As the midweek trading continues, there are some companies that are going to get considerable traction from investors, and one of those could be TGI Solar Power Group Inc. (OTC:TSPG). The company was in sharp focus yesterday after it made an announcement with regards to a key new acquisition. It may be a good time to take a closer look.
Letter of Intent Signed
On Wednesday the company announced that it had inked a Letter of Intent (LOI) with regards to the potential acquisition of a 25% stake in Green Industries of Florida LLC. As per the provisions of the agreement, the company’s management would change the name of the acquisition target to ECOPLUS CORP and change the LLC to a corporate structure. In the news release, the company noted that the strategic partnership would enable TGI Solar Power Group to make a move into the sustainable waste management space.
Further Information
It was also noted that Green Industries is dedicated to the development of sustainable solutions and would have its own crucial role in the collaboration. The process of tire pyrolysis would enable the transformation of used tires into a valuable resource, the company noted in relation to the potential collaboration between the two firms.
