AmeriChip International Receives First LACC Production Order From Eaton Corporation
CLINTON TOWNSHIP, Mich., Jun 4, 2008 (PrimeNewswire via COMTEX) -- AmeriChip International, Inc. (OTCBB: ACII) received its first Laser Assisted Chip Control production order from Eaton Corporation, Truck Components. Eaton is a profitable, worldwide, diversified manufacturer with over $13 billion in annual revenue.
Kenneth W. Mann, CEO of AmeriChip, said, "AmeriChip secured the Eaton order because we are the only Tier One supplier* able to offer Laser Assisted Chip Control technology. Based on LACC technology, AmeriChip is the lowest cost supplier."
* Tier One Supplier definition: qualitydigest.com
VALIDATION
"This new Eaton order validates AmeriChip's unique, patented, proprietary Laser Assisted Chip Control (LACC) technology. Our LACC technology has the potential of reducing costs in the turning manufacturing industry worldwide," Mann continued.
"We are currently in advanced discussions and negotiations with a number of our other blue chip clients for LACC technology implementation across a number of products."
IMPLEMENTATION
"When successfully implemented, this specific gear order will be billed at up to $1.2 million. We expect this gear production order to generate consistent, recurring top line revenue because we are essentially becoming a strategic manufacturing partner with Eaton," concluded Mann.
The pre-production approval process (PPAP) starts today on the first 10 gears, with the full PPAP to be completed by July 31, 2008 of about 3000 parts. Once the first 10 gears are run through their PPAP process, AmeriChip will be asked to produce additional batches of 300 each until the PPAP process is complete. AmeriChip will be shipping manufactured parts to three (3) Eaton truck component plants.
Thereafter, AmeriChip anticipates receiving additional, ongoing Eaton purchase orders for this particular gear. AmeriChip also expects Eaton to provide additional RFQ's to manufacture other product families using LACC technology.
About Eaton Corporation
Eaton is a profitable, worldwide, diversified manufacturer with over $13 billion in annual revenue.
eaton.com
About AmeriChip International
americhiplacc.com
Headquartered in Clinton Township, MI, AmeriChip International, Inc. holds a patented technology known as Laser Assisted Chip Control, which can be used to re-engineer the manufacturing process for industrial metal machining applications.
For more information, visit our website at www.americhiplacc.com or contact investor relations, Cynthia Prince, americhip@att.net, 800-650-1708 ext 101, Fax 888-234-1796
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