Affordable Homes of America, Inc. Announces a Letter of Intent To Merge/Acquire or Joint Venture With Tristar USA of LA Inc.
LAS VEGAS, Apr 14, 2000 /PRNewswire via COMTEX/ -- Affordable Homes of America,
Inc. (OTC Bulletin Board: AHOA) ("Affordable Homes") has signed an agreement
with the President of the Tristar USA of La. Inc., a national and international
construction company. Tristar has existing construction contracts, both domestic
and abroad, and is presently negotiating construction contracts for moderate-
and low-cost housing in several countries. The dollar amount of these contracts
will be in excess of $250 Million. Tristar has also agreed to assist Affordable
Homes with the construction of the World Home for display on the campuses of two
universities in Louisiana.
President and CEO Merle Ferguson states, "A merger or joint venture with Tristar
would be an ideal marriage for Affordable Homes. Tristar has agreed to use our Z
MIX product whenever possible throughout the global market. They have excellent
ideas for additional uses of Z MIX that can be explored through the Engineering
Departments of the two universities. We believe that working with these
universities will allow us to expedite our U.S. certification of Z MIX materials
for housing, railroad ties, and telephone poles. We are looking forward to a
long and prosperous relationship with Tristar, either as a joint venture partner
or as a wholly-owned subsidiary."
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1955: Certain information contained in this release contains forward-looking
statements that involve risks and uncertainties, including but not limited to,
those relating to development and expansion activities, dependence on existing
management, financing activities, domestic and global economic conditions, and
market competition.
SOURCE Affordable Homes of America, Inc.
(C) 2000 PR Newswire. All rights reserved.
http://www.prnewswire.com
CONTACT: Gary Smolen, Investor Relations, Global Financial Resources,
Inc., 877-822-8274, for Affordable Homes of America, Inc.
(AHOA) |
