AMERICAN INTERNATIONAL INDUSTRIES, INC.
(NasdaqCM: "AMIN")
601 CIEN STREET, SUITE 235, KEMAH, TX 77565-3077
Tel: (281) 334-9479 Fax: (281) 334-9508
www.americanii.com email: amin@americanii.com
FOR IMMEDIATE RELEASE
AMIN ANNOUNCES FORMATION OF NEW SUBSIDIARY -
Downhole Completion products, Inc.
Houston / Kemah, Texas – February 11, 2010 Mr. Daniel Dror, Chairman and CEO of American International Industries, Inc. (NasdaqCM: AMIN), today announced that the Company completed the formation of a new energy products company based in The Woodlands, Texas, USA. Downhole Completion Products, Inc (DCP) plans to deliver a forged synergy specifically designed for the oil and gas industry. We are excited to pursue our global objective to provide major international oil and gas service company end-users with the highest quality proprietary downhole/completion threaded products under any condition. Our new subsidiary plans to successfully implement DCP strategies with the intention of experiencing strong annual market share growth. In locations where premium quality downhole/completion products are demanded, DCP will be offering integrated professional services with our quality products.
Mr. Dror stated, "The Company expects benefits from synergies between DCP and our other energy related subsidiaries, Delta Seaboard Well Service, Inc. and Shumate Energy Technologies, Inc. (SET). Larry Shumate, President of SET, has also been appointed President of DCP. Larry has over 30 years of manufacturing experience, which we believe will be highly valuable in the new energy products subsidiary."
Shumate Energy Technologies, Inc., with AMIN’s support, has worked very diligently to position SET in the current economic downturn to take full advantage of increased drilling upon the projected upturn in the oil and gas market. Larry Shumate stated, "We have been awarded API certificates for advanced quality systems, API Q1, and we are licensed to produce and monogram threaded products to API Spec 7.1 for drill stem and Spec 5CT for casing and tubing specifications. The formation of DCP, Shumate Energy Technologies’ sister company, will focus on providing a proactive approach in providing products and services for not only the drilling phase, but the completion phase as well. DCP will now be able to work directly with SET and Delta Seaboard. The synergies of these companies will increase revenues and profits as demand increases."
http://www.shumateenergytechnologies.com/
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.
Investor Relations: Rebekah Ruthstrom at Tel: 281-334-9479 or email: amin@americanii.com