ORLANDO, Fla., March 22, 2004 (PRIMEZONE) -- TS&B Holdings, Inc. ("Company" or "TS&B") (OTCBB:TSBB) recently announced it acquired Buehler Earth & Waterworks LLC ("BEW"), an Orlando site preparation firm. Today, BEW was awarded the contract for excavation and site preparation at the Orlando Flight Training Facility in Kissimmee, Florida. In addition, BEW was previously awarded the contract for Camellia Point in East Orlando. (http://www.tsbfinancial.com/)
The Company owns a 51% equity interest in BEW and will provide management services to the firm. One of Mr. Buehler's most recent projects was a half-mile themed river water feature at The Gaylord Texan at Lake Grapevine, Fort Worth, Texas. Buehler Earth & Waterworks also has projects planned in addition to the Orlando Flight Training Facility. BEW has several outstanding bids in the greater Orlando area awaiting responses.
The CEO of TS&B Holdings Inc., James E. Jenkins stated, "we're very excited about the revenue potential of Buehler Earth & Waterworks. The Company and Mr. Buehler are working to rapidly grow this business organically and we look forward to working closely with Mr. Buehler to achieve this goal." Mr. Buehler has extensive experience in site preparation, underground utility and land clearing. Also, the CEO of TS&B has over five years of experience in the construction and land development business. 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.