TX Holdings Inc., an oil and gas operator and exploration company, today announced it is expanding its business operations to include the supply of materials and equipment to the mining industry, a venture that the company believes will achieve initial business sales in the range of $3 million – $5 million over the next 12 months.
To execute this development, the company has retained the industry experience and knowledge of Bob Adkins, owner of K&B Industrial Supply Inc. in Ashland, Ky., and Tom Chafin, owner of Chafin Track Inc. in Lexington, Ky.
Adkins and Chafin will manage TX Holdings, and have agreed to bring their respective client base to TX Holdings.
For more than 37 years, Adkins has been providing a range of supplies to the mining industry, including miner bits, roof bit carbide and drill steel, among others. Chafin has more than 20 years of experience in the track supply business, supplying materials such as rail, mine ties, splice bars and bolts.
TX Holding said that it will leverage Adkins’ and Chafin’s expertise and customer base to streamline and lower operational costs that the company would have normally incurred. The company believes this will allow a more efficient working environment, increased productivity, and result in increased revenues and higher profit margins.
To support its operations, the company has leased 4 acres located in Ashland, Ky., with a 500-square-foot building to house the materials and equipment for the mining operations.
For more information, visit www.txholdings.com
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