AmeraMex International Provides Update on Northern African Project
Total Potential Five-Year Contract Valued at $500 Million
CHICO, CA – July 9, 2013 – AmeraMex International, Inc. (OTC: AMMX), a provider of heavy equipment for logistics companies (stevedoring), infrastructure construction, commercial farming and mining companies, provides a update pertaining to a potential five-year contract valued at $500 million. Under the terms of the contract, AmeraMex will replace heavy capacity trucks and trailers owned by the Department of Transportation in a North African country. The name of the country is not provided due to the competitive nature of the transaction.
The funding package for the replacement equipment has been approved by a New York City-based lending agency, subject to Bank Guarantees issued by the North African country’s minister of finance. African Bank Guarantees can be problematic and require backing of a major corresponding European bank known by the lender. If the Bank Guarantees are acceptable to the lender, AmeraMex will receive a complete list of required equipment from which to prepare a detailed proposal. The proposal will be presented to the Minister of Transportation for negotiations in preparation of a final contract. A signed contract must be provided and approved by the lender to complete the transaction. The total value of the contract, if all guarantees are accepted by the lending agency, will be approximately $500 million in gross sales over a five-year period.
AmeraMex CEO Lee Hamre commented, “This is the culmination of many months of work and negotiations. A contract of this size will provide AmeraMex the funding to grow and expand the company, which will significantly increase shareholder value. We believe getting the first contract signed by the Minister of Transportation will open the door to many additional contracts within Northern Africa – the first one is always the most difficult.”
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 International'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 maintains an inventory of 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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