CHICO, Calif., April 23, 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 second twelve-month equipment rental agreement with a west coast logistics company.
Under the terms of the new twelve-month agreement, AmeraMex will provide the logistics company three additional loaded container handlers netting the company approximately $486,000 over the initial twelve-month period. March 26, 2014, the logistics company entered into an agreement to rent equipment generating approximately $648,000 for the life of the initial twelve-month agreement. The seven handlers, including delivery and return, will generate total revenue of $1.3 million over a twelve-month period.
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 each handlers will retain a resale value of approximately $200,000. The container handlers were purchased September 2013 and refurbished at the AmeraMex facility in Chico, California. The company has one container handler remaining in inventory from the September purchase.
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