American Commerce Solutions, Inc. Reveals Acquisition Details
December 10 2008 - 8:49AM
Marketwired
American Commerce Solutions, Inc. (OTCBB: AACS) today revealed more
details about current acquisition negotiations.
President and Chief Executive Officer, Daniel L. Hefner, today
stated, "Acquisition negotiations are ongoing and active with three
companies currently. If successful in acquiring all three of these
operations, the new companies are expected to provide substantial
manufacturing contracts and accompanying funding. Specifics about
the ongoing negotiations will remain confidential until a
reportable event is recorded, but certain details may be made
known."
Hefner continued, "Two of the companies are in the same general
fields of current operations. One is a construction equipment
service provider to both commercial and residential contractors.
The other is a machine shop that specializes in down hole parts for
the gas and oil industries. The customers serviced are companies
such as Haliburton and Williams to name a few. The third company
being considered is intended to create a new division and revenue
stream. At the same time, it will provide much needed service to
our existing operating entities. This company is an Internet
Technology (IT) consulting company headquartered in Tampa, Florida.
The current revenue of the three companies exceeds $3.5M and all
are profitable. Our plan is to increase shareholder value through
internal growth, acquisition and strategic partnerships. We remain
confident that we will successfully complete the current
negotiations, as well as continue to expand the relationship with
American Fiber Green Products, Inc. Our current operating
subsidiaries, International Machine and Chariot Manufacturing
Company continue to provide a substantial foundation for
growth."
Hefner set no expectations for share price, instead stating that
he expected to have a positive investor response to as exposure and
awareness grow.
American Commerce Solutions, Inc. is a multi-industry holding
company. ACS currently has wholly owned subsidiaries International
Machine and Welding, Inc. and Chariot Manufacturing Company which
includes Chariot Trailers and the AFG job shop. The ACS website,
www.aacssymbol.com highlights the IMW operation and links to the
Chariot website, www.chariot-trailer.com.
American Commerce Solutions, Inc. is also a Strategic Partner to
American Fiber Green Products, Inc.,
www.americanfibergreenproducts.com, AFGP has a patented process for
recycling fiberglass for which there is a worldwide, pent up
demand.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained in this release that
are not historical, are forward-looking statements that are subject
to risks and uncertainties that could cause results to differ
materially from those expressed in the forward-looking statements,
including but not limited to, certain delays and risks detailed
from time to time in the company's filings with the Securities and
Exchange Commission.
Contact: American Commerce Solutions, Inc., Bartow Daniel Hefner
813-244-9843 dhefner@aacssymbol.com
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