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Microcap & Penny Stocks : MegaWorld Inc. (MEGW)
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To: WZGEKKO who wrote (755)8/24/1998 12:07:00 PM
From: Emec  Read Replies (1) of 1058
 
It is on the Dow and a previous question about TBS revenue is answered

megaworld Inc.
Dow Jones Newswires -- August 24, 1998
MegaWorld To Buy Texas Structural Engineering Firm

NEW YORK (Dow Jones)--MegaWorld Inc. (MEGW) agreed to acquire Total Building Systems Inc., a Texas structural engineering and manufacturing firm.

Financial terms weren't disclosed.

A MegaWorld spokesman said the company expects to close the acquisition in the next 30 days.

Charles D. McPhail, current president and chief executive of Total Building Systems, will be named chief executive of MegaWorld upon completion of the merger.

In a press release Monday, MegaWorld said it projects the combined company's annual revenues will exceed $30 million.

A MegaWorld spokesman said the company expects Total Building Systems to generate about 60%, or $18 million, of that annual revenue projection.

MegaWorld also plans to file for listing on the Nasdaq exchange upon completion of the merger.

Total Building Systems, which employs about 225 people, specializes in purpose built structures for the oil and gas, communications and transportation industries.

MegaWorld is a diverse holding company with publishing, communications and international time-share operations.


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