Americlean Signs Agreement to Add $10 Million in Annual Revenue.CHARLOTTE, N.C.--(BUSINESS WIRE)--May 26, 1999-- Americlean, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:AMCX) is pleased to announce that it has entered into an agreement to acquire L.B.E., Inc. dba A-M A-M Alternating Maximization (algorithm) Supply Company (A-M) of Hammond, Indiana Hammond (IPA: [ˈhæ.mənd]) is a city in Lake County, Indiana, United States. It is part of the Chicago metropolitan area. The population was 83,048 at the 2000 census. . The transaction is scheduled to close on or before July 31, 1999. A-M, incorporated in 1967, is a leading distributor of dry-cleaning and laundry supplies. A-M is headquartered in Hammond, Indiana, and services customers in Illinois, Indiana, Michigan, Ohio, and Wisconsin. A-M sells all of the supply items consumed by cleaners and launderers, and has a solid, established customer base of over 1,000 dry-cleaners, laundries, hospitals, and hotels. A-M's revenues were approximately $10.0 million for fiscal 1998. "We are pleased that the acquisition of A-M implements Americlean's business model in the Midwestern US and secures the continued services of existing senior management," said Andrew Hromyk, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Americlean. The recent $5 million bond inducement from The City Of Flint, Michigan, coupled with the purchase of A-M provides the Company the initial platform of its planned expansion within the Midwestern US. AMERICLEAN INC. (OTC BB:AMCX) services the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. 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 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. 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. Americlean is approved for the Standard & Poor's Corporate Records listing. Forward-looking statements and comments herein are made pursuant to 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. 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. |
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