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AmeraMex International and Marchetti Construction Meeting With ETHPE, the Second Largest Construction Company in Algeria

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  Published in Business and Finance on Friday, November 20th 2009 at 7:08 GMT by Market Wire
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CHICO, CA--(Marketwire - November 20, 2009) - AmeraMex International, Inc. (PINKSHEETS: [ AMMX ]), a provider of heavy equipment to infrastructure construction, stevedoring and commercial construction, today announced that it has reached an agreement in principle with San Francisco-based Marchetti Construction, Inc. to form a new Algerian company with ETHPE, the second largest construction company in Algeria. Sixty percent of the new company (NewCo) will be owned by ETHPE, 30 percent by Marchetti Construction and 10 percent by AmeraMex. AmeraMex President and CEO Lee Hamre and Marchetti Construction President Joseph Marchetti will be meeting with Abdelbaki Talbi, Vice President of ETHPE Construction, the second week of January, at which time the agreement is expected to be finalized.

"There are currently two projects approved for funding by the Algerian Government," said Hamre. "The first project, a five-star hotel with a convention center to be built in Algiers, is expected to break ground in the spring of 2010. The approximate value of the project is $60 million. The second project, another five-star hotel and convention center, will be built in Boughazoul, Algeria. We expect to break ground on this project beginning 2011. In addition to our 10 percent ownership in NewCo, AmeraMex will be providing all heavy equipment for NewCo's projects," added Hamre.

NewCo will have strong relationships and expertise in all phases of commercial and infrastructure construction, which will allow the company to bid on a wide variety of complex projects, including new bridges and highways, sewage treatment facilities, office buildings, and hotels throughout Algeria and other North African countries.

After 10 years of political instability and economic stagnation in Algeria, many large-scale development projects are now underway and will begin to bring the country into the 21st century and give it a new and modern face. Approximately 10 percent of the population is employed in the construction and public works sector, which has become a significant motor for economic growth, accounting for eight percent of GDP. About 70 percent of the $145bn 2005-09 Programme for the Support of Economic Growth is allocated for housing and infrastructure. Although the construction sector is almost exclusively led by public investments, it seems likely that this will change with time. The liberalization of the Algerian market will certainly help the construction sector, as will the arrival of foreign companies.

About Marchetti Construction

Marchetti Construction is a general contractor active in new construction and specializes in renovation projects with emphasis on negotiated fast-track commercial work. Offerings range from feasibility studies, conceptual estimating and contract management to quality and cost controls. The company is known for its work with large hotel chains including the Hilton and Marriott. Well-known projects include the Westin St. Francis Hotel in San Francisco, the Claremont Hotel in Berkeley, and the remodel in New York of the world famous Plaza hotel.

About AmeraMex International

AmeraMex International sells, leases, and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping, mining and logging. AmeraMex's largest product line is specialized container handling equipment that enables stevedoring companies to quickly and efficiently load and offload container and general freight ships dockside. AmeraMex, with customers in North America, South America, Asia, and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, [ www.AMMX.net ].

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.