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I tried TLS and TEL too, but they had too much debt! Also, their sales growth was not consistently high (TLS was 5 to 9% and TEL -5 to 24%) and their gross margins were a bit light (TLS 25 to 33% and TEL 43 to 51%).

Same comment for Westfield Holding - too much debt and gross margins only 17 to 30%.

Regards, Max
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