LOS ANGELES, Dec. 27, 2006 (PRIME NEWSWIRE) -- Tank Sports (OTCBB:TNSP) today announced that it signed an agreement on Dec. 10, 2006 to form a strategic alliance with Long SA de C.V., a motorcycle manufacturer in Mexico, for improving competitiveness and expanding upon the global market.
The strength of Tank Sports is its accumulation of mature technologies; fixed product quality standards; product research and development abilities; and a professional team of engineers. On the other hand, Long started importing motorcycles into Mexico in 1996 and building factory in 2000. Today, Long has obtained two complete production lines that include a metal processing plant, a welding and chemical processing plant, powder spray painting, assembling line, quality control, technical and service department. Moreover, Long has more than 200 dealers and an annual revenue of over 10 million dollars this year. Tank Sports Chairman Jiangyong Ji and President Jing Jing Long combined have over 60% ownership of Long.
The cooperative aspects of the alliance between these two firms include new product developmental research and sharing of resources. Based on this alliance relationship, the two firms will consider various other cooperative areas and strategies. After Long's reorganization, the two firms will start preparing for a merger. They are looking forward to improving their competitiveness in the world power-sports industry and expanding market share, mainly in the Americas.
Tank Sports, Inc.
Tank Sports is a leading company that develops, engineers, and markets high performance on-road motorcycles and scooters, off-road all-terrain vehicles (ATVs), dirt bikes and Go Karts through OEMs in China. It utilizes the so-called "China Concept" to participate in the $31.5 billion annually (data: Motor Industry Council) motorcycle/ATV market.
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Long SA de C.V.
Long SA de C.V. is a motorcycle manufacturer in Mexico. With 250 employees, Long is the one and only government approved (in 2001) motorcycle manufacturer in Mexico, and it has received zero custom tax privilege. Long has over 200 dealerships and an annual revenue of over 10 million dollars in 2006.
Safe Harbor Statement
The foregoing news release includes numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited "safe harbor" for certain forward-looking statements. Forward-looking statements in this news release relating to business developments are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with a small business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.