INDIANAPOLIS, Feb. 22, 2007 (PRIME NEWSWIRE) -- Tank Sports (OTCBB:TNSP) announces its exhibition in the top powersports industry trade show in the country -- the 39th annual Dealernews International Powersports Dealer Expo, held in Indianapolis, Indiana from February 19th through the 21st. This is the first opportunity for Tank to showcase its dual brand names after the acquisition of Redcat Motors.
Tank's acquisition of Redcat Motors was one of the hottest topics among attending dealers. According to some of the approximately 20,000 visitors to the show, Chinese-made motorcycles are becoming stronger in the U.S. market, and yet more market consolidation is expected. The consensus is that companies that will survive and grow must possess not only vast manufacturing resources, but also a clear operational strategy. Tank Sports has its manufacturing base in China supported by a professional team of engineers, and has increased their dealership number in the U.S. to more than 500 nationwide through the acquisition of Redcat Motors. The company is poised to become a leader in the industry.
According to the Tank and Redcat staff attending the Expo, new dealers interested in joining the Tank family increased from last year, as did the number of orders placed at the show. It is estimated that sales of Tank and Redcat combined in 2007 will increase by approximately 30% compared to last year.
About Tank Sports, Inc.
Tank Sports is a leading company that develops, engineers, and markets high performance on-road motorcycles and scooters, as well as 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.
The Tank Sports, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=3000
About Redcat Motors
Established in 2001, Redcat Motors is an importer and distributor of off-road powersports products from China. The company has 5 regional warehouse locations and a dealership network of more than 300 dealers. Redcat's monthly parts revenue is $70,000, and in 2005 the company's total revenue was $19,000,000. With a gross profit of $3.40 million, the company realized a net earning of approximately $643,000 in 2005.