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AmeraMex International Acquires Sierra Industrial Equipment
AmeraMex Pursues Aggressive Acquisition Strategy
| Source: AmeraMex International
CHICO, CA--(Marketwire - July 16, 2007) - AmeraMex International, Inc. (PINKSHEETS : AMMX ),
a provider of heavy equipment to port operations, construction, logging and
mining companies, announced today that it has completed the acquisition of
Las Vegas, NV-based Sierra Industrial Equipment. The acquisition was made
with a combination of cash and AmeraMex Common Stock. Additional details
pertaining to the acquisition were not disclosed.
Sierra Industrial Equipment (SIE) rents, leases, and sells a variety of
equipment to companies in Las Vegas and surrounding areas. In addition to
an inventory of equipment, Sierra has a complete service and parts
department specializing in the repair and servicing of AC, Baker, Barrett,
Cat, Cark, Crown, Hyster, Komatsu, Mitsubishi, Nissan, TCM, Taillift,
Toyota, Worldlift, and Yale equipment. SIE currently services over 80
accounts representing more than 300 pieces of equipment. Sierra has focused
on the equipment service arena but is looking forward to growing their
sales department with the addition of the AmeraMex product lines.
"We are pleased to become part of the AmeraMex International family,"
commented Sierra Industrial COO Rodney Womack. "Under the AmeraMex umbrella
we will be able to provide our customers with an expanded inventory and a
geographical reach to meet all of their equipment needs in the Las Vegas
area and beyond. We have retained all of our employees and, over the next
few months, expect to relocate to larger facilities to meet increasing
demand for heavy equipment and service," added Womack.
"Sierra Industrial Equipment and AmeraMex have the same philosophy, the
customer comes first," said AmeraMex CEO and President Lee Hamre. "Rod, who
has been named to the AmeraMex board of directors, brings over 40 years of
industry experience, an excellent sales and service team, and a stellar
reputation within the industry. We look forward to significant growth
within Sierra Industrial over the next twelve months."
"Sierra Industrial is our first acquisition as a public company," continued
Hamre. "Our business plan outlines an aggressive acquisition strategy that
will expand our inventory, geographical reach, and customer base. We have
identified several excellent acquisition candidates and expect to complete
two additional acquisitions within the next several months."
About AmeraMex International
AmeraMex International carries a large inventory of heavy equipment, which
it sells, leases, and rents to a variety of industries including U.S. port
operations, heavy construction, light construction, and mining. AmeraMex's
largest product line is specialized container handling equipment for
loading and unloading of container ships. AmeraMex has over 30 years of
experience in heavy equipment sales and service and carries top of the line
equipment from manufacturers such as Taylor Machine Works Inc., Terex Heavy
Equipment, and Barko Hydraulics.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
and as such, may involve risks and uncertainties. Forward-looking
statements, which are based on certain assumptions and describe future
plans, strategies, and expectations, are generally identifiable by the use
of words such as "believe," "expect," "intend," "anticipate," "estimate,"
"project," or similar expressions. These forward-looking statements relate
to, among other things, expectations of the business environment in which
the Company operates, projections of future performance, potential future
performance, perceived opportunities in the market, and statements
regarding the Company's mission and vision. The Company's actual results,
performance, and achievements may differ materially from the results,
performance, and achievements expressed or implied in such forward-looking
statements.