Americlean's Acquisition Creates Canada's Largest Dry-cleaning Service Provider.NEW YORK--(BUSINESS WIRE)--July 17, 1998--AMERICLEAN INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMCX) the company is pleased to announce today that it has signed a Letter of Intent to acquire 100% of Recyclex Corporation (USA), thus making Americlean Inc. the largest dry-cleaning service provider in Canada. Recyclex reported revenues in excess of $1,500,000 for the year ended 1997. With this acquisition, Americlean anticipates increasing revenues of the Recyclex division to $5,000,000 during the next twelve months of operations. With a current customer base of nearly two thousand customers, the acquisition of this fully licensed, hazardous waste Hazardous waste Any solid, liquid, or gaseous waste materials that, if improperly managed or disposed of, may pose substantial hazards to human health and the environment. Every industrial country in the world has had problems with managing hazardous wastes. processor provides Americlean with immediate and direct access to sell its products to more than 70% of the Canadian dry-cleaning market. Sales of Americlean's product line, which includes hangers, detergents, and chemicals, will significantly increase the existing service based revenue of both Recyclex and Americlean. Product sales, which represent up to 80% of Americlean's current revenue stream, have yet to be introduced to the customer base of Recyclex. The corresponding expansion in processing capacity will further enhance the profitability of Americlean by providing significant economies of scale. Recyclex, a Delaware based hazardous waste processor with operations throughout Ontario and Quebec, is the dominant hazardous waste service provider to the $700 Million Eastern Canadian dry-cleaning market. The management of Recyclex has greater than twenty-five years of experience within the hazardous waste industry and will play an instrumental role in Americlean's future growth. Additionally, the acquisition accelerates Americlean's market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" into the State of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , the largest dry-cleaning market in the U.S. valued at $450Million annually, through an existing joint venture between Recyclex and a major New York service provider. Americlean will begin selling products within New York State by the fourth quarter of fiscal 1998. Further, the Company anticipates that it will have in excess of three thousand customers by the end of fiscal 1998. AMERICLEAN INC. is an environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, and supply company specializing in hazardous waste recycling for the dry-cleaning industry. This is a six billion-dollar industry in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , growing at a rate of 10% per year. The Company's proprietary technologies combined with the distribution of dry-cleaning supplies through its "Big Box" sales centers will position AMERICLEAN for aggressive growth. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the Company's domestic and international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , imprecision in estimating product reserves and the Company's ability to replace and expand its holdings. CONTACT: Investor Relations Investor relations The process by which the corporation communicates with its investors. : Strategic Marketing Consultants 888-326-9344 Web Site: www. Americlean.net |
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