CHICO, CA--(Marketwired - Apr 22, 2015) - AmeraMex International, Inc. (
First Quarter Projections:
Revenue for the first quarter is projected to be approximately $936,000 with gross profit for the quarter of approximately $563,000. Profit for the quarter is expected to be approximately $25,000.
Niger/International Update:
AmeraMex CEO Lee Hamre met with the director of ECOBank, the lead funding organization for the Niger truck project. The bank has all documents required from the three sub-contracting Niger banks and the next step is to provide the completed contract to AmeraMex. Once provided, the contract will be reviewed by the American funding group for final approval. At this time management does not foresee any issues. Once the American funding organization approves the contract, trucks will begin shipping within 45 days. The trucks will ship over a five-year period in trances of 100 trucks, or $12 million. These shipments are expected to take place every two to four months. Approval by the American funding organization must be in place before shipment begins.
The potential order pipeline in Africa is approximately $415 million and consists of a Niger Military project and a solar project in Senegal. ECOBank is in discussions with the World Bank regarding the funding of the Military project. The government of Senegal has funds in place to move forward. The military equipment project is six to 12 months away and the solar project is 12 to 18 months away.
Core Business:
Today the company announced an order totaling approximately $410,000 for refurbished construction equipment. The order, from a Senegal construction company, could expand to another 20 pieces of equipment within the next 60 days and orders for an additional $4 to $5 million in the fall. The company's core business pipeline of potential orders is approximately $8 million.
The company also announced that its year-end financials are being provided to the company's securities attorney along with additional corporate information needed to produce a letter in accordance with the OTC Marketplace rule. The letter will allow the removal of the 'Yield' sign on the AmeraMex symbol. Management expects to have the 'Yield' sign removed within 60 days.
About AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex, with customers in the Americas, Africa, 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 or www.hamreequipment.com.
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.
Contact Information:
Investor and Media Relations
McCloud Communications, LLC
Marty Tullio
Managing Member
Office: 949.632.1900