| | NEWS ... American Commerce Solutions, Inc. Renews Acquisition Commitment
/FROM PR NEWSWIRE MIAMI 305-461-8666/
TO BUSINESS EDITOR:
American Commerce Solutions, Inc. Renews Acquisition Commitment
BARTOW, Fla., Jan. 29 /PRNewswire-FirstCall/ -- American Commerce
Solutions, Inc. (OTC Bulletin Board: AACS) today reiterated its acquisition
commitment while updating its strategy and progress.
"Since last August, we have been actively pursuing acquisition
opportunities to facilitate growth anticipated by the business plan. Since
completion of the acquisition of Chariot Manufacturing Company, Inc. we have
expended a significant amount of cash and management resources to provide the
opportunity for Chariot to meet the growing demand for product and add value
to the parent, American Commerce Solutions, Inc. As of this date, outstanding
proposals approach a quarter of a million dollars, and the closing ratio is
above projections. Because growth demands an ever-evolving production plan,
our four new movable buildings are comparable to those used by yacht builders
and other producers of fiberglass products. We are prepared for the excellent
opportunities afforded by Chariot, but we have also prepared for the next
acquisition. We expect to have a signed Letter of Intent by the end of next
week," explained Daniel L. Hefner, President and Chief Executive Officer of
American Commerce Solutions, Inc.
The next acquisition will be a "job shop" according to Hefner. "A job shop
is a manufacturer that typically does not specialize in a single product but,
rather, produces a variety of products for other manufacturers in the form of
specific parts, but not necessarily the whole finished good. For instance, a
job shop might produce just the hatches for a boat manufacturer, a fender for
a trailer manufacturer or a door panel for a car manufacturer. Although a job
shop may produce a product of its own, it is more likely to produce a wide
variety of products using the molds of other manufacturers," he said.
Hefner went on to say, "Our current emphasis is on the fiberglass
industry. We will continue to build on the start that we have made with
Chariot. This multi-billion dollar industry has much to offer those who pursue
its opportunities. Some of those opportunities may seem somewhat mundane while
others are exciting in the scope of their potential. One such opportunity is
in the area of recycling. As previously announced, it is our intention to make
that a potential part of the American Commerce Solutions, Inc. future.
Negotiations continue in that regard and progress is being made."
Hefner continued, "Through the company's e-mail address,
info@aacssymbol.com, we have received many inquiries about the company's
expansion plans and progress. We also receive many telephone calls from
stockholders closely following the company's movements. We are, of course,
limited in our ability to respond in specifics. We will continue to encourage
requests for information about the company as well as the stockholders
comments about our performance. Fresh ideas and perspectives are welcomed from
those who have a vested interest in the success of the company."
Hefner continued, "The business plan of American Commerce Solutions, Inc.
is the blueprint of our future and success. The Board of Directors is
committed to growth by acquisition and increasing shareholder value through
reduced balance sheet debt and/or increase in the asset base."
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: The statements contained in this release that are not historical, are
forward-looking statements that are subject to risks and uncertainties that
could cause results to differ materially from those expressed in the forward-
looking statements, including but not limited to, certain delays and risks
detailed from time to time in the company's filings with the Securities and
Exchange Commission.
SOURCE American Commerce Solutions, Inc. |
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