HOFFMAN ESTATES, Ill., Aug. 30, 2004 (PRIMEZONE) -- American Capital Alliance, Inc. (OTCBB:AMAI), announced that it has completed the transaction to acquire American Petroleum Products Corp. of Bedford Park, IL. American Petroleum is a manufacturer and bottler of premium blended motor oils, anti-freeze, transmission fluid, and other lubricants such as brake fluid and cleaning fluids.
American Petroleum's facility has in the past produced at a capacity of $70,000,000 in annual revenues, and with the updated facility and new company affiliations and private label bottling arrangements, American Petroleum revenues will ramp-up rapidly. With the demand for oil and prices at its highest, American Capital Alliance feels the completion of this acquisition will position it for dramatic revenue and earnings growth for the fourth fiscal quarter.
The Company will be announcing several management and Board of Director changes in addition to acquisition, and the new team will outline new plans for expansion in Michigan, New Jersey and California in the coming weeks
American Capital Alliance, Inc. is a corporate holding company in several aspects of the petroleum industry. Primarily in the motor oil industry, such as bulk motor oil distribution, as well as the bottle motor oil industry. American Petroleum's management has made their mark in the Private Label Bottling sector for some of the major oil companies in the U.S. American Capital also plans to exploit several opportunities for Private Labeling of Motor Oils for several well know retail chains throughout the United States, as well as several anti-freeze and brake fluid private distribution agreements for a few well known national automotive repair facilities. Another big area for growth is in the recycled or "uncombusted" oil industry, through a new marketing relationship in Michigan, that the Company plans to launch in late fall 2004.
The statements which are not historical facts contained in this press release are forward looking statements that involve certain known and unknown risks and uncertainties, including but not limited to, changes in the market for Internet or distribution services, regulatory and technological changes, economic factors, increased competition, foreign currency devaluation, foreign market risk, and the nature of supplier of customer arrangements which become available to the Company in the future. The Company's actual results may differ materially from the results discussed in or implied by any forward-looking statement. The words "intend," "expect," "should," "project," and "anticipate," and similar expressions identify forward looking statements. Readers are cautioned not to place undue reliance on these forward looking statements which speak only as of the date they were made.