AmeraMex International Adds Commodity Division
Network of Contacts in Africa and U.S. Presents Lucrative Opportunities for AmeraMex
CHICO, CA – September 2, 2010 – AmeraMex International, Inc. (OTC: AMMX), a provider of heavy equipment to stevedoring (logistics companies), infrastructure construction and mining companies, today announced the company is expanding its target markets to include agriculture commodities with the opening of its AmeraMex Commodity Division. Management anticipates providing an update to shareholders and the investment community in the next few weeks regarding the status of projects in Africa.
AmeraMex just received its first contract, accompanied by a Letter of Credit, to begin delivering coffee beans to a roaster/distributor in Algeria. Under the terms of the agreement, the company will ship a 300 ton sample delivery of coffee beans to the roaster. A successful sampling of the beans for fragrance, acidity, body and desirable flavor will result in an agreement to ship in excess of 2,000 tons of beans monthly for the next twelve months. This arrangement is expected to increase net income by approximately $1.75 million.
AmeraMex CEO Lee Hamre commented, “We are working on a number of large projects with partners in Africa and have built a network of influential contacts. Our relationships with these contacts have created additional opportunities for AmeraMex that may appear to fall outside the heavy equipment/transportation sector but are still synergistic to our customer base. For example, we are well acquainted with the agriculture industry through our relationships with commercial growers in California where we sell, rent and service a variety of farm equipment used for loading and handling of crops as well as field preparation. This relationship gives us the opportunity to purchase product from existing and potential customers in California’s central valley for shipment to our contacts in Africa – a win, win for all.”
According to Jim Rodgers, CNBC, inventories of food are the lowest they’ve been in 50 years and agriculture will be one of the greatest industries of the next 20 to 30 years. A recently published report from the Food and Agriculture Organization of the United Nations (FAO) stated one-third of the world population is lacking food security and the FAO estimates world food production will have to double to provide food for the eight billion people projected for 2025. At current levels of consumption, countries like Africa, Latin America, Asia and North America would have to significantly increase food production. Africa alone would have to increase production by 300 percent to provide minimally adequate diets.
With the continuation of the economic downturn within the U.S., especially in shipping and heavy construction, AmeraMex will continue to explore opportunities in other countries and other sectors to drive revenue growth, increase profitability and eliminate dependence on U.S. markets.
About AmeraMex International
AmeraMex International sells, leases, and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping, mining and agriculture. 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 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 .
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