AmeraMex International Inc. (AMMX)

[garronsc]

Additional Research - Part 2

In the Ameramex press release on July 30, 2014, Lee Hamre makes the following quote: "Initially the funding organization required one Niger Bank's guarantee but then requested a second bank's participation. We have received the two banks' commitment letters and the next step is for the banks to prepare and submit their bank guarantees to the lender". Source: http://globenewswire.com/news-release/2014/07/30/654553/10091898/en/AmeraMex-International-Provides-Niger-Update.html

The following news article was released in August 2014 (the same time period as the press release above) and it seems to corroborate Ameramex's statement about the two banks. Its also important to note that Ameramex made their statement before this article was published.

Source: http://www.google.com/translate_c?langpair=fr|en&u=http://www.lesahel.org/index.php/component/k2/item/6358-atelier-de-communication-et-de-promotion-du-projet-de-renouvellement-du-parc-des-v%C3%A9hicules-de-transport-public-au-niger--dimportantes-facilit%C3%A9s-consenties-par-letat-pour-favoriser-lacquisition-de-v%C3%A9hicules-de-transport-public-%C3%A0-l%C3%A9tat-neuf

Communication Workshop and promoting Renewal Project Park Public Transport Vehicles in Niger: Important facilities granted by the State to promote the acquisition of public transport vehicles in mint condition

The Ministry of Transport in collaboration with the European Union held this morning at the Grand Hotel of Niamey, a communications workshop and promoting fleet renewal project of public transport vehicles in Niger. It is the Minister of Transport, Mr. Saley Saidou who chaired the opening session in the presence of his counterpart Equipment, Chargé d'Affaires ai of the Delegation of the European Union to the Republic of Niger, Rafael Aguirre Unceta, responsible leaders of this issue of the vehicle fleet and several guests.

The Nigerian government is committed to a policy of reform and modernization of infrastructure including the transport sector. It is in this context that the Department of Transport has been implementing since 2013 a project to renew the public transport vehicle fleet with the support and Institutional Support to the 10th EDF road program. In his workshop opening speech, the Minister Saley Saidou recalled that the National Assembly adopted in April 2014 a law code investments in the Republic of Niger. '' The special feature of this law is to promote the development of socio-economic activities by stimulating investment in Niger, '' he has said.

Transport Minister noted that the Investment Code gives for the first time in Niger, an important place in the transport sector. '' It is one of the major instruments of renewed funding of the public transport fleet in Niger, '' said Mr. Saley Saidou. Indeed, the new Investment Code grants exemptions for the acquisition of public passenger transport in new condition, up to ten (10) buses and spare parts in a proportion of 10% the value of each bus; the acquisition of public transport of goods in the new state to the tune of at least five (5) trucks and spare parts in a proportion of 20% of the value of each truck. Transport Minister to ensure that it will also negotiated the establishment of credit lines in the various banks in the market. '' Already, two banks responded favorably and agreements will be signed soon, '' said Mr. Saley Saidou.

According to the Minister of Transport, so it was deemed necessary after a year of implementation of the project and the adoption of incentives discussed above to organize this communication and promotion workshop whose main objective is to improve the competitiveness of the sector. The workshop will be, he says, especially the opportunity to communicate the benefits of the Investment Code for the transport sector to facilitate investment and financing of import of new vehicles. To this end, it shall be a first assessment of the project activities as well as technical presentations including the impact on the benefits provided by the carrier code of Investments and the steps to take to benefit the mechanisms of guarantee funds AFD and SAHFI TANYO, incorporation procedures for small carriers OIE or society, the facilities offered by the banks, etc.

Previously, the Chargé d'Affaires of the Delegation of the European Union in Niger, Rafael Aguirre Unceta, indicated that in the framework of the implementation of the 10th EDF National Indicative Programme (European Development Fund), the EU has spent the Transport Sector profit totaling 165 million euros, in form of donations, about 110 billion FCFA. The support of the European Union is to allow not only the rehabilitation of 600 km of main paved roads and 170 km of earth roads throughout the country, but also the support of the government's reform policy transport sector to enable it to play its pivotal role in the development of economic and commercial activities in the country. It is in this context that the EU finance an institutional support project and a program estimate for the Ministry of Infrastructure and Transport, for a total amount of € 4.3 million or approximately 2.8 billion FCFA over a period of three years (2012-2014).

According to Mr. Rafael Aguirre Unceta, vehicle fleet renewal project, especially for the heavy truck fleet, is one of the main supporting measures the policy of the fight against overloading of trucks, the leading cause of premature deterioration of roads in Niger, the Nigerian government is trying to fight through the implementation of Regulation No. 14 of the WAEMU.

Stressing that the construction and road maintenance are very expensive to the state, the Chargé d'affaires park renewal indicated thus enable Niger to have a modern fleet of vehicles complying with international technical standards not only allow it to reduce accidents , boost the activities of transport of goods and people inside and outside the country, but especially to preserve its road assets premature degradation due to overloading.

*** End of Article ***

Alternative article source justifying the August 2014 date: http://www.google.com/translate_c?langpair=fr|en&u=http://news.aniamey.com/h/19660.html

I know that this article mentions "at least five (5) trucks" which is nothing compared to the 1500 tractors and 1500 trailers mentioned in the original news articles from January 6, 2014, but this article specifically mentions the same vehicle renewal project and the same role of the 10th EDF in guaranteeing the funds which was prominent in the January 6, 2015 news articles. (see Reply link for Jan 6 articles)

The next and final post (Part 3) will show some interesting relevance about "SAHFI" and "TANYO" which are referenced in the news article above and how they appear to also corroborate some of the Ameramex press releases.