ORLANDO, Fla., July 6, 2004 (PRIMEZONE) -- Buehler Earth & Waterworks LLC ("BEW"), a portfolio company of TS&B Holdings, Inc., ("Company" or "TS&B") (OTCBB:TSBB) was recently awarded three new contracts as well as two change orders to a current contract for excavation and site preparation totaling over $100,000.
BEW recently completed the original contract at the Orlando Flight Training Facility in Kissimmee, Florida and was awarded two additional change orders for work to be completed in the next few weeks. BEW also received new contracts from Roebuck Construction for site work at the Hilton Vacation Club, and from Westco Fountains for site work at the Sarasota Court House. Also, BEW obtained residential site work for Janus Builders.
The Company owns a 51% equity interest in the BEW and provides management services to the firm. BEW currently has over $3.2M in outstanding bids awaiting responses.
The CEO of TS&B Holdings Inc., James E. Jenkins, stated, "We're very excited about the contracts recently signed with Buehler Earth & Waterworks. The company anticipates these new site work contracts will evolve into multi-site contract awards. Recently the contract award process has been slow mainly due to the shortage of concrete but we are extremely optimistic about being awarded additional contracts in the coming weeks." As previously stated there is a large market both here in Florida and around the country for this business. Revenues for the year are projected to be approximately $2 million dollars with net income projected to be approximately $400,000.
About TS&B Holdings, Inc.
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.
Safe Harbor
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.