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<br /> <br />. INDUSTRIES, INC. <br /> <br />PROPOSED PROJECT <br /> <br />Establish a whoUy owned subsidiary of TEAM Industries, Inc. Buy/build <br />. approximately 35,000 sq. ft. (30,000 sq. ft. manufacturing and 5,000 sq. ft. <br />office space) facility on about a 15-20 acre site. -... <br /> <br />The acreage' is needed for future expansions. We would envision the plant <br />to grow to 75,000-100,000 sq. ft. in the next five years. <br /> <br />. <br /> <br />We anticipate the" cost of the land and initial building to be about <br />$1,250,000 - $1,500,000 (based on current facility available for sale). In <br />addition to the land 'and buildings we anticip~te a cost of $1,300,000 _ <br />$1,500,000 for shop equipment and office equipment. .We estimate <br />working capital requirements will be ,about $750,000 - $1,000,000 the first <br />year. Anticipated revenues the first year are $4,000,000 - $5,000,000, with <br />that number growing to $20,000,000 - $25,000,000 by the year five. <br /> <br />We expect to have 30-35 fuli time employees by the end of the first year <br />with that number growing to 135-150 by the end of year five. Most of the <br />initial 30-35 employees are expected to come from the local region, while <br />future employment growth would be. almost exclusively from the local <br />region. <br /> <br />We expect completion of the initial phase ofthis project to.be completed by <br />the second quarter of 2004. <br /> <br />. <br />