HOUSTON and KEMAH, Texas, Nov. 16, 2009 (GLOBE NEWSWIRE) -- Mr. Daniel Dror, Chairman and CEO of American International Industries, Inc. (Nasdaq:AMIN), announced that AMIN has signed a Letter of Intent with Centriforce Technology Corp., a technology company that has developed a revolutionary water desalination system. This new desalination system can save 50% to 75% of the cost to desalinate seawater when compared to current technologies installed globally. This announcement follows the press release from Nov. 6, 2009 in which AMIN stated its "Plans to Expand into (the) Water Purification and Desalination Business."
"AMIN has analyzed global infrastructure necessities and identified the potable water industry as a top priority and necessity for the coming decades," stated Daniel Dror, Chairman and CEO. He added that "AMIN sees its investment in the water industry as a strategic action that will provide great potential for growth, humanitarian solutions and profitability."
AMIN views this developing relationship as a timely opportunity to launch its worldwide market presence to the top tier, becoming a leader in the water industry.
AMIN is also conducting negotiations to enter into a definitive agreement to acquire part or all of a company that has successfully designed, produced and installed high tech, Reverse Osmosis (RO) plants for over 20 year. This company's RO designs have been utilized for a variety of potable water applications including desalination, drinking water, waste water and medical water purification.
AMIN sees the strategic importance of developing top quality technologies to solve the potable water scarcity problems that will develop in the coming years. AMIN is determined to become a driving force in the water purification industry.
The LOI with Centriforce Technology Corp. is non-binding.
American International Industries, Inc. is a diversified holding company, with a business model similar to General Electric, Tyco International, and Berkshire Hathaway. The Company has holdings in Industry, Finance, and Real Estate in Houston Texas and surrounding areas, and Oil & Gas. The vision of the Company is to develop holdings in various industries through acquisition of existing companies, applying the financial resources and management expertise to foster the growth and profitability of the acquired businesses. The holding company serves as a financial and professional partner to the management of the subsidiaries. The role of the holding company is to improve each subsidiary's access to capital, achieve economies of scale by consolidating administrative functions, and utilize the financial and management expertise of corporate personnel across all units. The Company is continuing to work with management of the subsidiary companies to improve revenues, operations and profitability.
Private Securities Litigation Reform Act Safe Harbor Statement: 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 value of our real estate portfolio, the strength of the real estate market in Houston, Texas as a whole, 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 potential 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.