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American Metal & Technology Books $1.6 Million in Additional Sales, Realizes Continued Success in Europe and New Interests from U.S. Customers
Los Angeles, CA (Bluehost) November 2, 2007 -- American Metal & Technology, Inc. (http://www.ammyusa.com) (Stock Symbol: OTC BB: AMMY (http://finance.yahoo.com/q?s=AMMY.OB)), a leading manufacturer of high precision investment casting, machined parts and electronic circuit boards in the People's Republic of China ("PRC"), announced it has successfully obtained new sales orders for high precision machined products from customers in Europe and the United States for an aggregate value of approximately $1.6 million dollars. Of the $1.6 million, $1.36 million was from three of the Company's previously established customers: a French brewery equipment distributor, a German food and beverage equipment distributor and a European equipment and parts distributor. The balance of $240,000 came from two new clients in the United States.
Chen Gao, President & CEO of American Metal & Technology, Inc., stated, "The recent orders are a testament that our business plan is working. Anytime we get repeat orders of this magnitude we know that we have gained a considerable amount of trust from our customers. Our customers have seen the quality of our work and have confidence in us to continue helping them grow their businesses. The two orders from new customers in the United States are also encouraging. Becoming a public company in the United States has helped us gain the attention of more North American businesses."
American Metal & Technology, Inc. is capable of producing machined parts with dimensional tolerances within +/-0.015", measurement of circular run-out tolerance around 7.6 microns, and up to +/-0.5 of special angle tolerance and Ra1.6 - Ra 3.2 in surface roughness.
To learn more about American Metal & Technology, Inc. (Stock Symbol: OTC BB: AMMY (http://finance.yahoo.com/q?s=AMMY.OB)), please visit the Company's website at: www.ammyusa.com
About American Metal & Technology, Inc. (http://www.ammyusa.com)
American Metal & Technology, Inc., through its wholly owned subsidiary American Metal Technology Group ("AMTG"), a Nevada Corporation, and through AMTG's subsidiaries, Beijing Tong Yuan Heng Feng Technology Co., Ltd. ("BJTY") and American Metal Technology (Lang Fang) Co., Ltd. ("AMLF"), is a leading manufacturer of high precision casting and machined products in the People's Republic of China ("China"). The subsidiaries operate in a 53,819 square foot manufacturing plant with monthly output capacity of 1,000,000 parts. In 2006, AMTG expanded into the design and manufacture of electric circuit boards for home appliances and motion controllers and was able to achieve profitability in its first year of operation by providing controller solutions to top brand appliance manufacturers in China.
Contact:
American Metal & Technology, Inc.
Investor Relations
633 W. 5th Street, Suite 2641
Los Angeles, CA 90071
Tel: 213-223-2339
Email: ir @ ammyusa.com
Safe Harbor Statement
Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
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