TransAKT Ltd. Announces Merger Discussions with Chinese Sanyo Distributor
Monday April 16, 6:30 am ET
CALGARY, Alberta--(BUSINESS WIRE)--TransAKT Ltd. (OTCBB: TAKDF - News), a global Voice over Internet Protocol ("VoIP") hardware and network provider for commercial and residential users, is pleased to announce that the Company has entered into merger discussions with the exclusive Sanyo distributor for telecommunication products in China. Sanyo is a well known brand name for its telecommunication products worldwide, and is widely accepted by Chinese customers. Management is optimistic that this merger will enhance the market position of TransAKT's new operations in China.
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This Sanyo distributor has built up a profitable sales channel in China with annual revenues of approximately US$15 million. TransAKT and the distributor in China are both happy to see this merger will successfully go through in the near future. TransAKT together with Sanyo, has projects including a Wi-Fi phone, a dual mode GSM/WIFI phone and VOIP ready multi-line cordless phone systems and we believe this partnership will benefit both companies.
TransAKT expects operations in China will be started by the end May 2007. Staff and engineers have already been sent to China and the legal process to register a new company in China is under way. China's buying power is increasing daily and its population of 1.3 billion will guarantee our move into this market is a wise decision for the company and management believes that China will become the main source of our company's future revenue income.
"I commit that the management team will take care of all investors' interests and do our best to make this company successful," says James Wu, Chairman of TransAKT.
About TransAKT
TransAKT Ltd. is a global Voice over Internet Protocol ("VoIP") hardware and network provider for commercial and residential users. The Company's global corporate management team is based in Calgary and Taipei. Taiwan Halee International Co. Ltd. ("HTT") is a wholly owned subsidiary of TransAKT Ltd. The Company trades in the U.S. as an OTCBB foreign corporation listed under the ticker TAKDF.
This press release contains certain forward-looking statements regarding the Company's beliefs about HTT and its sales prospects, and regarding TransAKT's ongoing ability to attract and acquire further complementary businesses. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including but not limited to, our limited operating history and history of losses, and our inability to compete effectively in the marketplace, and such other risks as identified in documents filed with the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Contact:
TransAKT Ltd.
James Wu, President, 403-290-1744
Christian Nielsen, 403-290-1744
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