RONKONKOMA, N.Y., March 26, 2004 (PRIMEZONE) -- Trans Max Technologies, Inc. (OTCBB:TMXT), is pleased to announce that an agreement in principle and a definitive Letter of Intent has been signed to acquire Advance Micro Power Corporation (AMP) of Ronkonkoma NY.
Peter Mergenthaler, CEO of Trans Max Technologies, Inc. (Trans Max) states, "AMP is the final piece that was needed to drive our Perma-Tune division to the heights we recently projected of $120,000,000 in sales in the near future."
Trans Max has also agreed to purchase their state of the art manufacturing and research facility that is housed in a 14,000 foot building.
It is anticipated that the acquisition will be finalized within forty-five days.
About AMP
AMP designs miniature circuit boards and has the production equipment believed to supply all of Trans Max's needs well into the future. AMP brings a roster of clients with applications and uses in the Medical, Industrial, Military, Commercial and the Telecommunication fields into the Trans Max fold.
AMP has a wealth of talent. Led by Kamal Mahajan, whose Ph D research is in Humidity and Thermal Management in Fuel Cells, and assisted by a team of multi talented engineers, they along with Lonnie Lenarduzzi, President of Perma Tune Electronics, Inc. a division of Trans Max Technologies, Inc., will form the nucleus of our electronics research and development team.
AMP's engineers have been working with Perma-Tune's Plasmatronics division in the developing and miniaturization of the Plasma Drive Ignition System, the Digital Fire Engine Management System and the Flat Panel Vessel Control System.
AMP also functions as a technology incubator for small high tech entrepreneurs. They rent office space from AMP and are available to assist in the many engineering and software disciplines. AMP builds prototypes for their projects and if they are successful in marketing these products, AMP manufactures these products.
AMP in calendar 2004 is projecting sales in excess of $4,000,000. In the near future AMP is projecting sales in excess of $10,000,000.
Trans Max Technologies, Inc. and its wholly-owned subsidiary Perma-Tune Electronics, Inc. through its Plasmatronics division is a developmental Company engaged in the automotive and marine electronics industry and has several cutting edge products that were recently introduced at the Miami International Boat Show. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "will," "anticipated," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Trans Max Technologies Inc. takes no obligation to update or correct forward-looking statements and also takes no obligation to update or correct information prepared by third parties which is not paid for by the Company.