To: Carl R. who wrote (143 ) 5/12/1999 12:40:00 PM From: Stephanie Read Replies (1) | Respond to of 223
NEWS RELEASE Americlean, Inc. Announces $5 Million Bond Inducement CHARLOTTE, May 12, 1999 – Americlean is pleased to announce the Company has received a bond inducement resolution from Mayor Woodrow Stanley and the City of Flint, Michigan. The inducement and intent to issue revenue bonds is for the development of a new $5 million regional manufacturing and distribution plant, which is expected to create 150 jobs within three years. Americlean, Inc., a leading manufacturer and distributor of dry-cleaning and commercial laundry supplies, as well as a service provider for both North American and international markets, plans to construct a facility which will be located in the St. John Industrial Park in the City of Flint. Mayor Stanley emphasized the importance of this project because it directly meets the administration's goals of creating new employment opportunities for Flint's residents and diversifies Flint's industrial base. “I am very pleased that Americlean, Inc. has chosen Flint as the location for its new plant,” said Stanley. “Americlean is making a major investment here and we are happy to welcome this new industry to Flint.” The proposed project would require construction of approximately 75,000 square feet of light industrial space on an approximate four-acre parcel in St. John Industrial Park. Americlean, Inc. expects to create up to 75 full-time positions within the first year of operations, and up to 150 people within three years at the Flint facility. The Company, which is headquartered in Charlotte, NC, has offices in Florida, North Carolina, Illinois, Indiana and California. “Flint's labor supply, its immediate access to regional and interstate highway systems, reasonable land costs, and the City's cooperative and supportive economic development team, impressed Americlean and its investors which lead to selection of the Flint location,” said Brett Walker, Americlean Vice President and Director. The new Flint facility will allow the company to consolidate some of its smaller facilities into a single, centralized plant, Walker said. 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. As previously announced, Americlean recently acquired Boggs & Co., adding $14 million in annual revenues. Americlean's strategy is focused at consolidating this fragmented industry by supplying its products and services directly to the consumer. Americlean is approved for the Standard & Poor's Corporate Records listing. Americlean Investor Relations Toll Free: 1-800-585-0295 Web Site: www.americlean.net E-Mail: ir@americlean.net Forward-looking statements and comments herein are made pursuant to safe harbor provisions of the Securities Exchange Act of 1934. Such statements relating to, among other things, the prospects for the company to complete proposed transactions and enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature.