AmeraMex International in Negotiations With Marchetti Construction to Form Partnership
Expansion Into Tunisia Will Expand AmeraMex Footprint in Africa
CHICO, CA -- (Marketwire) -- 10/27/09 -- AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to infrastructure construction, stevedoring and commercial construction, today announced that it is in negotiations with San Francisco-based Marchetti Construction to partner on construction projects in Algeria and Tunisia.
"Over the last several years we have been expanding our relationships with a number of companies in Africa. Most recently we have focused our attention on Algeria and have been working with the second largest construction company in the country," commented AmeraMex CEO Lee Hamre. "We have been asked to bring an American construction company with strong engineering and design capabilities to form a partnership that would result in the formation of a powerful new construction company to bid on projects in both Algeria and Tunisia. With over one hundred years of combined construction experience, we believe Marchetti Construction will be an outstanding partner."
Hamre continued, "This new partnership, when finalized, will bid on both commercial and infrastructure projects, including new bridges, highways and sewage treatment facilities, office buildings, etc. Marchetti has significant relationships within the industry that will allow us to deal with any phase of heavy construction that comes our way. This agreement is expected to be finalized between the Marchetti Group, AmeraMex International, Inc. and our Algerian partner before the end of the year."
Algeria is the second largest country in Africa and the second largest populated country in North Africa. The country's large oil and gas resources, growing economy and demands for modern infrastructure have brought about a desire for U.S. business partnerships in agriculture and public works projects, to name a few. According to Export.com, managed by the U.S. Department of Commerce's International Trade Administration, the Algerian government has expressed a desire for more U.S. companies to become involved in several sectors, including energy and mines, agribusiness, and water treatment and reclamation projects and water transfer projects.
According to the latest Growth Competitiveness Report 2008-2009, published by the World Economic Forum, the Tunisian economy is one of the most competitive in Africa, and in spite of the global economic slowdown, the country's economy continues to benefit from growing investment in infrastructure. One of Tunisia's leading sectors is agribusiness.
About AmeraMex International
AmeraMex International sells, leases, and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping, mining and logging. AmeraMex'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 North America, South America, 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.
About Marchetti Construction
Marchetti Construction is a general contractor active in new construction and specializes in renovation projects with emphasis on negotiated fast-track commercial work. Offerings range from feasibility studies, conceptual estimating and contract management to quality and cost controls. The company is known for its work with large hotel chains, including the Hilton and Marriott. Well-known projects include the Westin St. Francis Hotel in San Francisco, the Claremont Hotel in Berkeley, and the remodel in New York of the world famous Plaza hotel.
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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