AmeriChip International, Inc. (OTCBB: ACII) announced that they have received their first Laser Assisted Chip Control production order from Eaton Corporation. Eaton is a diversified manufacturing company that conducts operations worldwide and has produced over $13 billion in annual revenue.
“Kenneth W. Mann, CEO of AmeriChip, said, “AmeriChip secured the Eaton order because we are the only Tier One supplier* able to offer Laser Assisted Chip Control technology. Based on LACC technology, AmeriChip is the lowest cost supplier. This new Eaton order validates AmeriChip’s unique, patented, proprietary Laser Assisted Chip Control (LACC) technology. Our LACC technology has the potential of reducing costs in the turning manufacturing industry worldwide.”
After the pre-production approval process of 10 gears, the company will begin on the full process, which is expected to be completed by July 31, 2008 with 3,000 parts. After the first ten gears are run through the approval process, AmeriChip will be asked to produce additional batches of 300 gears each until the whole process is completed. AmeriChip will be shipping manufactured parts to three Eaton truck component plants. Following the pre-production approval process, AmeriChip expects to receive additional and ongoing Eaton purchase orders for this particular gear.
“We are currently in advanced discussions and negotiations with a number of our other blue chip clients for LACC technology implementation across a number of products. “When successfully implemented, this specific gear order will be billed at up to $1.2 million. We expect this gear production order to generate consistent, recurring top line revenue because we are essentially becoming a strategic manufacturing partner with Eaton,” concluded Mr. Mann.
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