Rochester, NY 8/17/2009 2:16:00 PM
American International Industries Inc., AMIN - American International Industries Inc. Recently Completes the Acquisition of Assets of Shumate Machine Works
American International Industries Inc.,
American International Industries Inc. recently announced that of the Company recently completed 100% purchase of assets of Shumate Machine Works Corporation, this is a subsidiary of Shumate Industries, Inc.
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The acquisition is said to reach approximately $6.4 million in cash, and was financed in large part through long-term debt provided by Stillwater National Bank and Trust. Theses assets were now owned by a wholly owned AMIN subsidiary, Shumate Energy Technologies, Inc.
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