Company announces an agreement to absorb the operations of regional commercial flooring company< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
April 23, 2012
New Canaan, CT – Tesoro Enterprises, Inc. (TSNP:PK) announced today that it has reached agreement to absorb the operations of a regional commercial sales and installation flooring company. Effective May 1, 2012, the commercial sales and installation operations will be absorbed into Tesoro’s wholly owned subsidiary, Fashion Floor Covering & Tile, Inc. and managed as a third outlet.
Tesoro’s CEO, Henry J. Boucher, said that the absorption of a commercially focused operation should have a positive impact on net sales and profitability. He also noted that there is a historical relationship between these operations and the consolidation is a natural event.
Forward- Looking Statements
Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, those factors that are disclosed under the heading “Risk Factors” and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.
Tesoro Enterprises, Inc.
26 Cross Street
New Canaan, CT 06840