CEDAR RAPIDS, Iowa, Sept. 13, 2005 (PRIMEZONE) -- American Pallet Leasing, Inc. (OTCBB:APLS), a vertically integrated manufacturer and logistical supplier of pallets, announced today that it has appointed a special committee to review its acquisition program. The committee, composed of members with expertise in the fundamental aspects of the pallet business, will explore location, financing and the economic suitability of acquisitions, as well as related matters, such as the type of wood procurement that best fits each pallet-manufacturing acquisition.
James F. Crigler, APL's President and Chief Executive Officer, said that the Committee's review will focus on the basic premise of APL's business, the manufacture and distribution of pallets and the application of APL's unique hub and spoke strategy. "There are numerous opportunities for diversification in the future, but for now, our job is to concentrate on our core business. That means acquiring manufacturing locations that can serve as hubs for the regional and national distribution of pallets; obtaining sound, creative financing; exploiting the most economical wood sources and; building APL's business deliberately, according to our original business plan."
Mr. Crigler continued, "Currently, we have several acquisition candidates on the table. Financing has already been arranged for one that meets our criteria, and our committee will be considering the others very carefully. The ones we select will be announced as the acquisitions are completed."
About American Pallet Leasing Inc.
APL is a vertically integrated manufacturer and logistical supplier of pallets. The Company is engaged in an acquisition roll-up of strategically located wood pallet manufacturers and saw (lumber) mills. Management's goal is to create a "Closed Loop Distribution System" by transforming the $1.6 billion-per-year pallet business from a commodity industry into a logistics management enterprise that will supply and manage the pallet requirements of manufacturers and distributors. APL intends to acquire saw mills as an efficient means of sourcing lumber for its wood pallet manufacturing operations. APL also holds patents on proprietary galvanized steel pallets and intends to begin manufacturing them upon receipt of additional capital. So far, all of APL's revenue has come from its sawmill operations, but the Company currently is negotiating management and logistics contracts to supply and manage the customers' complete pallet needs.
Disclosure Statement
The statements contained in this press release that are not historical are "forward-looking statements" within the meaning of 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"), including statements, without limitation, regarding our expectations, beliefs, intentions or strategies regarding the future. APL's intends that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, among other things: (1) APL's' expected revenue and earnings growth; and (2) estimates regarding the size of target markets. These statements are qualified by important factors that could cause APL's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) APL's ability to obtain development financing as and when needed; (2) APL's ability to generate and sustain profitable operations; (3) the market's acceptance of APL's products and services; (4) significant competition from other pallet manufacturers and suppliers; and (5) APL's ability to protect its intellectual property. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties as more fully described in the company's periodic filings with the Securities and Exchange Commission.