ORLANDO, Fla., March 17, 2004 (PRIMEZONE) -- TS&B Holdings, Inc. ("Company" or "TS&B") (OTCBB:TSBB), announced it has executed the acquisition agreement with an Orlando site preparation company.
The Company now owns a 51% equity interest in the business and will provide management services. As part of the acquisition agreement with Buehler Enterprises, the name of the Company is now Buehler Earth and Waterworks, LLC (BEW, LLC). BEW specializes in site development and infrastructure construction including, but not limited to, clearing, earthwork, utility construction, storm drainage, curbs, sidewalks; roadwork including sub-base, base and asphalt placement.
BEW's mission is to provide a full line of site construction and related services to the land/site development industry (public/private) utilizing a team approach to deliver the highest in quality work seeking expeditious performance without compromising either cost efficiency or good safety practices.
The CEO of TS&B Holdings Inc., James E. Jenkins stated, "We're very excited about the projected revenue of BEW and we look forward to working closely with Mr. Buehler in growing the business." TS&B believes it can bring additional revenues through its commercial real estate development contacts. There is a large market both here in Florida and around the country for this business. As previously stated the Company projects revenues for this year to be approximately $2 million with net income projected to be approximately $400,000.
TS&B Holdings Inc. is a holding company under the Investment Act of 1940 aggressively seeking investment opportunities in emerging and fast growth industries. The Company's objective is to invest funding and provide services, including consulting services to micro-, small- and mid-cap businesses primarily in the $1 million to $150 million revenues range.
This press release contains certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could cause or contribute to such differences include, but are not limited to, market acceptance of products, services and technologies; changes in local currency valuations; the Company's ability to continue to secure sources of financing; and other factors as described in the Company's filings with Securities and Exchange Commission. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.