AmeraMex International Inc (OTCMKTS: AMMX) stock decreased by 26% last week. This might mean investors will have to avoid selling their shares until they see an increase. However, it might be an excellent time for buyers to purchase the stock as they will get it for a lower price.
On Friday, AMMX stock moved up 1.03% to $0.49 with 5.5K shares, compared to its average volume of 14.26K shares. The stock moved within a range of $0.4600 – 0.4900 after opening trade at $0.48.
AmeraMex is a company that rents, leases, and sells refurbished and new heavy equipment. The company operates in various parts of the world, including the U.S, Canada, Africa, Asia, and Latin America. However, its primary operations are in the U.S, where its headquarters are in Chico, California.
The company first began in 1989. Since then, AmeraMex has been selling products in industries such as forestry, commercial farming, construction, transportation, mining, logging, and shipping logistics. These products include mastication equipment, wheel loaders, forklifts, log loaders, container handlers, and rock trucks, among others.
AmeraMex International Receives Orders Totaling $845,000
The company recently announced receiving orders on equipment worth $845,000. This order would mean that the company would have made sales of about $12.5 million this year.
The orders include a Taylor 920 Loaded container handler shipping from the West Coast, a Hyundai Mini Excavator from a company in Northern California, a Genie Man lift with a one-person basket and a 135-foot extension from the West Coast, and a Taylor Equipment 925 Loaded Container Handler from the West Coast.
AmeraMex International Appoints Brian Hamre to the Position of President
AmeraMex has also appointed a new president. Brian Hamre will step into his new role on July 1, 2022. The company believes that its new appointee would help it build its team while growing its operations and increasing revenues.
Hamre’s experience also makes him an excellent addition to the company as he had previously worked with AmeraMex for 22 years before joining Ritchie Brothers Auctioneers. This means that he knows the company’s structure intimately and would adapt quickly. Moreover, he had been on the company’s board for three years and monitored its growth.
Hamre has proven himself to be an asset for both companies he worked for as he managed to improve productivity and increase growth for the companies. He has also provided mentorship and development to his team.
“Over the past several years the Company has segued from sales of new and used forklifts into the container handling equipment for ports. Now, with growth in infrastructure and commercial construction, we are expanding into heavy construction equipment to balance out our product line. This just happens to be Brian’s area of expertise.”