Friday April 7, 6:04 am Eastern Time
Company Press Release
American Millennium Corporation Announces New Initiatives in South America
GOLDEN, Colo.--(BUSINESS WIRE)--April 7, 2000--American Millennium Corporation Inc. (AMCI) announced today that several major initiatives were underway in South America following meetings with various companies in Brazil over the past two weeks.
According to AMCI Chairman and Vice President of Business Development, Stephen F. Watwood, AMCI and its Brazilian joint venture associate, Brasil Wireless (BWS), had meetings with an electric utility company, a natural gas provider and a major automotive manufacturer. The purpose of the meetings was to develop pilot programs involving the remote monitoring and tracking of high-value assets.
The Company disclosed early today that the AMCI/BWS joint venture had been invited by CERO, a major Brazilian electric company with approximately 1.6 million meters in use, to submit a proposal for a satellite-based remote meter reading pilot program. The pilot program would involve installing 500 Satellite Communicators (SCs) on CERO electric meters. Once a final agreement has been approved, the installation of the 500 SCs with their monthly airtime revenues would begin immediately, Watwood said.
In an unrelated meeting, AMCI/BWS met with officials at COMGAS, a Sao Paulo-based natural gas provider with approximately 300,000 customers. AMCI/BWS was invited to submit a proposal for a pilot program to equip 10 service fleet trucks with vehicle tracking. Additionally, Watwood said, ``discussions are also underway with COMGAS for remote meter reading as well.'
In yet another development not connected with the utility companies, AMCI officials noted that a pilot program has been approved for vehicle tracking in the truck division of a major automotive manufacturer located in Brazil.
``We believe this is an exciting and significant opportunity for AMCI to rapidly expand its subscriber base for the satellite tracking of moving assets and remote reading of meters,' stated AMCI President and CEO, Andrew F. Cauthen. ``Our tracking and monitoring solutions have global applications. I fully expect to see a sharp increase in our subscriber base throughout this year,' he added.
Watwood further pointed out that certain applications developed by AMCI/BWS have proprietary value. ``We believe that our mapping software, usable on any communications platform, gives AMCI/BWS a strong first-to-market advantage. AMCI is able to offer tracking and monitoring solutions to a wide rage of industries. Any single one of these recent initiatives has the potential to result in sizeable orders for SCs and monthly airtime,' he said.
AMCI is a provider of wireless and wire-line solutions for tracking moving assets and remote monitoring fixed assets through a network of Low-Earth-Orbit Satellites (LEOs), geo-stationary satellites, and Local Area Networks (LANs). To date, the company has hundreds of SCs in the field tracking, monitoring, and reporting data on oil wells, natural gas compressors, and light trucks. Subscribers to the AMCI service pay monthly fees similar to long distance telephone or cable television for access to the system.
This press release contains forward-looking statements that could involve risk and uncertainties that could cause the company's actual results and experience to differ materially from anticipated results and expectations expressed herein. In particular, AMCI's plans may be revised, and its actual results may differ materially from that indicated by its current plans.
AMCI's web page address is amc-wireless.com.
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Contact:
American Millennium Corporation, Inc., Golden
Andrew F. Cauthen, President & CEO, 303/279-2002
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More Quotes and News: American Millennium Corp Inc (OTC BB:AMCI.OB - news)
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