CHICO, Calif., March 26, 2014 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies (stevedoring/shipping), infrastructure construction, logging and mining companies, announced that it has entered into a twelve-month equipment rental agreement with a west coast logistics company.
Under the terms of the twelve-month agreement, the logistics company will rent refurbished loaded container handlers from AmeraMex. The rental is expected to generate revenue of approximately $648,000 for the twelve-month period. Projecting increased growth, the logistics company is anticipating the rental of four additional loaded container handlers for a twelve-month period. The additional rental agreement would increase the monthly rental to $108,000 per month, or $1.3 million for the life of the two agreements.
The refurbished loaded container handlers are capable of stacking loaded shipping containers four high in dock storage areas and are valued at approximately $220,000 each. At the end of the rental agreement the handlers will retain a value of $200,000 each. The container handlers were purchased September 2013 and refurbished at the AmeraMex facility in Chico, California.
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.
CONTACT: Investor and Media Relations McCloud Communications, LLC Marty Tullio, Managing Member Office: 949.632.1900 Marty@McCloudCommunications.comSource:AmeraMex International