Thursday, May 28 2009 9:45 AM, EST AmeraMex International Plans Launch Into Ghana Construction Market Market Wire "US Press Releases " CHICO, CA -- (MARKET WIRE) -- 05/28/09 -- AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to stevedoring, infrastructure construction and mining companies, today announced the company has teamed with Michigan -based Railmark Inc. to propose a program for the rebuilding of Ghana's rail system. The initial phase of the program is valued at approximately $245 million . The complete project, including the repair or replacement of the 650-mile rail system, is estimated at $900 million . The program has been presented to the President of Ghana , and AmeraMex has been formally invited by the Minister of Transportation to meet in Accra, Ghana , on June 16 to discuss the issuance of contracts.
In addition to the rebuilding of Ghana's rail system, hand-picked personnel will be sent to the U.S. for a one-year training program that will include both classroom education and on-the-job training by Railmark personnel at one of their larger railroad companies.
AmeraMex's partner in the project, Railmark Inc. , has performed extensive construction and project management for new rail systems in developing countries around the world. The company operates in several segments of the industry including railroad operations, tract construction and maintenance and rail freight logistics. The company also develops and markets a line of environmentally safe wood railroad ties, bridge components and railcar decking.
As part of the overall program, AmeraMex will provide a rock crushing system to Ghana for the manufacturing of ballast rock for the reconstruction. At the end of the project, the system will remain in Ghana to provide maintenance of the rail system. The final component of the program calls for Railmark to install their patented system for the manufacture of environmentally friendly railroad ties, which compete favorably with the traditional creosote ties currently used in a number of countries. The manufacturing plant in Ghana will remain operational for maintenance of the new railroad and to manufacture and export railroad ties to other African nations.
"We have been developing this project with the Ghana government and Railmark over the last six months," said AmeraMex CEO Lee Hamre. "Not only does this program provide significant opportunity for AmeraMex and its shareholders, but it provides new job opportunities for the people of Ghana and a considerably improved transportation system. The strength of AmeraMex International is its ability to develop networks for the distribution of equipment and expertise in developing countries, as well as in the U.S.," added Hamre.
AmeraMex has a compounded annual growth rate of 26.98 percent for the past two years. Revenue for 2006 was $16.8 million. Management expects revenue for 2007 to be approximately $19.0 million
AmeraMex has added a specialized line of equipment for the loading and unloading of ocean-going shipping containers. The company has signed orders for 2007 in excess of $9.0 million with ports located in Long Beach and Oakland, CA, Settle, WA and Dutch Harbor, AK.
AmeraMex has a clearly defined strategy to find synergistic opportunities in the U.S. and to expand its international reach. AmeraMex currently has customers/distributors in over 12 countries. As AmeraMex places new equipment with U.S. customers, they are able to purchase older equipment — well respected brands that may not meet EPA Tier III requirements, refurbish it to like-new condition, and market it to developing countries that have difficulty obtaining or cannot afford new heavy equipment. The company’s target markets for sales of refurbished equipment are Canada, Indonesia, Pakistan, Germany, Singapore, Vietnam, China, Russia, India, the Middle East, Africa, Central America and Mexico.
Summary: AmeraMex International carries a large inventory of heavy equipment, which it sells, leases and rents to a variety of industries including U.S. port operations, heavy construction, light construction and mining. With over 30 years of experience, AmeraMex's largest product line is specialized container handling equipment for loading and unloading of container ships. The company carries top of the line equipment from manufacturers such as Taylor Machine Works Inc., Terex Heavy Equipment, and Barko Hydraulics.
07/30/09 -- AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to infrastructure construction, stevedoring and mining companies, today announced it has signed a Memorandum Of Understanding ("MOU") with Mike Hammah, Ghana's Minister of Transportation.
The MOU outlines the financial terms and project milestones for the initial phase of $245 million rail project. AmeraMex is partnering with Michigan-based Railmark Inc. to provide a cohesive program for the rebuilding of Ghana's rail system.
The project proposal, including the repair or replacement of the 650-mile rail system, estimated at $900 million, was presented to Hammah in June.
Management expects to have the first of two agreements signed in mid August. AmeraMex and Railmark will be working with the Export-Import Bank of the U.S. ("the Bank"), which provides support to small U.S. businesses engaged in the export of U.S. products and services through financing and insuring foreign purchases of United States goods for customers unable or unwilling to accept credit risk. The Bank was developed to create and sustain U.S. jobs by financing sales of U.S. exports to international buyers, and is chartered as a government corporation by the Congress of the United States. Additionally, the company is exploring the possibility of utilizing the World Bank as a consulting and funding source.
"Despite the current global economic downturn, African countries continue to experience above average growth and, according to the International Monetary fund, will see a positive growth rate of 3.5 percent in 2009," said AmeraMex CEO Lee Hamre. "Ghana is one of the world's top gold producers. In 2007 an oilfield reported to contain up to three billion barrels of light oil was discovered; and oil exploration is ongoing. Ghana remains one of the more economically sound countries in all of Africa and desires to provide an infrastructure that allows for continuing growth," added Hamre. Posts: 1580 | From: World | Registered: Jul 2006
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
