SOURCE: Thomas Equipment Inc.

March 06, 2006 06:30 ET

Thomas Equipment Inc. Receives Approval to Trade on the American Stock Exchange

Thomas Equipment's Common Stock Will Trade Under the Ticker Symbol THM

MILWAUKEE, WI -- (MARKET WIRE) -- March 6, 2006 -- Thomas Equipment Inc. ("Thomas") (OTC BB: TEQI) announced today that its common stock has been approved for trading on the American Stock Exchange (AMEX) under the stock symbol THM. Thomas management anticipates that its shares will begin trading on the AMEX during the week of March 13, 2006, which will coincide with the discontinuance of the quotation of its shares on the OTC Bulletin Board. The Company's approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the American Stock Exchange, and may be rescinded if the Company is not in compliance with such standards.

Clifford Rhee, president and CEO of Thomas Equipment Inc., commented, "Thomas Equipment, with manufacturing operations in Canada and Korea, has completed its consolidation of all its newly acquired companies and is now positioned to capture meaningful global market share within the small to mid-size construction equipment market."

David Marks, Chairman of Thomas Equipment Inc., added, "Since Thomas Equipment meets the more stringent qualifications of the American Stock Exchange, we believe that it is time to move from the OTC Bulletin Board to a national stock exchange. The exchange's specialist system should minimize trading volatility and increase liquidity as our business growth gains momentum. We look forward to a long and proud association with the American Stock Exchange."

Thomas Equipment, Inc. has 21.3 million shares of common stock outstanding and approximately 60.1 million shares of common stock on a fully diluted basis of which insiders hold 28 percent.

About Thomas Equipment Inc.

Thomas Equipment Inc.,,, and its subsidiaries including Pneutech Inc.,, Rousseau Controls Inc.,, Samsung Industry Co. Ltd.,, and Hydramen Fluid Power Limited, Thomas is an innovative and technologically advanced global manufacturer of a full line of skid steer and mini skid steer loaders, rough terrain forklifts, telescopic handlers as well as attachments, mortar/plaster mixers, mortar boxes, buggies, mobile screening plants and six models of mini excavators. Thomas distributes its products through a worldwide network of distributors and wholesalers. In addition, Thomas' wholly owned subsidiaries manufacture specialty industrial and construction products, a complete line of potato harvesting and handling equipment, fluid power components, pneumatic and hydraulic systems, spiral wound metal gaskets, and packing material.

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Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TEQI could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, and such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.

Contact Information

  • Investor Contact:
    Yvonne L. Zappulla
    Managing Director
    Wall Street Investor Relations Corp.


    Media Contact:
    Blois Olson
    New-School Communications