International American Technologies' Wholly Owned Subsidiary, Hammonds Technical Services, Inc. Announces New Omni Directional Vehicle (ODV(TM)) Orders
KEMAH, Texas--Aug. 17, 2006--International American Technologies, Inc. (OTCBB:IMTG)Mr. Gary Woerz, Chief Executive Officer of IMTG, announced that Mr. Carl Hammonds has joined the Board of Directors and was appointed by the Board as President of International American Technologies, Inc. (the "Company"), a subsidiary of American International Industries, Inc. (OTCBB:AMIN).
Mr. Carl Hammonds, President of the Company and it's wholly owned subsidiary, Hammonds Technical Services, Inc. ("Hammonds"), announced the receipt of a blanket purchase order from Mark C. Pope Associates, Inc. of Smyrna Georgia, ("MCP") covering various models of the Hammonds Omni Directional Vehicle ("ODV(TM)"). The ODV(TM) is manufactured by the equipment manufacturing division of Hammonds at their plant in Houston, Texas. MCP took delivery of their first ODV(TM) in May of 2006 at the annual AS3 convention, which premiers ground support equipment for the aviation industry. Since that time, MCP has received their second unit and has been encouraged by the response gained as they demonstrated the equipment to various aviation and industrial users. Originally, MCP committed to represent Hammonds as an Aviation Equipment Distributor; however, following industry response and their experience with the vehicle, they have elected to add the Snow Management and Industrial classifications to their distributorship agreement in five states. These additional classifications will license MCP to sell ODV(TM) Snow Plows, Road Sweepers, People Movers, Police patrol vehicles and Security Command Stations, all covered under multiple U.S. and foreign patents by Hammonds. MCP's blanket order includes 45 tow tractors, 5 snow plows, 2 Command Stations, and multiple attachments that compliment ODV(TM) tractors and represents a net value in excess of $2,100,000. Hammonds and MCP projects these orders will be sufficient to supply their market demands through the end of the first quarter of 2007 and represents minimum annual performance for all three distributor classifications. Production of the order will commence in time to premier equipment at trade shows early in the 4th quarter of 2006.
Hammonds will make several major announcements regarding new models and representation at the upcoming National Business Aviation Convention held in Orlando in October. "The Mark C. Pope Company represents the very best in aviation and industrial suppliers. We at Hammonds believe our partnership with them will pave the way for major changes in the way aviation and industrial equipment is handled", said Mr. Hammonds.
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The matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, that involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects" and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those that we may anticipate in each of our segments reflected by our subsidiaries' operations include without limitations, continued acceptance of the Company's products and services, increased levels of competition, new products and technology changes, the dependence upon financing, third party suppliers and intellectual property rights, the rules of regulatory authorities and risks associated with any acquisitions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or expectation only as of the date hereof.