NEWS RELEASE
Date: March 3, 1999
Subject: Americlean Closes Acquisition And Adds $14 Million In Annual Revenue
Charlotte, NC. Americlean, Inc. (OTCBB: AMCX) - Andrew Hromyk, Chairman and CEO of Americlean, is pleased to announce the closing of the acquisition of Boggs & Company.
Boggs & Company is a leading distributor of dry-cleaning and laundry, supplies and equipment headquartered in Charlotte, North Carolina, with branches in Jacksonville and St. Petersburg, Florida. Boggs & Company has a solid, established customer base of over 2,000 dry-cleaners, laundries, hospitals, nursing homes, and hotels. Revenues for the 1998 fiscal year were $14 million. Boggs supplies the products consumed in the day to day operations of dry-cleaners and commercial laundries and designs, installs and services dry-cleaning and laundry plants.
The addition of Americlean's hazardous waste recycling services and products to Boggs' customer base will further diversify Boggs' existing revenue streams and reduce operating and distribution costs.
Americlean is pleased to have secured the continued services of existing, senior management, who will continue to oversee the company's day to day operations as a wholly owned operating subsidiary of Americlean.
The purchase of Boggs provides Americlean with a significant presence in the Southeastern US, one of the three largest markets in the $7 Billion North American dry-cleaning industry.
AMERICLEAN INC. (OTCBB : AMCX) services the North American dry-cleaning industry, a seven billion dollar annual market which has consistently grown an average rate of 10% each year. The Company has combined the manufacture and supply of dry-cleaning products with hazardous waste services utilizing its proprietary recycling technology. Americlean's strategy is focused at consolidating this fragmented industry by supplying its products and services directly to the consumer.
Investor Relations: Phil Huss 970-259-7241
Phoenix Alliance Inc.
E-mail: phoenixalliance@frontier.net
Americlean Inc.: 800-585-0295
Web Site: www.americlean.net |
