SOURCE: AmeraMex International
CHICO, CA--(Marketwire - Mar 22, 2013) - AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to logistics companies (stevedoring), infrastructure construction, commercial farming and mining companies, announced the expansion of its board with the addition Michael R. "Mike" Maloney.
Maloney holds the position of Director of Public Safety Education and Training at Butte College in Oroville, California. Prior to his position at Butte College, he enjoyed a 32-year career in law enforcement that culminated with his assignment as the chief of Police in Chico, California. Concurrent with his law enforcement career, Maloney has spent nearly 30 years as an educator at the Butte College Police Academy. He is actively involved with neighborhood community groups and has served on the board of directors of several well-known non-profit organizations.
Maloney holds a Bachelor's Degree in Management from St. Mary's College of California, an Associate Degree in Social Science from Butte College, Oroville, California and has completed graduate work in Business Management at the University of Virginia. As a law enforcement executive, Maloney has completed several executive and leadership development programs including the FBI National Academy and the California Law Enforcement Command College.
AmeraMex CEO Lee Hamre commented, "Mike brings a wealth of business experience to the board, from strategic planning and personnel management to the management of multi-million dollar budgets. He will be a tremendous asset as we continue to grow the company and expand its international reach. I and the board of directors welcome his expertise."
In addition to the appointment of Maloney to the company's board of directors March 12, the company conducted a financial conference call in which the following topics were discussed:
- The addition of two sales executives with extensive experience in Africa.
- The SEC audit, which is over 50 percent complete with the goal of finalizing over the next four months. The money budgeted for the completion of the audit has been channeled into the international sales efforts.
- A $7 million project with a customer in Chile. The project is on hold until the funding is complete. Management is in constant contact with the customer.
- A $4 million project with a potential new customer in Peru. The project is on hold until further notice. The company understands that funding of the project has not been budgeted or approved.
- Projects in Africa were categorized as moving forward. With new government officials in place, railroad and farming partners have been contacted to finalize agreements and move these projects to fruition. AmeraMex will receive a commission and an order for equipment pertaining to the projects. The companies are estimating 30-45 days before these projects will be finalized.
- The company is also working on projects in Niger and Algeria. The pre-construction, or bidding on individual jobs for a railway system in Algeria, expected to take place this month, has not yet begun. Management has been told that there are 15 projects, over $300 million each, and we should expect to be awarded the equipment portion of one or two of these projects during the preconstruction planning phase.
- Management recently returned from a trip to Africa pertaining to several infrastructure projects. Government agencies have told management they will have all the requested paperwork and bank guarantees in place within the next four weeks. When this is done the last step is final approval from the funding company in New York.
- To date, AmeraMex has received letters of intent from more than five different companies wanting to buy crude oil, Mazut oil and diesel fuel from its contacts in different parts of the world. The company is now in position to put the packages together and forward letters of intent to the sellers. Management expects formal approval for the shipment of these products within the next 30-60 days.
A replay of the conference call will be available from March 12, 2013 at 5:00 p.m. Eastern, through March 26, 2013 at 11:59 p.m. Eastern. The replay can be accessed by dialing 1.858.384.5517 and entering conference pin number 4604258.
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 has 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.
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.