AmeraMex International Announces Shipment of $3.5 Million Order
Board Members Purchase AmeraMex Common Stock on the Open Market
CHICO, CA — January 20, 2009 — AmeraMex International, Inc. (OTC: AMMX), a provider of heavy equipment to the stevedoring (shipping and logistics) industry, construction sector, and logging and mining companies, today announced that it is beginning 2009 with the first shipment of a $3.5 million order of container handlers to a West Coast logistics company. The entire order is expected to be shipped by the end of the first quarter. Management also announced that it has ended 2008 with the final shipment of a $14 million order of Taylor Machine Works loaded container handlers and forklifts.
“While we have not announced our year-end revenue numbers for 2008, we already have exceeded our projections for the year with reported revenue of $19.3 million for the nine month period, ended September 30, 2008,” said AmeraMex CEO Lee Hamre. “We are off to a good start this year and expect to see continued growth in both our domestic and international business.”
Logistics support companies represent a large market for AmeraMex, as logistics companies are expanding their fleets and replacing older equipment with EPA Tier III-compliant container handlers. Transferring cargo in an efficient and timely manner is a necessity at all cargo ports, as time is money. The material handlers (large capacity fork lifts), manufactured by Taylor Machine Works and distributed by AmeraMex, streamline what has been a time consuming and labor intensive effort, by enabling the stevedores or dock workers to move or store containers safely and quickly.
Hamre continued, “The devastation of the financial markets and housing industry has taken a considerable toll on the stock market and on micro-cap companies, such as AmeraMex, in particular. With reported revenue of approximately $20 million, we consider AmeraMex stock to be grossly undervalued, when compared to a number of stocks listed on both the OTCBB and NASDAQ. Therefore, another board member and I recently purchased over half a million shares of AmeraMex in the open market, and will continue to purchase additional stock at appropriate times over the next several months.”
Management also announced that it has negotiated an agreement with the California Board of Equalization to bring its account current.
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.
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.
Media and Financial Contact:
McCloud Communications LLC
# # #