American International Industries Announces Definitive Asset Purchase Agreement With Shumate Industries
American International Industries, Inc. and Shumate Industries, Inc. announced that they have signed the Asset Purchase Agreement, whereby AMIN has agreed to purchase the assets of Shumate Machine Works Corporation, a subsidiary of SHMT, for approximately $6.7 million in cash. The closing of the proposed transaction is scheduled for October 1, 2008, subject to certain closing conditions.
Source: TMC Net