Thursday January 4, 6:30 am Eastern Time
Press Release
American Millennium Corporation, Inc. Announces Sale of VisTrac Systems to American Consolidators, Inc. for North American Fleet Deployment
GOLDEN, Colo.--(BUSINESS WIRE)--Jan. 4, 2001--American Millennium Corporation, Inc., (OTC Bulletin Board:AMCI - news), announced today that Las Vegas-based American Consolidators, Inc. has issued a purchase order and letter of intent to purchase 50,000 VisTrac(TM) satellite-based systems for tracking and monitoring truck and trailer fleets nationally. The initial purchase order is for 16 VisTrac(TM) systems, followed by an estimated 5,000 systems in the 2001 first quarter. The remaining 45,000 systems are scheduled to be deployed throughout the balance of this year.
Joe Miller, President and CEO of American Consolidators, said: ``We have been testing AMCI's VisTrac(TM) systems for several weeks now, and are very pleased with the results of those tests. We feel that these VisTrac(TM) systems installed on carrier fleets, in both tractors and trailers, will provide some extremely beneficial information for our fleet management.''
``We are very enthusiastic about the relationship established with American Consolidators,'' said Andrew F. Cauthen, president and CEO of AMCI. ``The new purchase order received from American Consolidated is significant.'' Cauthen went on to say that: ``The hardware sale amounts to well over $25 million, and when fully deployed the ongoing airtime revenue will generate an estimated $24 million annually. Recurring revenue from airtime is the focus of AMCI's financial model.''
Miller further stated: ``In addition to occupying a new $7 million, 100,000 square foot facility in Las Vegas in this first quarter, American Consolidated will launch its distribution initiative of this special GPS trailer tracking system designed and developed by AMCI. A letter of intent has been signed for distribution of 50,000 units by year-end, which ultimately would make American Consolidators a giant in the GPS distribution arena for trucking companies throughout North America.'' Miller also noted that several major insurance companies have indicated they would substantially lower insurance premiums because of expected reduction in loss experience with the new tracking, in-cab messaging, and trailer monitoring systems.
AMCI Chairman and Vice President of Business Development, Stephen F. Watwood, stated: ``Two way in-cab messaging is now a major feature that can be added to the list of functions that AMCI's VisTrac(TM) system brings to the mobile asset and transportation industry. AMCI's engineering department has integrated a data terminal with full keyboard and VGA display screen to the VisTrac(TM) tracking and monitoring system. This 'short message' delivery system specializes in sending predefined messages that could have a time stamp or GPS location included in each message. The VisTrac(TM) system is designed to utilize a satellite small data packet delivery system, and can also send free form messages with 'by the byte billing.''' |
