AmeraMex Announces Feasibility Study to Begin on Farming Project
CHICO, CA – April 15, 2011 – AmeraMex International, Inc. (OTC: AMMX), a provider of heavy equipment to maritime logistics companies (stevedoring and shipping), infrastructure construction projects and commercial farming organizations, today announced that it and its farming partner have received a letter of authorization to proceed with the feasibility study necessary to launch a farming project in Africa. The study is expected to be completed within 90 to 120 days after which time identified equipment needed to begin the project will be shipped by AmeraMex.
AmeraMex CEO Lee Hamre commented, “We are pleased to get the project underway and the feasibility study is the first step. Conservatively, we believe the first and second phase of this project could generate orders in excess of $50 million over an 18 to 24 month period following the successful completion of the feasibility study.”
Hamre noted that the company's commodities division could begin shipping coffee beans within the next few weeks if the Ivory Coast's political unrest continues to diffuse. “Our goal is to reach breakeven by the first quarter of 2012 and the commodities division will play a significant role in helping us reach this goal,” added Hamre.
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