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AmeraMex International in Negotiations With Marchetti Construction to Form Partnership
Expansion Into Tunisia Will Expand AmeraMex Footprint in Africa
| Source: AmeraMex International
CHICO, CA--(Marketwire - October 27, 2009) - AmeraMex International, Inc. (PINKSHEETS : AMMX ),
a provider of heavy equipment to infrastructure construction, stevedoring
and commercial construction, today announced that it is in negotiations
with San Francisco-based Marchetti Construction to partner on construction
projects in Algeria and Tunisia.
"Over the last several years we have been expanding our relationships with
a number of companies in Africa. Most recently we have focused our
attention on Algeria and have been working with the second largest
construction company in the country," commented AmeraMex CEO Lee Hamre. "We
have been asked to bring an American construction company with strong
engineering and design capabilities to form a partnership that would result
in the formation of a powerful new construction company to bid on projects
in both Algeria and Tunisia. With over one hundred years of combined
construction experience, we believe Marchetti Construction will be an
outstanding partner."
Hamre continued, "This new partnership, when finalized, will bid on both
commercial and infrastructure projects, including new bridges, highways and
sewage treatment facilities, office buildings, etc. Marchetti has
significant relationships within the industry that will allow us to deal
with any phase of heavy construction that comes our way. This agreement is
expected to be finalized between the Marchetti Group, AmeraMex
International, Inc. and our Algerian partner before the end of the year."
Algeria is the second largest country in Africa and the second largest
populated country in North Africa. The country's large oil and gas
resources, growing economy and demands for modern infrastructure have
brought about a desire for U.S. business partnerships in agriculture and
public works projects, to name a few. According to Export.com, managed by
the U.S. Department of Commerce's International Trade Administration, the
Algerian government has expressed a desire for more U.S. companies to
become involved in several sectors, including energy and mines,
agribusiness, and water treatment and reclamation projects and water
transfer projects.
According to the latest Growth Competitiveness Report 2008-2009, published
by the World Economic Forum, the Tunisian economy is one of the most
competitive in Africa, and in spite of the global economic slowdown, the
country's economy continues to benefit from growing investment in
infrastructure. One of Tunisia's leading sectors is agribusiness.
About AmeraMex International
AmeraMex International sells, leases, and rents heavy equipment to
companies within four industries: construction (light and infrastructure),
shipping, mining and logging. AmeraMex's largest product line is
specialized container handling equipment that enables stevedoring companies
to quickly and efficiently load and offload container and general freight
ships dockside. AmeraMex, with customers in North America, South America,
Asia, and Eastern Europe, has over 30 years of experience in heavy
equipment sales and service and inventories top-of-the-line equipment from
manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment.
For more information visit the AmeraMex website, www.AMMX.net.
About Marchetti Construction
Marchetti Construction is a general contractor active in new construction
and specializes in renovation projects with emphasis on negotiated
fast-track commercial work. Offerings range from feasibility studies,
conceptual estimating and contract management to quality and cost controls.
The company is known for its work with large hotel chains, including the
Hilton and Marriott. Well-known projects include the Westin St. Francis
Hotel in San Francisco, the Claremont Hotel in Berkeley, and the remodel in
New York of the world famous Plaza hotel.
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.