Tom,
Still in. It will be interesting to see what the new President / CEO, Richard Geist is able to put together for the company.
Hope the press releases will be a big positive.
Eric
Friday June 12, 1:54 pm Eastern Time
Company Press Release
SOURCE: American Track Systems International, Inc.
ATSI Announces Joint Venture with French Manufacturer, Allevard Stedef
ALTOONA, Pa., June 12 /PRNewswire/ -- The Honorable Richard A. Geist, President & CEO of American Track Systems
International, Inc. (ATSI) (OTC Bulletin Board: ATSZ - news) today announced the formation of a major new joint venture
relationship, with the distinguished French rail products manufacturer, Allevard Stedef. The announcement was made this morning
at ATSI's headquarters and manufacturing plant in Altoona, Pennsylvania.
''Today, ATSI announces its joint venture partnership with Allevard Stedef, a major leader in the international arena and a
distinguished manufacturer of the finest quality rail clips in the world. ATSI is the manufacturer of the finest quality Direct Fixation
Fasteners in the world and for the projects that ATSI and Allevard Stedef develop together, Allevard Stedef clips will be the 'rider'
on ATSI's DFF 'horse.' Additionally, Allevard Stedef will support this joint venture with over $2 million in a revolving line of credit for
ATSI and will provide key people to our joint venture team, working internationally and from our headquarters in Altoona,'' remarked
ATSI President and CEO, Rick Geist.
''We have been working closely together for sometime now. ATSI will be making some significant announcements next week and
in the weeks ahead,'' noted John W. Tower, ATSI Vice President for Corporate Development. ''Allevard Stedef is a strong partner
for ATSI, they are a member of the group of subsidiary companies under Unisor, the world's third largest steel producer. They have
a wonderful reputation in the international rail and trackwork industry and have been first rate people to work with. We have a very
positive and productive joint venture at work here.''
American Track Systems International, Inc. (ATSI) is a public company traded on the OTC with a stock symbol of ''ATSZ.''
SOURCE: American Track Systems International, Inc.
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