ATEG - American Technologies Group
Inc. (ATG) (OTC BB:ATEG) Thursday announced that it has received the largest
single order for its products in the history of the company.
A Central American company, EnviroPower, S.A., has placed an initial order for
ATG's liquid fuel additive totaling $1.85 million. In a letter confirming the
order, the president of EnviroPower stated, "Our initial order is for a total of
US$1.85 million and is primarily for use in Costa Rica, Nicaragua and Mexico."
The letter went on to state that it is his intention to expand distribution
throughout Central America and into selected countries in South America over the
next several months. The letter of credit for the first order is currently being
negotiated and is expected shortly.
Commenting on the order, ATG Chairman and CEO Lawrence J. Brady said, "This
order represents the most significant development in and proof of the turnaround
of ATG. The planning and work which we have done for the last two and one half
years is bearing fruit."
He went on to say, "two ATG representatives have been working on location in
Central America for more than three months to negotiate and secure this order.
It has taken a considerable amount of effort and patience to complete this
order, and that effort and patience has now richly paid off for ATG and its
shareholders."
Brady concluded, "Our representatives are currently negotiating a continuing
agreement with EnviroPower, which will virtually assure the profitability of the
company and provide a powerful base from which to continue the company's growth
and stability. I expect similar agreements and orders in other markets in the
near future."
Included in this release are forward-looking statements which the company
believes are 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.
Although the company believes the expectations reflected in such forward-looking
statements are reasonable; it can give no assurance that such expectations
reflected in such forward-looking statements will prove to be correct. The
company's actual results could differ materially from those anticipated in the
forward-looking statements as a result of certain factors including sales
levels, distribution and competition trends and other market factors.
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
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CONTACT: American Technologies Group Inc., Monrovia
Lawrence J. Brady, 626/357-5000
or
FNG & Associates Inc.
George Mottel, 949/723-3830
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