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Tanke Signs Incubation and Management Agreement in Growing Chemical Manufacturing Sector
Tanke Signs Incubation and Management Agreement in Growing Chemical Manufacturing Sector.
About this update from Tanke Incorporated
[{"type":"text","content":"\n \n \n Tanke Signs Incubation and Management Agreement in Growing Chemical Manufacturing Sector\n \n \nTanke Signs Incubation and Management Agreement in Growing Chemical Manufacturing Sector\n\nFirst Agreement Contributes $4.8 Million in 2014 Revenues\n\n \n ST. LOUIS, MO--(Marketwired - Feb 18, 2014) - Tanke, Incorporated (OTC Pink: TNKE) (the \"Company\"), a diversified holding company focused on emerging technologies and \"cleantech\" is pleased to announced the signing of an incubation, management and investment agreement with Xinyue Coating and Finishing Ltd., a company headquartered in Jiaxing City, China. The agreement is expected to bring management revenues of $4.8 million in 2014 and additional incubation and investment revenues of $60 million. \n Tanke's incubation and management program will provide Xinyue microfunding, management and financial advisory services to transform their export dependent model into a growth oriented one thought diversification, brand promotion and technology adaptation. \n \"Xinyue reputation in their regional industry is already very good and under our incubation and investment program we expect them to expand into new, larger opportunities and broaden their geographic distribution. Its business is in a growing and undiscovered industry which we like, a good investment opportunity with much upside potential,\" stated Xiaoying Zhang, CEO of Tanke Inc.\n Xinyue is a leading pigment, dye and paint manufacturer and distributor in the Zhejiang Province, a coastal area with over 54 million population and a GDP of $613 billion (2013), 4th largest regional GDP in China.2 Xinyue is a well established dye, pigment and paint company's whose main product have traditionally served the export-oriented market. After a decade, they have grown to become the leader in their region with a group turnover of over $500 million. However, dependency on the export market has required them to diversify into other market and business segments. The company is a successful startup case. \"We started with just one truck, a handful of brushes, and the desire to provide general contractors with resources on which they could depend,\" says Joseph Z. Miao, Founder and President of Xinyue. \n The worldwide market for dye and pigments is expected to rise to US$34.2 billion by 2020.5 Asia...