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Monday July 20, 12:01 pm Eastern Time
Company Press Release
American International Industries, Inc. Acquires Acqueren Inc. and its Wholly Owned Subsidiary Northeastern Plastics Inc.
KEMAH, Texas--(BUSINESS WIRE)--July 20, 1998--American International Industries Inc. (formerly, Energy Drilling Industries Inc.) (OTCBB:EDII - news) announced Monday it acquired Acqueren Inc. and its wholly owned subsidiary Northeastern Plastics Inc. (''NPI'').
Founded in 1994, Acqueren Inc. is a holding company with substantial liquidity (in excess of $2,000,000) and owns 100% of its subsidiary, NPI. NPI was founded in the early 1960s and since then has been engaged in supplying numerous automotive and electrical products to retailers, wholesalers and the automotive after market. The product lines have been expanded, and NPI today offers a complete assortment of UL and CSA listed products, cord sets, portable lighting devices, night lights and similar wiring devices, multiple outlet and surge protection devices, rubber and PVC booster cables and battery accessories. Sales for the next twelve months are projected to be approximately $10,000,000 and profitable.
On July 9, 1998 EDII declared a 10% stock dividend payable to shareholders of record Aug. 30, 1998.
EDII has five divisions: industrial, financial, oil and gas, real estate and media communications/entertainment. EDII, with its liquidity, assists its subsidiaries to build vertically each division in its own field.
This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes, the company's dependence on financing, third-party suppliers and intellectual property rights, and other risks detailed from time to time in the company's federal filings, annual reports, offering memorandum or prospectus.
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More Quotes and News: Energy Drilling Industries Inc (OTC BB:EDII - news)
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