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
