AmeraMex International Provides Shareholder Update on $200 Million Agreement
CHICO, CA--(Marketwired - Oct 31, 2014) - AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment for logistics companies (stevedoring/shipping), infrastructure construction, commercial farming and mining companies, provides a shareholder update.
October 8, 2014 the company provided an update pertaining to a $200 million agreement with the Niger government. Under the terms of the agreement AmeraMex will supply trucks and trailers for construction contractors involved with government contracts. In the October 8th update, over half of the trucks and trailers had received the required signed contract and agreement for the down payment. Based on conversations with the Niger government, the remaining trucks and trailers are projected to have signed contracts and agreements before the end of the year. The receipt of these documents by the funding organization should result in the funding of the Niger Agreement.
Once the agreement has been signed, AmeraMex will receive an initial payment and an ongoing revenue flow when each shipment of trucks arrives in Niger. The trucks and trailers will begin shipping from the Chinese manufacturer within approximately four to five weeks after the manufacturer receives the initial deposit from the funding source. This agreement provides for the trucks to ship over a three year period. There is expected to be six shipments of approximately 300 trucks for estimated total of 1,800 trucks.
AmeraMex CEO Lee Hamre commented, "This signed Truck Agreement is picking up momentum and our goal is to have the agreement finalized before year end. The week of November 15, we will be in China meeting with the funding group and the equipment manufacturer to ensure the process proceeds smoothly. When we have updates, we will provide them through news releases. When our traveling schedule is finalized, we expect to schedule a conference call with shareholders. A news release will be disseminated with the conference call date and dial-in information.
"As I stated in the October 8 update, we are always working hard on expanding our core business here in the Americas as we evaluate other projects in Africa. It is important that we have more than one project in the pipeline and the finalization of the truck agreement with the Niger government will allow us to move forward with other potential projects. AmeraMex employees and it board of directors are large shareholders and it is important to the company and all shareholders that we get the Niger Agreement finalized as soon as possible," added Hamre.
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