BOCA RATON, Fla., April 26, 2016 /PRNewswire/ -- Banyan Rail Services Inc. (OTC: BARA) is currently seeking strategic acquisitions that will substantially increase shareholder value as part of our long term growth strategy. We are focused primarily on acquiring companies within the rail services and manufacturing sectors with significant revenues with consistently strong earnings before interest taxes depreciation and amortization. Our focus is to partner with existing management teams who are dedicated to further growing the companies both organically and through future mergers and acquisitions.
After completion of our due diligence review and in accordance with our long term growth strategy, we elected to terminate the previously announced asset purchase agreement and real estate purchase agreement, both dated February 16, 2016, between Banyan, Thermocast Acquisition Corporation and International Thermocast and its affiliated companies. See Banyan's Form 8-K filed on April 20, 2016 for additional information.
Safe Harbor Regarding Forward-Looking Statements
There can be no assurance that Banyan will be able to complete the acquisitions described in this press release. In addition, some of the statements that we make in this press release, including statements about our confidence in the Company's prospects and strategies are forward-looking statements within the meaning of §21E of the Securities Exchange Act. Some of these forward-looking statements can be identified by words like "believe," "expect," "will," "should," "intend," "plan," or similar terms; others can be determined by context. Statements contained in this release that are not historical facts are forward-looking statements. These statements are necessarily estimates reflecting our best judgment based upon current information, and involve a number of risks and uncertainties. Many factors could affect the accuracy of these forward-looking statements, causing our actual results to differ significantly from those anticipated in these statements. You should not place undue reliance on our forward-looking statements, which reflect our analysis only as of the date of this release. The risks and uncertainties listed above and in documents that we file with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q, and any current reports on Form 8-K, must be carefully considered by any investor or potential investor in the Company.
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SOURCE Banyan Rail Services Inc.