In the end of November, business intelligence and research firm Laguna Research Partners LLC has released a Research Report providing analysis of the recently completed merger between Tank Sports and People's Motor International LTD (PMI), a British Virgin Islands company with manufacturing operations in Pudong, Shanghai.
BVI-registered People Motor International (PMI) – its primary name is Dazon - is one of leading buggy and go-kart developers and manufacturers. It has a special focus on motorsports vehicles approved by the European Economic Community and the US Environmental Protection Agency. For the first 8 months of 2007, the BVI company generated $4.45 million in sales, and Tank Sports expects cost saving are likely to be realized as a result of this merger.
Tank Sports is one of the leading companies that develops, engineers, and markets high performance on-road motorcycles and off-road all-terrain vehicles, through OEMs in China, and utilizes the so-called “China Concept” to participate in the $31.5 billion annually motorcycle/ATV market.
The Laguna Research Partners analysis of the planned BVI company's merger with Tank Sports states that “In the opinion of Laguna Research Partners, Tank's January 2007 acquisition of RedCat Motors, February 2007 financing of $1.1 million, and operating expense reductions, provide the foundation for improved operating results over the next several years. The company's acquisition of PMI, in our opinion, provides even greater certainty regarding Tank's ability to achieve our projected revenue and profit figures."
