Message #13 From:
Stock News Bot Date: July 17, 2005 12:10:45 AM
AACS News Research American Commerce Solutions Inc,Stock Trading Message Board
American Commerce Solutions, Inc. to Eliminate Balance Sheet Debt
BARTOW, Fla., June 22 /PRNewswire-FirstCall/ -- American Commerce Solutions, Inc. (OTC Bulletin Board:AACS) today announced an agreement that will enhance the corporate balance sheet by eliminating as much as $900,000 of debt.
Daniel L. Hefner, President and Chief Executive Officer stated, "Our Board has never deviated from the stated business strategy of managing to the balance sheet. Progress can be measured in numerous ways, but one of the most significant to the shareholder is a strong balance sheet. In an aggressive move, the Board of Directors of AACS has negotiated to convert up to $900,000 of debt to equity between the first and second quarters. We are excited to be able to announce this step forward and expect the move to be well received by both shareholders and the investing public."
American Commerce Solutions, Inc. is a holding company for wholly owned subsidiaries International Machine and Welding, Inc. and Chariot Manufacturing Company, Inc. ACS has also announced a Strategic Partnership to American Fiber Green Products, Inc., with a patented process for fiber glass recycling.
American Commerce Solutions, Inc. Subsidiary IMW Progresses on Nuclear Project
BARTOW, Fla., June 20 /PRNewswire-FirstCall/ -- American Commerce Solutions, Inc.'s (OTC Bulletin Board:AACS) wholly owned subsidiary, International Machine and Welding, Inc., today issued an update for its nuclear power industry contract, awarded last month.
ACS President and Chief Executive Officer Daniel L. Hefner reported in May that IMW had once again been awarded a contract to machine components used in the nuclear power industry. Upon the completion of this job, this industry segment will have provided IMW with purchase orders in excess of $250,000. It was noted that IMW was awarded these opportunities because of their excellent and timely performance last year for the same client.
Hefner commented, "IMW was awarded these contracts as a subcontract from Dixie-Southern Constructors, Inc. of Durette, Florida, the primary contractor for a Florida utility. The current application is construction of a shipping container for a spent nuclear reactor. The first portion of this job has been completed and the remainder is in progress. This industry segment is providing lucrative opportunities for IMW. Growth opportunities in this area are excellent, based upon our past successful and timely performance, according to Dixie-Southern President Gary Claville.
According to Hefner, expectations are high for IMW in this second quarter of operations. IMW has continued to show steady growth quarter after quarter as reflected in last fiscal year's thirty-plus per cent increase in revenue, followed by a four per cent increase in the first quarter over the same periods in the prior year.
Details of the International Machine and Welding, Inc. subsidiary may be seen at the corporate website http://www.aacssymbol.com .
Chariot Manufacturing Company, Inc., http://www.chariot-trailer.com , is also a wholly owned subsidiary of American Commerce Solutions, Inc.
American Fiber Green Products, Inc., http://www.americanfibergreenproducts.com , is a Strategic Partner of American Commerce Solutions, Inc.
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.
American Commerce Solutions, Inc.
Web site: http://www.aacssymbol.com/
http://www.chariot-trailer.com/
http://www.americanfibergreenproducts.com/
