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AmeriChip International Inc. Completes Acquisition of KSI Machine & Engineering Feb 20, 2007 8:45:00 AM CLINTON TOWNSHIP, MI -- (MARKET WIRE) -- 02/20/07 -- The Board of Directors of AmeriChip International, Inc. (OTCBB: ACHI) is pleased to announce that it has finalized the acquisition of KSI Machine & Engineering ("KSI") of Clinton Township, MI. www.ksimachine.com. Effective immediately, the KSI facility is now the World Headquarters of AmeriChip International Inc. The Plymouth Operation will remain as the facility for its subsidiary AmeriChip Tool & Abrasives www.americhipta.com.
KSI was a privately held company that was owned and operated by the Kotsonis family for over 40 years. AmeriChip International will inherit the KSI Tier One Status within the automotive industry and its strong credit history. KSI is now a wholly owned subsidiary of AmeriChip International Inc. with 50,000 sq. ft. of manufacturing space and is considered a leader in the machining industry. The test lab and launch facility for AmeriChip will be located in the Clinton Township facility headed up by Edward Rutkowski, Founder and Chief Technology Officer prior to moving into a new production facility.
Mr. Walther the CEO stated that the sales for the fiscal year 2007 of KSI Machine & Engineering are projected to be $5.8 million with gross profit of $2.5 million. It will be Mr. Walther's role to expand the sales of the KSI business model while pursuing further acquisitions. Richard Rossmann, President and COO, will focus on the AmeriChip business model in the automotive, agriculture, heavy truck, aircraft, marine and oil pipe industries.
Senior management of AmeriChip would like to express their gratitude to the Blue River Financial Group of Grand Blanc, MI, www.legacy-assurance.com, for their participation in the successful acquisition of KSI Machine & Engineering.
Headquartered in Clinton Township, MI, U.S.A., AmeriChip International Inc., a patented technology company, holds a patented technology known as Laser Assisted Chip Control, the implementation of which results in efficient chip control management in industrial metal machining applications. This technology provides substantial savings in machining costs of certain automobile parts providing much more competitive pricing and more aggressive sales approaches within the industry.
The innovative AmeriChip business model, enhanced by its AmeriChip Tool and Abrasives subsidiary, is designed to establish an extensive resource for cost saving services and products that all cost conscious industrial steel and aluminum machining companies require. AmeriChip is committed to keeping jobs in America for Americans.
For more information, visit our website at www.americhiplacc.com or, contact R. Windsor at 905-898-2646 or, send an e-mail to r.windsor*americhiplacc.com.
This release may include projections of future results and "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable; it can give no assurances that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations disclosed in this release, including, without limitation, in conjunction with those forward-looking statements contained in this release.
Contact R. Windsor 905-898-2646 r.windsor*americhiplacc.com
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It's all in the timing... Posts: 4303 | From: DSA | Registered: Dec 2003
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