therefore they cannot simply get quotes, and orders placed with deliveries for this year for example'
------------
Hope this helps if others had the same question.
ps it's worth knowing Patriot trades on a discount to it's parent company UK GME.
Meanwhile, despite now just turned profitable GME trades on a forward PE of only 4.6!! Industry norm is closer to 20. Altium Capital raised price target for GME to 75p in January. GME shares are only 24p!!!
No one,well only a few, know about both of these heavily undervalued shares...
Posts: 318 | From: UK | Registered: Mar 2006
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posted
Is the spread on this real or did they just park the ask at .47 for the weekend? Volume is thin on this too. Does she move fast? Any idea what float is? Think I may get in Monday, or Tuesday depending on other stocks.
-------------------- Thanks Matto. Thanks Juice. Posts: 2945 | From: USA | Registered: Feb 2006
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posted
Johnwayne - $8.6m contract just announced. MM's want stock so have done a tree shake - crafty!
Here it is and more to come....
Patriot Mechanical Handling Announces $8.6 Million Marine Deck Crane Order From China National Petroleum Offshore Engineering Co, LTD Monday May 8, 11:11 am ET
Order Represents the Fifth Contract Signed With Chinese Energy Producers Over the Past 12 Months
HOUSTON, TX--(MARKET WIRE)--May 8, 2006 -- Patriot Mechanical Handling Inc. (Other OTC:PMHH.PK - News), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that it has received an order valued at $8.6 million USD from China National Petroleum Offshore Engineering Co, LTD. The order is for 8 marine deck cranes, spare parts, training and commissioning of the equipment. Training will occur in the Patriot facilities in Houston, with the cranes being delivered to Xingang Seaport, China, upon completion. "We are making tremendous inroads in China, having secured multiple orders over the last 12 months, including this latest order for China National Petroleum Offshore Engineering," stated Paul Findlay, CEO of Patriot. "The growing demand for fossil fuels in China makes this country an important market for Patriot. We will continue to develop our relationships and expand our efforts not only in China but throughout the Far East."
About Patriot Mechanical Handling
Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc. (PMH) is a comprehensive engineering and product supplier for all mechanical handling solutions in the oil and gas industry. In addition to this, Patriot is a licensed representative for some of the finest & most well established brands in the lifting and mechanical handling business. Our success is based upon effectively meeting the customer's needs prior to, during and most importantly after the product has been delivered. Our personalized service is unrivaled. We frequently monitor the quality of our products to insure our customer's satisfaction, and offer equipment that is guaranteed safe for use and fit for purpose.
More information is available by contacting the company directly. Information is available on the web at: http://www.patriotmh.com.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
posted
Crafty lot! Take no notice. This deal is $8.6 plus the $12.4 in Jan = $21m in just 4 months!! - and they are the only ones announced (see RNS re multiple china deals).
PMHH can take loads more, hence the EMCI deal Friday. Mr Baer CFO will prove PMHH is worth $2 in his June report. The auditors are in PMHH & Global Marine right now!
ps News is still to be announced in UK tomorrow when GME will shoot up. If you're not sure, put on watchlist till tomorrow - only risk is spread will move up fast.
If you're in for a P&D don't bother. This ones for trenders till December only. Those who did try a P&D quick in/out have been burned. Go for ethanol instead if you want quick profit. If you want a big profit, DYOR on this company.
Posts: 318 | From: UK | Registered: Mar 2006
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posted
maybe 0.6 is a lil swift considering the way this stock is sluggish...but with a company with this much potential and PR's anticipating 0.6 is not insane
-------------------- Please do your DD. Break some bread with me! Posts: 1138 | From: atlanta | Registered: Apr 2006
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posted
It should be active tomorrow once news is released in UK & people cotton on to what PMHH are doing.
They need one more deal to have potential multi-year orders of over $100m - so far $21m in 4 months and that's just the two announced!!
Mr Baer CFO should prove Patriot is worth $2 price their parent upped stake from 71% to 83% last September. They still own 83% so only 17% restricted. www.patriotmh.com, click 'News' then click 'News' again. or visit www.gmeplc.com (not a good website I'm afraid) and click links to London news.
Posts: 318 | From: UK | Registered: Mar 2006
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posted
Looks good for tomorrow after the $8.6M deal announced today. That's 2 big deals from PMHH this year, and only May!!
Well I've posted on this company enough. You have the info. Everything is verifiable via website, RNS statements in both UK & GME, ringing the 10 institutions holding 60% or via the company no's on RNS's or ring the Chairman direct!
All are possible. When you do, you'll see this is a no-brainer.
No more posts from me. I'm looking to sell above the $3.50 mark. At that point (on present news PMHH is I think too expensive. Up to that point on news available now, $3.50 would be fine in terms of PE, profitability & orders).
Let's see whether the market agrees, or if this continues to remain under-valued.
---------------------------------------------- Please base no decisions on the info I've passed on. Do Own Research Etc. OTC stocks are extremely risky...only invest money you can afford to loose. Remember the market may not agree with me/you - regardless of teh news.
Posts: 318 | From: UK | Registered: Mar 2006
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posted
doesnot seem the market got excited about it. need more attention in the future time. after a short rise, it has been down to 0.30 and holding there for quite a while. this thing has been acting very strange. no so much volume all so.
Posts: 221 | From: kentucky | Registered: Apr 2006
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The UK have totally cocked up the PR on this. I phoned the advisers today.
News has NOT YET been announced, HOWEVER A HUGE 818,000 shares were traded in GME (Patriot's parent) today)
That is the biggest volume for over a year!!!
Last trade today was 200,000 *26p - that's $96,200!! and you're telling me PMHH is not worth 30c - c'mmon!!! Check this out PMHH is at huge discount but not once MM's realise.
Posts: 318 | From: UK | Registered: Mar 2006
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posted
It is in one of Owl's threads posted by someone else.i never save it.I have no reason to lie as i have no position in this stock,but i see you are interested,all it has done is go down and he posts everywhere on this stock.he is an obvious pumper that is failing,as you can see there is absolutely no volume in this stock at all.It may take time to serach through his posts on PMHH,but trust me it is there.Or he can just tell you about it if he is so honest.if he denies it he is lying,it was posted as a scam,so please look into that before you buy this.
Posts: 249 | From: NY | Registered: Mar 2006
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I post links everytime. Just suppose I am correct? Has that crossed your mind Mickey? Mickey you, are looking at one website set up by naked short sellers at $1 mark!!! I agree, the email is a scam - the company is not.
Here is the UK link. Remember, this is a REGULATED market unlike US OTC market.
There are 5 Market Makers making a market in GME. As I have said, the order posted on Patriot has not yet been posted in the UK. They cocked up the commiunications. But look at past news and you'll see the $12.4m Keppel deal you think is a scam!!
This is safer than 95% of OTC stocks because you have a US listing of a REGULATED UK AIM company. Did you know lots of US companies choose UK AIM over the NASDAQ this year??
posted
Looks like the calm before the storm - upwards! MM's getting stock cheap before CFo & audit reveal stock's value in June.
Posts: 318 | From: UK | Registered: Mar 2006
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Patriot Mechanical Handling Wins Chinese Crane Contract Patriot Mechanical Handling Monday, May 08, 2006
Patriot Mechanical Handling has received an order valued at US $8.6 million from China National Petroleum Offshore Engineering Co, LTD. The order is for 8 marine deck cranes, spare parts, training and commissioning of the equipment. Training will occur in the Patriot facilities in Houston, with the cranes being delivered to Xingang Seaport, China, upon completion.
"We are making tremendous inroads in China, having secured Related Products
Value at Risk and Current Trends in Capital Allocation
International Oil Company Financial Management in Nontechnical Language multiple orders over the last 12 months, including this latest order for China National Petroleum Offshore Engineering," stated Paul Findlay, CEO of Patriot. "The growing demand for fossil fuels in China makes this country an important market for Patriot. We will continue to develop our relationships and expand our efforts not only in China but throughout the Far East."
Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc. (PMH) is a comprehensive engineering and product supplier for all mechanical handling solutions in the oil and gas industry. In addition to this, Patriot is a licensed representative for some of the finest & most well established brands in the lifting and mechanical handling business. Our success is based upon effectively meeting the customer's needs prior to, during and most importantly after the product has been delivered. Our personalized service is unrivaled. We frequently monitor the quality of our products to insure our customer's satisfaction, and offer equipment that is guaranteed safe for use and fit for purpose
Posts: 318 | From: UK | Registered: Mar 2006
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posted
Can you answer why the stock has no chart on stockcharts??? I am not worried about legitimacy of the company as much as I am about weather other people like me will join in to figure out what the stocks real worth is!!!
Posts: 270 | Registered: Apr 2006
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posted
PMHH today was like a srong bouncing between 0.30 and 0.37. It close at 0.37, with little volume in it. This morning I didnot see it move before 11. For a while, I thought the market was not open for it. Seems very strange to me with so many good news lately, it didnot fly and slidding down somehow. I like to see its potential though.
Posts: 221 | From: kentucky | Registered: Apr 2006
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posted
yeah I got in *0.37 today .. and shall try to call up the management to see why the stock does not go up .. probably no data available in stockcharts is killing this company. I verified its credentials wrt. other companies where they claimed their contracts came from, got some info about their stock structure etc. and saw thorugh some of the links here by the owl. Now, I am sure this thing would have been way way oversold, and people would be holding just to get thier principle back. Well, I am in and am looking for a quick 100% if this picks up volume atleast 10% of what other nonsense stock like JPHC gets.. GLTA!
Posts: 270 | Registered: Apr 2006
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posted
It will go back to .30 as fast as .37 and yet again,why post on this every single day??? EVERYDAY ! EVERYDAY!GET IT? THAT IS PUMPING A STOCK.ALL THESE DEAL I did see,but not 1 cent upwards,yeah this is a stock I really want,NOT! 21,000 shares today,much interest in this as well,NOT!2 weeks ago you said this was going and it still sucks!But,everyone can make their own decision and I can say my opinions.
Posts: 249 | From: NY | Registered: Mar 2006
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posted
volume volume volume..this thing is screaming for attention.. maybe they should also start PR campaign just like MSEV is doing.. two big oil positions I have taken after NDOL, PMHH and MSEV.. lets see if they go anywhere..
Posts: 270 | Registered: Apr 2006
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.. probably no data available in stockcharts is killing this company. I verified its credentials wrt. other companies where they claimed their contracts came from, got some info about their stock structure etc. and saw thorugh some of the links here by the owl. Now, I am sure this thing would have been way way oversold, and people would be holding just to get thier principle back. Well, I am in and am looking for a quick 100% if this picks up volume atleast 10% of what other nonsense stock like JPHC gets.. GLTA!
