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MegaWorld, Inc. Acquires Total Building Systems, Inc.
Business Wire - November 13, 1998 11:19
NEW YORK--(BUSINESS WIRE)--Nov. 13, 1998--MegaWorld, Inc. (OTC:MEGW) today announced the completion of the acquisition of Total Building Systems, Inc. (TBS) of Houston, Texas. Terms of the acquisition were not disclosed.
Total Building Systems, Inc. is an integrated manufacturing and engineering company that provides services to the oil and gas and telecommunications industries.
With the closing of this transaction, Charles D. McPhail, president and chief executive officer of TBS, has been elected chief executive officer (CEO) and a director of MegaWorld, Inc.
MegaWorld, Inc. is scheduled to begin its "Voice Over the Internet Telephony" operations prior to year end through its ITS Telephony, Inc. subsidiary. MegaWorld also manages a real estate time-share through its subsidiary, MegaWorld Leisure, Inc. at Castello Torre Ratti near Milan, Italy.
MegaWorld, Inc. is an Electronic Bulletin Board company (MEGW), and plans to become a fully listed NASDAQ company in 1999.
NOTE: Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements invite risks and uncertainties, including without limitation, continued profitability of the company, increased levels of competition for the company, and other risks.
CONTACT: Win Roll, 212/750-3333
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