Amiworld Announces Key Strategic Initiatives
Friday August 22, 4:20 pm ET
CEO Cites Business Acceleration Program and Commitment to Aggressive Revenue and Earnings Growth
NEW YORK--(BUSINESS WIRE)--Amiworld, Inc. (OTCBB: AMWO - News), an international energy company engaged in the production and distribution of diversified fuel products and services with a focus on emerging global economies, today announced several key strategic initiatives for the balance of fiscal 2008 and 2009.
“While the past year has been gratifying in terms of development and the rapid building of revenues, our initiatives over the next year will allow us to realize our aggressive short-term revenue and earnings goals as well as establish a long-term basis to maintain or exceed our outstanding growth to date,” said Mamoru Saito, Chief Executive Officer of Amiworld.
With Amiworld’s primary focus remaining on the expansion of its energy production and distribution facilities to full capacity, management today released several key initiatives that will extend the Company’s high growth through the balance of 2008 and beyond.
Mr. Saito outlined the initiatives for the remainder of fiscal 2008 and for 2009:
* Continuation of announced facilities’ expansion to triple diesel and biodiesel production.
* Establish increased crude and palm oil inventories to meet rising demand from current and new contracts.
* Build oil-trading fleet by leasing and purchasing ships.
* Explore plant expansion to establish an in-house 5/95 blending facility.
* Completion of the NASDAQ listing process.
* Work with the Port Authority in Santa Marta, Colombia, to improve infrastructure to facilitate the increased movement of energy products.
“Our global management team’s unique ability to identify outstanding revenue opportunities in the traditional and alternative energy sectors are key to our growth,” said Mr. Saito. “Amiworld intends to become a preeminent energy producer and distributor not only in South America, but worldwide.”
Into 2009 and Beyond
* Triple diesel production to 100,000 barrels per month. Amiworld’s subsidiary Odin Petroil SA has signed a facility expansion contract with FISS Project Development Petroleum LTDA, worth approximately $8.6 million. Once completed in late 2008, the Company’s petroleum diesel production will triple to 100,000 bpm.
* Open new crude oil supply sources. The Company is looking beyond Colombian sources to Venezuela to increase the amount and quality of crude oil to meet demand for its diesel fuel and other energy products. Supply of this type will allow increased production of higher end, higher margin refined products.
* Grow International oil trading and shipping business. The Company has one leased ship scheduled to arrive later this year and intends to add more ships with a plan to establishing its own fleet. Controlling transport is the key to building a successful oil trading and export business.
* Complete planned expansion of its biodiesel facility. Surplus lands on the site have the potential, depending on licensing considerations, for an in-house 5/95 biodiesel blending facility. Once the biodiesel facility expansion is complete, planned for 2009, the Company expects to produce 108,000 tons per year; triple its current production.
* Conclude application for a full NASDAQ listing. The Company feels that given its rapid growth and potential, this type of high quality market exposure will increase the Company’s visibility, build shareholder value and gain enhanced access to high quality financing opportunities to further accelerate future growth.
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