Management of Medina International Holdings, Inc. (Pink Sheets: MIHI) signed a lease to rent a manufacturing facility in the city of Corona, California.
"This new larger facility will enable us to consolidate production process in one location with substantial reduction in rent compared to the Costa Mesa Facility," said Daniel Medina, President of Medina International Holdings, Inc. Medina also stated that, "The Corona manufacturing facility is close to the lakes and the ocean, in addition to many watercraft related vendors."
"The Corona facility was previously leased by a boat manufacturer, providing us with the necessity of minimal modifications of building to manufacture our watercrafts," said Madhava Rao Mankal, Chief Financial Officer of Medina International Holdings, Inc. "The new facility will enable us to increase our manufacturing capacity."
(www.medinamarine.com)