American Metal &Technology, Inc. (OTC Bulletin Board: AMGY) ("American Metal," the"Company"), a leading manufacturer in the People's Republic of Chinaengaged in the development, manufacture and sale of high-precision metalcasting and metal fabrication products to European and U.S. markets andmicroprocessor-controlled electronic circuit boards in China, todayannounced it purchased an additional four CNC lathe machines during thefirst quarter ended March 31, 2008, bringing the total number of lathes to60.
All of the high-precision lathe machines are equal in size and capacity
to the Company's existing 56 machines. Three of the machines were put intoproduction during the first quarter, and the fourth is expected to be
delivered and installed in April.
"We continue to make great strides in our major expansion plan, and we
are excited by the growth in demand we see from our U.S. and European
customers," said Mr. Chen Gao, Chairman and Chief Executive Officer of
American Metal. "We see this as a year of great opportunity, and yet also
one in which we are preparing for the future, as we grow to meet today's
demand and move toward expansion into additional production facilities in
2009."
To capitalize on the fast-developing metal casting market in China, the
Company is in the midst of the second step in a four-phase capacity
expansion plan. Phase two will add two manufacturing facilities totaling
117,000 square feet. It is intended to increase the Company's annual
capacity for casting products by 50% and should be completed by the end of2008 and begin production in early 2009.
About American Metal & Technology, Inc.
American Metal & Technology, through its wholly-owned subsidiary
American Metal Technology Group ("AMTG"), a Nevada Corporation, and throughAMTG's subsidiaries, Beijing Tong Yuan Heng Feng Technology Co., Ltd. andAmerican Metal Technology (Lang Fang) Co., Ltd., is a leading manufacturerof high-precision casting and machined products in the People's Republic ofChina. The subsidiaries operate in a 53,819-square-foot manufacturing plantwith monthly output capacity of 1 million parts. In 2006, AMTG expandedinto the design and manufacture of electric circuit boards for homeappliances and motion controllers. The Company recently announced facilityexpansion plans to increase casting product capacity by 50% and enhance thedevelopment and manufacturing of its circuit board solutions at itsLangfang manufacturing center. To learn more about American Metal &Technology, Inc., please visit the Company's website at:http://www.ammyusa.com.
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995: Certain of the statements made in this press release
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
involve known and unknown risks, uncertainties and other unknown factors
that could cause our actual results to be materially different from the
historical results or from any future results expressed or implied by such
forward-looking statements. In addition to statements that explicitly
describe such risks and uncertainties, readers are urged to consider
statements labeled with the terms "believes," "belief," "intends,"
"anticipates" or "plans" to be uncertain and forward-looking. The
forward-looking statements contained herein are also subject generally to
other risks and uncertainties that are described from time to time in our
reports filed with the Securities and Exchange Commission.
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