T.J.T., Inc. Announces Closure of Colorado Recycling Plant and Planned Opening of North Dakota Distribution Facility
T.j.t. (PL) (USOTC:AXLE)
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Today : Monday 23 May 2011
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T.J.T., Inc. (the Company), (Pink Sheets:AXLE) –T.J.T., Inc. announces the closure of its axle recycling plant in Platteville, CO, and the pending summer startup of a collection and distribution facility in Watford City, ND.
The Platteville operation was opened in 1997 to service manufactured housing plants in CO, KS, and NE, with axles, tires, and running gear. In the last few years, all of the home manufacturing plants in CO and several in KS and NE have either closed or been drastically curtailed. It had become necessary to venture further and further away from the Platteville base of operations in order to find business. Declining home production and rising fuel costs have made it impossible to realize profitable operations from this location. The decision was made by the Board to close the facility and to relocate remaining production to the T.J.T. plant in Emmett, ID. After an orderly shutdown, the Company will not be servicing that area for the foreseeable future.
Energy development activity in the western ND area is reaching an all time high. The demand for immediate housing and related services is growing rapidly. T.J.T. has acquired a site in Watford City, ND, and plans to open a collection and distribution facility there this summer. The operation will include the collection of used axles and tires for recycling at the Company’s Emmett, ID plant. The facility will also handle the wholesale and retail distribution of manufactured home set-up supplies, including piers, anchors, skirting, and accessories.
Established in 1977, T.J.T., Inc. is a major provider of recycled axles and tires to the manufactured housing industry. It operates recycling facilities in Idaho and California, serving the western states. In addition to the recycling business, T.J.T. also sells aftermarket products to manufactured housing, recreational vehicle, and residential markets.
This release contains certain forward-looking statements, which are based on management’s current expectations including, but not limited to, general economic conditions, changes in interest rates, deposit flows, real estate values, competition, and changes in legislation or regulations, and other economic, competitive, governmental, regulatory, and technological factors affecting the company’s operations, pricing, products, and services. Any forward looking statement speaks only as of the date on which the statement is made, and the Company undertakes no obligation to update any forward looking statement.
Copies of this report and Company financial information can be found at www.pinksheets.com, or you may contact:
Joe Light
President and Chief Executive Officer
T.J.T., Inc.
208-365-5321
