PLYMOUTH, Mich., Aug. 3, 2005 (PRIMEZONE) -- The Board of Directors of AmeriChip International Inc. (OTCBB:ACHI) is pleased to announce that it has reached a major milestone after the completion of five (5) months of extensive testing with a major Fortune 500 automotive parts manufacturer.
AmeriChip International has been working diligently with process engineering in the transmission division and is preparing quotations for the machining of the first of several parts. These trials have been conducted in the manufacturing plants and the laboratory of strategic partners, GSI Lumonics and Seco-Carboloy with a view to producing less expensive parts. As a result of the LACC process, AmeriChip has successfully substantiated that it can significantly lower the manufacturing cost per piece.
Marc Walther, CEO of AmeriChip stated, "I am very confident that we are at the beginning of a rapid growth phase for the AmeriChip, and I am also confident that we will see an increasing revenue stream leading to profitability. The customer has formed an implementation group to adapt the LACC process as part of a core technology embracing AmeriChip's LACC process for long chip producing materials. Over the next several months, AmeriChip will continue to provide time studies and quotations on the machining of many different component parts for manufacturing in AmeriChip's licensed plants. The customer has identified significant cost savings in thru put, cost reduction by the elimination of coolant as it relates to dry machining, scrap reclamation and overall handling, capital equipment investment per part number, reduced tool cost and the amount of labor required to produce machined parts."
Headquartered in Plymouth, MI, AmeriChip International Inc., a process technology company, holds a patented technology known as Laser Assisted Chip Control, the implementation of which results in efficient chip control management in industrial metal machining applications. This technology provides substantial savings in machining costs of certain automobile parts providing much more competitive pricing and more aggressive sales approaches within the industry.
The innovative AmeriChip business model, enhanced by its AmeriChip Tool and Abrasives subsidiary, is designed to establish an extensive resource for cost saving services and products that all cost conscious industrial steel and aluminum machining companies require. AmeriChip is committed to keeping jobs in America for Americans.
This release may include projections of future results and "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward looking statements. Although management believes that the expectations reflected in these forward looking statements are reasonable; it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations disclosed in this release, including, without limitation, in conjunction with those forward looking statements contained in this release.