CHICO, Calif., June 3, 2014 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies (stevedoring/shipping), infrastructure construction, commercial farming and mining companies, announced that Agreement with Niger's Minister of Transportation has been signed and will shortly be submitted for financial review by lenders. The total value of the Agreement is valued at $200+ million with the initial phase worth approximately $30 million. The Agreement must meet with approval of the lenders before it can be executed.
In addition to the truck Agreement being submitted to the financing entities, the $80 million Memorandum of Agreement for the solar project is on track and expected within the next 30 to 45 days.
AmeraMex CEO Lee Hamre commented, "We have successfully been selling refurbished equipment into an expanding international customer base and the demand for refurbished equipment continues to grow. One of our business strategies involves the continuing acquisition of used equipment from our U.S. customer base as well as other organization. We recently located two packages of used container handlers and trucks valued at approximately $1.5 million and have entered a bid on both packages. The equipment, once refurbished, it is expected to have a retail value of approximately $3 million."
Hamre continued, "We have a large potential project pipeline and are committed to keeping our shareholders updated as orders are signed and specific milestones met."
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, 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 or www.hamreequipment.com .
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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