Press Release (ePRNews.com) - NEW YORK - Jul 14, 2017 - TGI SOLAR POWER GROUP INC. (OTC Markets: TSPG) (“TGI”), a diversified technology company, today signed an agreement with an automotive manufacturer in Ukraine. This agreement is not final and calls for the parties to focus their efforts on organizing the production of electric vehicles including passenger cars, step vans, pick-up trucks, and other utility vehicles. TGI management will immediately begin series of follow up meeting with management of the facility to finalize budgets, staff, designs, timelines and other operational issues.
The company that TGI selected, that became automotive manufacturer developed from a business founded by the German entrepreneur Abraham J. Koop to manufacture agricultural machinery in 1863. It produced iron parts for windmills, reapers, threshers and plows. This company is currently the sole enterprise in Ukraine having a full-scale cycle of passenger cars production, including stamping, welding, painting, body trim and car assembly. New modern high-technology production processes, meeting requirements of International Standard ISO 9001:2000, are operating at the plant.
In related news, TGI recently signed an agreement with FINEX (a Ukraine insurance company) to develop a line of insurance products for TGI, to include comprehensive policies for future car owners, extended warranties, road assistance and battery replacement. TGI will be able to utilize FINEX office space and back office, accounting and legal for operations conducted in Ukraine.
For more information please see www.otcMarkets.com under ticker symbol “TSPG”.
About TGI Solar: TGI SOLAR POWER GROUP INC. is a diversified holding company. TGI’s strategy is to acquire innovative and patented technologies, components, processes, designs and methods with commercial value that will give competitive 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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TGI SOLAR POWER GROUP