Detroit, Michigan Mar 31, 2019 (Issuewire.com) - TOKEN COMMUNITIES LTD (OTC Pink: TKCM)
The Company is pleased to announce the acquisition of ABT Automotive Investments Limited, that holds 50.01 % of Sakthi Global Auto Holdings Limited, a private company engages in Automotive manufacturing Sector and that the founder and Chairman of Sakthi Global Auto Holdings, Manickam Mahalingam has been appointed as Chairman of Token Communities Ltd effective immediately, Lalit Verma, CEO, of Sakthi Global Auto has been appointed as the CEO of Token Communities Ltd
Mr. Manickam has been instrumental in developing the USD 1bn+ conglomerate. In addition to spearheading the development of the automotive segment, he has also been pivotal to establishing multiple educational institutions. He has received several international awards for leadership and outstanding contributions in the automotive industry and holds an MA from Madras University and an MBA from the University of Michigan.
Mr. Verma is the CEO of Sakthi Automotive Group. He has previous experience working in several countries including India, Japan, China, Korea, and the US. He has a background from the supply chain and global purchasing at OEMs like GM, Honda, and Bombardier. He has a BE from Delhi College of Engineering and an MBA from Institute of Management Technology in Ghaziabad, India
Peter Maddocks, President of TKMC, stated we are very pleased to welcome Manickam Mahalingam as Chairman and Lalit Verma as CEO and as new members of the board of Directors of Token Communities Limited, we are delighted to have secured the acquisition of 100 % ABT AutomotiveInvestments Limited, that holds 50.01 % of Sakthi Global Auto Holdings Limited. The acquisition has been achieved via an all-stock purchase of the ABT shareholding in exchange for newly issued shares of TKCM, issued at $1.00 per share in full satisfaction of the purchase consideration.
About ABT Auto Investments Limited and Sakthi Global Auto:
ABT Auto Investments Ltd. is a majority holding company of Sakthi Automotive Group is a leading global tier 1 automotive supplier that designs, engineers and manufactures systems and technologies that are making the next generation of vehicles, lighter, safer and more efficient. Headquartered in London, Sakthi Automotive Group has over 5,000 employees operating at 6 manufacturing facilities in 5 countries including, USA, China, Germany, Portugal, and India to support our customers on global and regional platforms with a focus on quality, operational excellence and technology leadership. Sakthi Automotive Group is a global leading manufacturer of Safety Chassis and Powertrain Components into Aluminium and Iron supplying to all major OEM’s including General Motors, Ford Motors, Volkswagen, Daimler, PSA, Volvo, Toyota, Renault-Nissan, BMW, Volvo, and many others.
Sakthi Automotive Group global revenue is projected at approximately $500 Million USD and average growth is over 20% YoY., based on current booked business Sakthi Automotive Group will achieve over $1 Billion USD revenue by 2023.
Our commitment goes beyond simply making and delivering products. We deliver operational excellence by leveraging our global standards, policies and best practices across all disciplines. We recruit and retain world-class, creative and innovative associates who thrive when thinking outside of the box. We invest in state-of-the-art technology to elevate and strengthen our research, development and validation capabilities. We are dedicated to changing the way the world moves by designing, engineering and manufacturing technologies that make the automotive industry lighter, safer, more efficient and more powerful.
About Token Communities:
Token Communities Limited is a Delaware Corporation traded on OTC Markets “Pink Sheets. As TKCM, with an international client base and global reach is focused on the Fintech, AI (Artificial Intelligence) and other associated sectors. Currently, TKCM is focusing on the creation, funding, and management of high-quality innovation in modern blockchain and Cryptocurrency technology. Token Communities Ltd intends in future focus its efforts as a Global holding company for Automotive parts manufacturing entities that it has recently acquired and it intends to make further acquisitions in this sect
Safe Harbour
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Token Communities Limited., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "May," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Token Communities Limited’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in filings and disclosure statements with the OTC Markets.
Contact:
For further information please contact:
Token Communities Limited.
Kumar@sakthiauto.com
Visit; www.abtinvestments.com and www.sakthigroup.com
Public Relations and Shareholder Information
Lalit Verma Tel 248-778-6553
E mail kumar@sakthiauto.com , Chief ExecutiveOfficer
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Media Contact
ABT Auto Investments Ltd *****@me.com 2487786553 kumar@sakthiauto.com http://www.abtautoinvestments.com
