NEWS RELEASE - Amcor retains Cruttenden Roth, an indication of their continued commitment to growth
AMCOR Capital Corporation Shareholder
Services NEWS RELEASE
1600 Washington Street, Stoughton, MA 02072 - (781) 341-1348
NASDAQ: ACAP
AMCOR Capital Corporation Retains Cruttenden Roth
as Investment Banker and Financial Advisor
COACHELLA, CA (May 27, 1998) - AMCOR Capital Corporation ("AMCOR" or
the "Company"; ACAP: NASDAQ) announced today that it has retained
Cruttenden Roth Incorporated ("Cruttenden Roth") to render
investment banking and financial advisory services to the Company. The
scope of the engagement calls for Cruttenden Roth to assist AMCOR with
its proposed acquisition and expansion plans.
Last month, after having successfully operated its biomass/recycling
operations since late 1996, AMCOR announced the formation of a new
subsidiary, AMCOR Biomass, Inc. ("AMCOR Biomass"), which will direct all
of AMCOR's biomass/recycling operations. The Company made two
acquisitions during the current fiscal year, which have been contributed
to the new subsidiary. Management believes that the biomass/recycling
industry will undergo a significant consolidation over the next few
years and has identified, and is evaluating, several additional
potential acquisitions, as well as strategic business alliances in the
biomass and related areas.
Cruttenden Roth, established in 1984, is a full-service investment
banking firm, based in Irvine, California, focusing on emerging growth
and middle market companies. With other California offices in Los
Angeles, San Francisco, San Diego, and Santa Barbara, as well as in
Seattle, Washington it has a western regional underwriting presence with
national distribution capabilities.
Mr. Fred H. Behrens, Chairman and CEO of AMCOR, stated, "Cruttenden Roth
is a leading investment bank that has demonstrated exceptional
capabilities in financial advisory and investment banking services for
rapidly growing companies in the western United States. We believe that
this relationship will enable us to attain our growth objectives, and
thereby maximize shareholder value".
AMCOR is currently one of the only Nasdaq traded companies in California
with a biomass/recycling operation (green waste and tree maintenance).
Its other two operating divisions include a fully integrated
agricultural division, and a transitional land planning/development
division.
AMCOR maintains a presence on the Internet at www.amcorcapital.com.
/Further information contact: Barry Goverman, VP - AMCOR Shareholder
Services (781) 341-1348
E-mail:
bgoverman@worldnet.att.net
Fred H. Behrens, Chairman - AMCOR Capital Corporation (760)
398-9520
Overseas Investor Relations, Jacques Genicot (U.S.
Access)+1+760 630 7472
This press release contains forward-looking statements pursuant to the
"Safe Harbor" provisions of the Private Securities Litigation Reform Act
of 1995. (PSLRA -'95). - With the exception of historical information,
the matters discussed in this press release are "forward-looking
statements" that involve a number of risks and uncertainties. The
actual future results of the Company could differ significantly from
those statements due to factors including, but not limited to: risks
associated with managing the Company's growth; the continuation in the
growth of the Company's biomass business, including approvals from the
requisite regulatory authorities and financing availability at
acceptable terms; the continuation in the growth of the California real
estate market; general economic conditions; various conditions specific
to the agribusiness, real estate development, municipal tree trimming
and green waste processing industries; and factors discussed in the
Company's annual report on Form 10-KSB for the fiscal year ended August
31, 1997 and quarterly reports on Form 10-QSB for November 31, 1997 and
February 28, 1998.
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