Hmmmmmmmmmmmmmmmmm..!?!
Affordable Homes of America, Inc. Forms Joint Venture With Tristar USA of LA, Inc.
LAS VEGAS, Jun 22, 2000 /PRNewswire via COMTEX/ -- Affordable Homes of America,
Inc. (OTC Bulletin Board: AHOA), announced today that it has signed a five-year
joint venture agreement with Tristar USA of LA, Inc., a minority owned company
headquartered in Louisiana with offices in Nigeria.
Under terms of the joint venture agreement, Tristar will act as the construction
company and Affordable Homes will supply its proprietary Z MIX material for
building affordable housing in Developing Nations. Tristar, which has existing
multi-million dollar contracts for building concrete homes, will utilize
Affordable Home's Z MIX material in place of concrete. "This is the first step
in the new direction of our Company and positions us for significant revenue
growth and profitability," stated Merle Ferguson, President and Chief Executive
Officer of Affordable Homes of America. "The total of Tristar's existing
contracts, as well as those presently being negotiated, will be in excess of
$250 million, with funding provided by major oil companies or the World Bank
with governmental guarantees. Tristar has also agreed to jointly pursue
contracts or licensing agreements for railroad ties, telephone poles and waste
remuneration. We anticipate a long and profitable relationship with Tristar."
Affordable Homes of America, Inc. is developing and commercializing Z MIX, a
proprietary, patent protected, cementitious product that combines bentonite,
diatomaceous earth and shredded tires to create a lightweight, high quality
building material that significantly reduces the time and cost of constructing a
house.
John :-) |
