Another very good news !!
Ammonia Hold, Inc. Announces Expansion Plans
LITTLE ROCK, Ark., Aug 3---- Ammonia Hold Inc. announced today plans to expand the Lonoke, Arkansas packaging and distribution facility effectively doubling its size to 30,000 square feet from 15,000 square feet. Construction is expected to begin immediately.
Michael D. Parnell President and Chief Executive Officer, stated "This expansion is a direct result of the increased consumer demand and retail distribution of our products. During the last eighteen months, the Company has grown from 12,000 square feet of manufacturing and distribution space to approximately 100,000 square feet. In that same period, the number of employees has grown from six to approximately forty. During this growth phase, Ammonia Hold Inc. has continued to maintain a healthy balance sheet with cash and marketable securities in excess of 52.1 million and no long-term debt. Based on internal forecast, revenues should exceed $4.0 million for the year ended June 30. 1999. This would represent an approximate 300% increase from year ended June 30, 1998 revenues which are expected to be released August 31."
Ammonia Hold Inc. manufactures and distributes patented products to reduce odor and ammonia emissions from animal waste, landfills and municipal biosolids.
The statements made in this release constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rate trends, continued acceptance of the Company's products in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For More Information Contact:
Ed Schuchardt with Investors Relations at:
800-513-9694
OR
Michael D. Parnell
Ammonia Hold, Inc.
Post Office Box 25403 Little Rock, AR 72211
Tel: 501-676-2994
Internet: ammoniahold.com |
