COSTA MESA, Calif., June 19, 2002 (PRIMEZONE) -- E. G. Marchi of Resource Asset Management Corporation (OTCBB:RAMG) today announced the start of its operation of a pallet mill as part of its strategic alliance with AmeraMex International Inc. (Pink Sheets:AMMX). The mill is located at the Ojos Negros mill site close to the source of timber and lumber produced by AmeraMex and is centrally located to large agricultural and industrial users.
According to RPM Technologies, a leader in the pallet industry, the world pallet market is approximately $9 billion a year (80% or more than $7 billion of which is wood); and according to the American Pallet and Manufacturing Association, the annual growth rate of pallet demand in Mexico is 12% per year.
Mr. Marchi, Vice President of RAMG, stated: "This mill would be capable of producing over 2,000 pallets a day once completed. It is RAMG's intent at this time to service only the Mexican agricultural and industrial markets that require one-way heavy-duty wood pallets for use in exporting most of their production."
Resource Asset Management Corporation engages in acquiring and providing equipment and facilities to a number of its Strategic Alliance Venture's natural resource development and related activities in Baja California, Mexico.
This news release contains forward-looking information 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, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of company products and related technologies, competitive market conditions, the ability to secure additional sources of financing, the ability to maintain operating expenses at current levels, and other factors described in the Company's filings with the Securities and Exchange Commission. Consequently, the actual results the Company achieves may differ materially from those expressed or implied by any forward-looking statements due to such risks.