AmeraMex Pursues Aggressive Acquisition Strategy
CHICO, CA — July 16, 2007 — AmeraMex International, Inc. (OTC: 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 then 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.
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