Home Page | Investor Relations | Transtech Profile | Press Releases | United Environmental Services Profile
TRANSTECH INDUSTRIES, INC. REPORTS STOCK SOLD FROM 401K PLAN
PISCATAWAY, N.J., February 21, 2003 - Transtech Industries, Inc. (OTC BULLETIN BOARD:TRTI)reports that Victory Capital Management (“Victory”), the administrator of the Transtech Industries, Inc. Retirement Savings and Profit Sharing Plan (the “401k Plan”), has elected to discontinue its bundled defined contribution services. The 401k Plan with Victory permitted the acquisition of Transtech Industries, Inc.’s Common Stock (“Company Stock”) as an investment option. The new administrator cannot accommodate Company Stock as an investment option under the replacement plan. As a result, the approximately 40,414 shares of Company Stock held in the 401k Plan are in the process of being liquidated through sales on the open market. The account of Mr. Robert V. Silva, the President, Chief Executive Officer and Chairman of the Board of Directors of the Transtech Industries, Inc., within the 401k Plan held approximately 28,003 of the 40,414 shares of the Company Stock. The shares of Company Stock held in Mr. Silva’s account are being sold along with the other shares of Company Stock held in the 401k Plan.
Home Page | Investor Relations | Transtech Profile | Press Releases | United Environmental Services Profile