$TNKE Huge pre-mkt News! Enters the Logistics Industry; Secures Agreement Valued at $11 Million
2014-03-13 07:46 ET - News Release ST. LOUIS, MO(eTeligis.com)
Tanke, Incorporated (OTC Pink: TNKE) (PINKSHEETS:TNKE), a diversified holding company focused on emerging technologies and "cleantech," is pleased to provide this update to its shareholders and the investment community. This release includes information about the Company's plans and announcement of a management, investment and incubation, agreement with Utime Trading & Commerce Ltd. (Utime) a logistics provider in central China.
Tanke is a diversified holding company that manages and finances emerging growth companies, with a primary focus on the development of environmental technologies. The company is now positioning to become a major participant in the logistics industry in China, a $400 billion market.
"We are extremely excited to ride along the internal consumption trend in China through our investment in Utime; this massive, fast growing market with undiscovered areas where our unique strengths can be effectively utilized," said Xiaoying Zhang, CEO of Tanke. Utime focuses on internal consumption logistics, a large segment within the industry. Internal consumption in China has accounted for 45.9% of China's growth in 2013 and it's poised to be the major growth driver in China.1
Tanke committed to develop, manage and finance emerging companies in high growth industries Tanke has decided to deploy resources to the logistics industry. Through this investment, management and incubation program Tanke seeks to exploit the high growth on internal consumption.
"We are very exciting to combine Tanke's expertise in, high growth industries, development of proprietary technology & brand promotion with our strategic networks and distribution channels throughout China will help position us to become a significant player in the region enabling both of us to achieve a global reach," said Mr. Joseph Stone, CEO of Utime Trading & Commerce Ltd.
"China, which continues to be a rapidly growing market with abundant yet-to-be-tapped opportunities and great promise, is in fundamental need of the most advanced, innovative and cutting-edge logistics solutions; solutions that can optimize the effectiveness andprofitability of the industry as a whole. With our proven track record and long history of applyingproprietaryand innovative technology innovation, investment and management in emerging growth companies, our instrumental strategic partnership with Utime will prove highly rewarding for us both," added Xiaoying Zhang.
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