For Immediate Release - TRB Systems International and Afine Chemicals Limited Enter Into Definitive Merger Agreement
New Jersey, April 8, 2013 (PR Newswire) -- TRB Systems International through its subsidiary, Alenax (Tianjing) Bicycle Corp., engages in the production and sale of bicycles, and fitness and motorized two wheel transportation products primarily in China. It manufactures a line of bicycles, including exercise bicycles, electric bicycles, and wheelchairs under Alenax brand name. The company offers various models of bicycles comprising Mountain Bikes (MTB); leisure bikes, BMX (children); ATB (all-terrain); and cross trading bikes. TRB Systems is traded on the OTC Securities Exchange under TRBX. TRB Systems announced today that they have entered into a definitive merger agreement pursuant to which Afine Chemicals Limited will merge with and into TRB Systems International. Completion of this transaction will provide Afine Chemicals Limited additional exposure to the markets for continued growth and development. Afine Chemicals Limited will become a wholly-owned subsidiary of TRB Systems International.
Under the terms of the agreement which has been approved by both companies Board of Directors, TRB Systems International will issue 20,000,000 shares of its common stock in exchange for all of the assets of Afine Chemicals Limited. Mr. Phil Wei, current CEO of Afine Chemicals Limited, will assume the responsibilities of CEO for TRB Systems International under the merger agreement.
Afine's President and Chief Executive Officer said, "We are very excited about combining Afine Chemicals Limited with TRB Systems International and believe that it presents a unique opportunity for shareholders of both companies. Contacts and existing facilities within the TRB Systems International infrastructure will provide immediate global expansion opportunities for Afine Chemicals Limited.
The closing of the merger is still subject to customary closing conditions, including approval of the transaction by Afine Chemicals Limited shareholders. Subject to satisfaction or waiver of these conditions, Afine Chemicals Limited anticipates that the merger will close during the second quarter of 2013.
About TRB Systems International
TRB Systems International, Inc., through its subsidiary, Alenax (Tianjing) Bicycle Corp., engages in the production and sale of bicycles, and fitness and motorized two wheel transportation products primarily in China. It manufactures a line of bicycles, including exercise bicycles, electric bicycles, and wheelchairs under Alenax brand name. The company offers various models of bicycles comprising Mountain Bikes (MTB); leisure bikes, BMX (children); ATB (all-terrain); and cross trading bikes. TRB Systems International intends to offers its products to stepper users, health and fitness facilities, and senior citizens, as well as rehabilitation and therapeutic markets through regional distributors in Japan, India, Nigeria, Benin, Canada, Ivory Coast, Tanzania, Brazil, Vietnam, Korea, Taiwan, and the United States. The company was founded in 1997 and is based in Piscataway, New Jersey.
About Afine Chemicals Limited
AFINE CHEMICALS LIMITED is specialized in the fine chemicals and pharmaceuticals which have enjoyed great popularity in world markets. Since 2005, we have been rapidly growing to a leading manufacturer and trader of APIs in China. Today, we have set up two independent business divisions: Fine chemicals division and Pharmaceutical division.
Fine chemical department: manufacturing and trading a variety of high-quality of optical brightener and textile auxiliary as well as Dye stuff, Pigments and other fine chemicals. Now we are one of the leading exporters of Optical Brightener in China.
Pharmaceutical division: manufacturing, contract R&D, marketing and distribution of pharmaceutical active ingredients, intermediates and feed additives.
In March 2009, Hangzhou government awarded "Top 100 innovation-oriented export enterprises of Hangzhou in 2008" among more than 13,000 export enterprise of Hangzhou.
Innovation and good service are the secrets of our success and rapid growth. Continuous innovation improves the quality of our products, and helps us launch new market-oriented products into the market. Warm and efficient service guarantees the timely, professional and sincere service to our clients.
"Innovation & Service, Always Fine", is our permanent promise to our clients.
TRBX CURRENT SHARE STRUCTURE
TRBX Update
AS = 60M
OS = 33.5M
Float = Approx 9M
TRB SYSTEMS INTERNATIONAL, INC.
TRB Systems International Inc., incorporated on April 9, 1997, through its wholly owned subsidiary Alenax Parts Mfr. (Tianjin) Corp. (Alenax), is engaged in the development, marketing and manufacturing a range of Alenax- bicycles, including Alenax-Exercise Bicycle, Alenax -Electric Bicycle and Alenax-Wheelchair (collectively Alenax-Bicycles). The technology applied at its Alenax products is called natural motion technology (NMT). Its products include NMT's bicycles, fitness/home trainers and electric bicycles. The Company operates in two segments: licensing and wholesale of finished bikes and parts segment.
Alenax Bicycles
The Company's major products are Alenax bicycles, which provide up and down pumping, or stepping action, similar to a body's natural walking and running motion. An Alenax with NMT bicycle has two main components: Controller and Rear Hub. The controller controls the six different pedaling motions of the multi-function bike, while the rear hub is a dual ratcheting sprocket engaged by a drive chain. It offers five models of NMT bicycles: Mountain Bike (MTB), Leisure Bike, BMX (Children), ATB (all-terrain) and Cross Trading -Bike.
NMT-Fitness/Home Trainers
The Company's fitness/home trainers are a natural development of its experience with physical therapists using its outdoor bike concept of the natural gait motion for their patients. Its Versi-Trainer meets the training and rehabilitative device requirements, and allows individuals to exercise their abdominals, hips (lateral rotators), quadriceps, hamstrings and gluteus muscles. All actions are performed in the correct biomechanical positions.
NMT-Electric Bicycles
POWER+BIKE is an outdoor bike that uses the same up-down motion of all the NMT bicycles, but with the ability to, with the twist of the handle, become an electric bike with speed capability of 23 miles per hour. NMT's POWER+BIKE is 23 pounds and can be pedalled in a business skirt or suit.
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Mr. Byung D. Yim is Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer, Secretary of TRB Systems International Inc., since 1997. From January 2006 to present Mr. Yim also serves as President and CEO of Alenax Parts Mfr (Tianjin) Corp., the company's operating subsidiary. Mr. Yim graduated from of Han Yang University of Korea with a B.A. degree in Nuclear Engineering and Electronics.
Mr. Marn T. Seol is Vice Chairman of the Board - Research and Development of TRB Systems International Inc., since July 1993. Mr. Seol is the inventor of both propulsion for lever propelled bicycles and multi-purpose transmission mechanisms for bicycles. Mr. Seol began pursuing his interest in designing bicycles in 1976 by opening Dong Yang Industrial Co., Ltd. in Korea. Mr. August Rheem is Vice President, Director of TRB Systems International Inc. He has been the company's Vice President since January 1996 and elected to new board of director in May, 2006. Mr. Rheem graduated with a BA degree in Economics from Yen Se University in Seoul, Korea. Prior to his joining the Company, he had served as President of Leisure Dynamic Corp. for eight years, and President of H.J. Sports, Inc. for twelve years.
Mr. Joon Ki Moon is Secretary, Director of TRB Systems International Inc. He has been the company's Secretary since December 15, 2006. Prior to his joining the Company from March 2002 to December 2003, he was Team Chief of General Management Department at TRB Global Corp., a bicycle manufacturer in Seoul, Korea. From January 2004 through September 2006, Mr. Moon held various part-time or internship positions at Alenax Parts Mfr (Tianjin) Corp., the subsidiary of the Company, most recently as Assistant to President of Alenax (Tianjin) Bicycle Corp. Mr. Moon holds a Bachelor degree in Economics from Kang Won University in Kang Won-Do, Korea and a Bachelor degree in Chinese from Nankai University in Tianjin, China.
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