RED BANK, N.J., Aug. 4, 2011 /PRNewswire/ -- TGI Group (Pink Sheets:TSPG.pk - News) (www.tgisolar.com) is to sell several of its non strategic assets. TGI Group expects the sale to bring cash for TSPG, and the company will focus on its renewable energy business niche.
TSPG management announced that the company will divest its high-tech assets. The cause of this sale is the management's belief that TSPG's interests extend too broadly. TSPG will undergo radical transformation, divesting its Edgetech Systems, Manage Vision Inc. and Worldlink Group Plc.
The company is currently launching negotiations with parties who contemplate the purchase of some of these high-tech assets.
Following the sale of these assets, the company will focus solely on the renewable energy sector. Company continues to pursue interests in the Philippines, and received query from South America, to produce solar panels in the country with one of the largest silicon production capabilities on the planet.
Company will advise the public on all developments regarding this and other company news.
About TGI Solar
TGI SOLAR POWER GROUP INC. (www.tgisolar.com) is a diversified holding company with focus on renewable energy sector. The Company offers its products and services to clients worldwide and currently maintains JVs and strategic alliances with installation, integration and energy consulting firms. TGI's strategy is to acquire new patented technologies, components, processes, designs and methods with commercial value that will give market advantage and generate shareholder value.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission.
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