BARTOW, FL -- (Marketwire) -- 12/10/08 -- 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