Third Bench Makes The FDMC 300 List

Rhea-AI Summary

New America Energy Corp. (OTC PINK:NECA) announced its rebranding to Third Bench, a leading supplier in kitchen and bathroom cabinetry and countertops. The company reported over $24M in revenue for 2021, establishing itself among the top woodworking manufacturers in North America, as recognized by the FDMC 300 list. CEO David Fair expressed ambitions to enter the top 100 within 18 to 24 months, citing strong demand in the housing sector. Third Bench, which operates five subsidiaries, is also cash flow positive and focused on strategic acquisitions.

Positive

• Recognized on the FDMC 300 list as one of North America's largest woodworking manufacturers.
• Achieved revenues exceeding $24 million in 2021, demonstrating strong market presence.
• Plans to reach the top 100 woodworking manufacturers within 18 to 24 months.
• Cash flow positive status indicates financial health.
• Experiencing high demand in the housing sector.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / February 10, 2022 / New America Energy Corp. (OTC PINK:NECA), name to be changed to "Third Bench", an industry leader in Kitchen & Bathroom cabinetry and countertops.

We are proud to announce that Third Bench has been recognized on the Woodworking Network's Furniture, Displays, Millwork & Cabinets "FDMC" list of North America's 300 largest woodworking manufacturers, which represents a $62.4 billion industry. With over $24M in revenues in 2021, Third Bench has grown over the past several years to become one of the largest suppliers of residential and commercial cabinetry in North America.

CEO David Fair states, "We have grown significantly over the past two years, both organically and through acquisitions. Given our historical growth rate and trajectory, our goal is to be in the top 100 within the next 18 to 24 months." David Fair goes on to say, "We are experiencing a historically high demand in the housing sector with most of the metropolitan areas that we service. We are here to provide our customers with quality cabinets and countertops at the highest level of service."

The FDMC 300 is the woodworking industry's oldest recognized ranking of the largest North American producers of furniture, cabinetry, architectural millwork, windows/doors, retail fixtures, home organization and other wood-related products. This year marks their 36th annual report.

https://www.woodworkingnetwork.com/management/fdmc-300/fdmc-300-top-firms-rise

About Third Bench Holdings, LLC

THIRD BENCH is a holding company for five subsidiary companies operating as an architectural millwork and dealers in the cabinetry, kitchen and bath areas. THIRD BENCH, through its subsidiary companies, offers products in several categories: Residential Cabinets and countertops and commercial millwork throughout the Western U.S. for customers from California to Texas. THIRD BENCH also provides installation services as a part of its vertical offering. The company provides its products and services through its architectural millwork and retail facilities, currently located in Albuquerque and Las Cruces, New Mexico and Tucson, Arizona. Third Bench employs over 160 people and had revenue in excess of $18.8 million in 2020. Third Bench is on a run rate of about $24.0 million for 2021 and is cash flow positive. These projections have been provided by management and do not include the additional acquisitions that are currently under review.

Third Bench Holdings
175 S. Main Street #1410
Salt Lake City, UT 84111
https://thirdbench.com/

About New America Energy Corp.

New America Energy Corp. (NECA) is a holding company focused on strategic acquisitions that are opportunistic, cash-flow positive with hard assets.

NECA Contact:
Investor Relations
info@thirdbench.com
https://twitter.com/necaholdings

NOTICE REGARDING FORWARD LOOKING STATEMENT

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the company to differ materially from those expressed or implied by such forward-looking statements.

SOURCE: New America Energy Corp.

View source version on accesswire.com:
https://www.accesswire.com/688132/Third-Bench-Makes-The-FDMC-300-List

FAQ

What is the new name of New America Energy Corp. (NECA)?

New America Energy Corp. will be rebranded as Third Bench.

What revenue did Third Bench report for 2021?

Third Bench reported over $24 million in revenue for 2021.

Where does Third Bench rank among woodworking manufacturers?

Third Bench was recognized on the FDMC 300 list of North America's largest woodworking manufacturers.

What is Third Bench's plan for growth in the next 18-24 months?

Third Bench aims to be in the top 100 woodworking manufacturers within the next 18 to 24 months.

Is Third Bench financially stable?

Yes, Third Bench is currently cash flow positive.