ORLANDO, Fla., March 11, 2004 (PRIMEZONE) -- TS&B Holdings, Inc. ("Company" or "TS&B") (OTCBB:TSBB), announced today it plans to Acquire Buehler Enterprises. The CEO of TS&B Holdings Inc., James E. Jenkins executed a Letter of Intent with an Orlando Site Preparation Company.
The Company recently entered into a Letter of Intent with Carl V. Buehler of Buehler Enterprises to invest in the site preparation business. The Company will own a 51% equity interest in the business and will provide management services. Buehler Enterprises is in the site preparation, underground utility and land clearing business in Florida. One of Buehler Enterprise's most recent projects was a half-mile themed river water feature at The Gaylord Texan at Lake Grapevine, Fort Worth, Texas. Buehler also has projects planned at Camellia Point in East Orlando and the Orlando Flight Training Facility in Kissimmee. The company has several outstanding bids in the greater Orlando area awaiting responses. The Letter of Intent signed with Mr. Buehler is subject to material and customary contingencies.
The CEO of TS&B Holdings Inc., James E. Jenkins stated, "We're very excited about the revenue potential of this business and we look forward to working closely with Mr. Buehler to grow the business. Mr. Buehler has extensive experience in site preparation, underground utility and land clearing. There is a large market both here in Florida and around the country for this business. Revenues for this year are projected to be approximately $2 million dollars 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.