yes.
Globe Newswire
April 01, 2010: 07:00 AM ET
HOUSTON and KEMAH, Texas, April 1, 2010 (GLOBE NEWSWIRE) -- Mr. Daniel Dror, Chairman and CEO of American International Industries, Inc. (Nasdaq:AMIN), today announced the completion of the sale of 8 acres of land located on Airport Boulevard in Houston, Texas by its wholly-owned subsidiary, Nestle Products Corporation (Nestle), for $450,000 cash. Mr. Dror further announced that a contract has been entered into by and between Nestle and Continental Connections USA, LLC to sell the additional 34 acres on Airport Boulevard for $1,550,000 cash. The total of 42 acres owned by Nestle and another 36 acre property on Interstate 59 in Houston, Texas are carried on AMIN's books at a $3.2 million cost to the company, which is net of a note payable to the bank.
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.
Market Data 
Markets 
AI
