North American Technologies Group, Inc. Announces the Company's First Quarterly Profit
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North American Technologies Group, Inc. Announces the Company's First
Quarterly Profit
IRVING, Texas, May 20 /PRNewswire-FirstCall/ -- North American
Technologies Group, Inc. (OTC Bulletin Board: NAMC), world leader in
engineered composite railroad ties, today announced the Company's first
quarterly profit. The profit of $173,481 resulted from $9 million of revenue
for the quarter (a 72% increase over the same quarter of last year).
Mr. Rod Wallace, the company's President and Chief Executive Officer,
said, "The profit reported for the quarter represents an historic event for
this company. This is the first profit in the company's existence and is the
beginning of a phase -- from start-up to an operating company. It is almost
impossible to thank all of the people who helped make this successful quarter
possible, because the results truly represent a team effort. Certainly our
dedicated employees, directors and advisors have played a huge part in this
success. We also thank our customers for believing in our product and
providing input for constant improvement in and to our product. We also wish
to thank our lenders and investors for supporting us through some very trying
times. Our challenge now is to continue to improve our production, and
customer base."
About NAMC
North American Technologies Group, Inc. through its wholly owned
subsidiary TieTek(TM) produces high-performance railroad ties and other
engineered products. TieTek uses its patented technology to process recycled
plastic, automobile tires and mineral additives to manufacture engineered
composite products that last longer and perform better than hardwood and/or
concrete alternatives in structural applications. The Company's securities
are quoted in the over-the-counter market under the symbol "NAMC". The
Company's website is found at http://www.tietek.com. For a description of the
financial results for the Company's Current Report see Form 10-QSB filed with
the Securities and Exchange Commission on May 19, 2008.
This press release contains forward-looking statements involving risks and
uncertainties. Statements in this press release that are not historical,
including statements regarding management intentions, beliefs, expectations,
representations, plans or predictions of the future are forward-looking
statements within the meaning of the "safe-harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These risks include, but are not
limited to, fluctuations in financial results, availability and customer
acceptance of products and services, the impact of competitive products,
services and pricing.
SOURCE North American Technologies Group, Inc.
Shauna Morris of North American Technologies Group, Inc., +1-972-819-3676
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