AmeraMex International (OTCQB:AMMX) Inc, a provider of heavy equipment to logistics companies, construction firms, and US military installations, revealed that it has received a five-year rental agreement from the US military for $7.1 million.
In a statement, AmeraMex founder CEO Lee Hamre said: "We have been providing rental equipment to the US military for several years. From a budget perspective, it is easier and faster for the department we work with to rent instead of purchase equipment.”
“We like rental agreements as they generate steady cash flow and, after an agreement expires, we refurbish the equipment, if necessary, and sell back into the open market," he added.
READ: AmeraMex is recession-proof with its strong order book and robust heavy equipment sales
California-based AmeraMex, which leases and sells new and refurbished heavy equipment, said the five-year agreement is for six new Taylor Reach Stackers.
This specific military base will use the reach stackers to off-load incoming containers of equipment and supplies from trucks and rail, said the company.
To book a demo of the company’s new product line — First Green Company's Electric's skid steer loaders, Menzi Muck Excavators, or a Magni Telescopic Handler, companies can contact the AmeraMex/Hamre Equipment sales team.
AmeraMex has over 30 years of experience in heavy equipment sales and service. The company also buys used equipment and ships it to its refurbishing facility in Northern California, which renovates millions of dollars worth of used equipment and resells it to customers in the US and internationally.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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