November 24, 2009 (FinancialWire) — Centriforce Technology Corp. (OTC: CNFO) and American International Industries, Inc. (NASDAQ: AMIN) are following through on the LOI signed on Nov. 2, 2009, and are discussing the development of a joint venture  through a new entity to operate in the water desalination industry.

The purpose of the joint venture  would be to build and install a commercial desalination plant utilizing Centriforce Technology’s advanced design that has been proven to be more efficient than existing technologies. Because of the efficiencies of Centriforce Technology’s unique technology, the JV would be in a position to profit from operating the plant and selling potable water under contract with municipalities and industrial clients.

The potential JV has begun to evaluate executive candidates for CEO and other top management positions. However, until a definitive JV agreement and structure has been formally agreed upon, no employment agreements will be offered.

Centriforce Technology Corp. continues to concentrate on its goal of delivering its advanced, efficient technology to the entire world to resolve potential water shortages in the future.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.