RED BANK, NEW JERSEY — (Marketwire) — 08/03/11 — TGI Group (PINK SHEETS: TSPG) management announces that the company will sell several of its non strategic assets. TGI expects that the sale will generate cash for TSPG and help the company to focus on its core business in renewable energy which currently receives many enquiries in the US and globally.
Due to the current large market interest in renewable technologies, the company announces that the management takes radical steps to follow these trends and will focus exclusively on the development of its renewable technologies business.
Henry Val, TSPG CEO stated, “We know that there is a great potential in high tech sector and Edgetech Systems, Manage Vision Inc. and Worldlink Group Plc. have a great future. However, these high-tech assets cause TSPG–s interests to spread too broadly, whereas TGI wants to maintain its focus. This is why we are undergoing this radical transformation. To protect our interests, we are divesting our technology group with reasonable profit. This will also allow us to focus solely on the renewable energy sector, which is our core business interest.
“Regarding the renewable energy, while we continue pursue our interests in Philippines, we want to share that we received enquiries from certain large South American country for cooperation. If we reach an agreement, we are looking at producing solar panels in the country with one of the largest silicon production capabilities on the planet.
“We will update our followers on all developments regarding this and other opportunities in the renewable energy sector.”
About TGI Solar
TGI SOLAR POWER GROUP INC. () 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.
Contacts:
TGI Solar Power Group Inc.
Henry Val