TGI Solar to Divest Non Strategic Subsidiaries
October 23 2008 - 11:31AM
Marketwired
TGI Solar (PINKSHEETS: TSPG), a full turnkey supplier of vertically
integrated systems for a variety of applications from Solar Parks
(solar to grid) to commercial markets, announced today that it will
divest its non strategic business to focus solely on growing its
renewable energy business. Recently retained investment bank PHD
Capital to assist with divestiture and strategic planning.
"Today's announcement will lead to the completion of the
strategic transformation we began in August 2008 when we decided to
exit all non strategic business," said William Lieberman, TGI Solar
president. "This decision reflects the successful rollout of our
solar business over the last several months, and the excellent
long-term opportunities available to accelerate our growth as a
solution provider and vertical integrator for renewable energy
business. In addition, as we continue to position the company
closer to the end customer, we will enhance our ability to provide
differentiated value and greater rewards to customers and
shareholders."
About TGI SOLAR POWER GROUP INC.
TGI Solar (TSPG) is a provider of manufacturing equipment and
turnkey manufacturing solutions to the photovoltaic (PV) industry.
The Company's products and solutions are used for production of
solar grade polysilicon, manufacturing of multicrystalline silicon
wafers, production of solar cells and assembly of complete modules.
The firm provides facility and process design and integration
know-how with its equipment. The Company offers its products and
services to PV product manufacturers on a worldwide basis, and a
substantial percentage of its sales are to customers outside the
United States.
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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Contact: TGI SOLAR POWER GROUP INC. Billy Lieberman
1-888-766-6527 David Zazoff 212-505-5976
http://tgisolargroup.com
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