American Commerce Solutions, Inc. Reaches Agreement in Principle for the Acquisition of a Revenue Generating Company
November 24 2008 - 6:00AM
Marketwired
American Commerce Solutions, Inc. (OTCBB: AACS) today announced
that the Company's progress in negotiations for the purchase of a
cash flow positive firm has culminated in an agreement in principle
by both organizations.
On October 10, 2008, AACS announced plans for a new division
through acquisition by stating, "The acquisition currently being
negotiated brings revenue, improved cash flow, profitability and
explosive growth potential."
Daniel L. Hefner, Chief Executive Officer, today stated, "As
previously announced, I have been in negotiations to acquire an
existing company to form the beginning of a new division for AACS.
Considerable progress has been made which has lead to an agreement
in principle. Hence, we continue to work towards a binding letter
of intent and definitive agreement over the coming days."
According to Mr. Hefner, "American Commerce Solutions, Inc.
seeks to take advantage of today's turbulent economic conditions
which have presented several potentially lucrative business
opportunities. These opportunities offer the ability to diversify
the revenue streams from its two subsidiaries, making the most of
AACS's own flexibility and innovation while enhancing the bottom
line."
The acquisition of this company will cost-effectively create a
new division and generate a whole new revenue stream. "By acquiring
this organization, AACS can build on the balance sheet and increase
revenues and profits," stated Mr. Hefner. "The new company already
has a solid monthly sales base; is already profitable; and comes
with strong management to be paid from its current revenues. This
experienced management will bring needed expertise to AACS's
current operations and is a tremendous complement to our current
management team. This is an exciting step forward and I expect the
synergies between the two operations to shift our business into a
higher gear."
American Commerce Solutions, Inc. maintains a Strategic
Partnership with American Fiber Green Products, Inc.,
www.americanfibergreenproducts.com (OTCBB: AFBG).
About American Commerce Solutions, Inc (OTCBB: AACS):
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. The
ACS website, www.aacssymbol.com highlights the IMW operation and
links to the Chariot website, www.chariot-trailer.com
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 Daniel L. Hefner 813-244-9843
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