Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: david simns who wrote (99049)	1/8/2002 9:34:15 AM
From: Jim Bishop	Read Replies (1) \| Respond to of 150070

FXGP FINX Group Completes Acquisition of Controlling Interest in Trans Global Services, Inc. Business Editors and Technology Writers ELMSFORD, N.Y.--(BUSINESS WIRE)--Jan. 8, 2002--Lewis S. Schiller, Chairman and CEO of The FINX Group, Inc. (OTCBB:FXGP) reported today that The FINX Group has completed acquisition of a controlling interest in Trans Global Services, Inc. (OTCBB:TGSI). The transaction involved a combination of cash and FXGP common stock. Under FXGP's planned restructuring, TGSI will be included in its Defense Group of companies. TGSI provides the services of scientists, engineers, designers and a full spectrum of technology personnel to supplement a client's technical work force or fill its technology needs. The company effectively "Transports Technology Through People," Schiller said. It currently serves many commercial and military aircraft manufacturers in the United States along with other Fortune 100 companies from its offices in New York, Orlando, Phoenix, Arlington, TX and Renton, WA. TGSI's revenues for the fiscal year ended Dec. 31, 2001 are expected to reach $27 million, an 18% increase over the previous year. Anticipating recovery of the economy by mid-year 2002, along with expected increased spending in the military aircraft and missile sectors, the company looks forward to continued growth in F/Y 2002, according to Schiller. Schiller was formerly Chairman and CEO of TGSI. In 1997, his last year in that post, the company had revenues of $76 million. Schiller said, "I am confident that the record revenue of 1997 will be exceeded through internal growth and implementation of the new acquisition strategies we have in place for the year ending Dec. 31, 2002." --30--brm/se* CONTACT: Stock Communications Group, Inc. Jennifer Mazzini, 713/297-8886 or Molesworth Associates, Inc. Gordon Molesworth, 520/625-0550 KEYWORD: NEW YORK INDUSTRY KEYWORD: AEROSPACE/DEFENSE MANUFACTURING MERGERS/ACQ SOURCE: The FINX Group, Inc. Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *