LOS ANGELES, March 19, 2007 (PRIME NEWSWIRE) -- Tank Sports (OTCBB:TNSP) announced today that it has signed an agreement to form a strategic alliance with Jianshe Industry Group, Ltd.
"Jianshe is one of the top powersports equipment manufacturers in China with proven quality products," said Tank CEO Jiangyong Ji. "One of Jianshe's strengths is its large displacement engine ATV, along with a professional team of R&D engineers and equipment. Tank has more than 500 dealers nationwide who are hungry for these larger displacement engine ATVs, and the alliance will strengthen Tank's weakness in the area of larger power ATVs. As a result, we've negotiated with the Jianshe Industry Group to form a strategic alliance on the large displacement engine ATV products and add them as a valuable addition to Tank's ATV product line."
The alliance with Tank will provide Jianshe an outlet for its products in the U.S. with an already-established distributor of Motorcycles, Scooters and other off-road products currently not manufactured or distributed by Jianshe.
The cooperative aspect of the two companies will include joint research and development of 250cc, 400cc and 700cc ATVs, as well as service and technical support provided by Jianshe. At the same time, Tank has obtained the right to become the exclusive wholesaler of Jianshe products in U.S. and Mexico. The alliance between Tank and Jianshe will provide Tank's U.S. dealers with a larger variety of ATV products for the 2007 riding season and is projected to increase Tank's sales revenue.
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.
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Jianshe Industry Group, Ltd
A fast-growing state-owned enterprise for providing products including motorcycle manufacturing, distribution, related service, and automotive components as well. It's one of the top 500 enterprises in China, with a workforce of 11,000 employees in 6 continents, 87 countries. Its main products include motorcycles, automotive AC compressors, and special equipment. It has sold more than 14 million motorcycles and 1.4 million automotive AC compressors since 1980.
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