Today before the opening bell, National Automation Services, Inc. announced that it is in the process of settling outstanding debt with its creditor(s). In progress for some time, this initiative is anticipated to positively impact the company’s bottom line and nearly obliterate all debt on the company’s balance sheet in the applicable fiscal period.
This move will also allow National Automation to move forward steadfastly as it executes a strategic acquisition strategy. As mentioned in prior press releases, the company plans to acquire targeted automation firms throughout the U.S. in the first quarter of 2011 with the goal of capitalizing on the synergies and efficiencies possible by consolidating a portion of the highly fragmented automation industry.
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