LAS VEGAS, March 13, 2015 (GLOBE NEWSWIRE) -- TransAKT Ltd. (OTCQB:TAKD) ("TransAKT") today announced that its board of directors has appointed Mr. Ho Kang-Wing, an incumbent director, as chairman, president and chief executive officer, effective immediately. Mr. Ho succeeds James Wu who has stepped down as president and chief executive officer, and member of the board of directors, as part of a transition plan. Mr. Wu will support the transition in an advisory role.
Mr. Ho currently serves as the managing director of Guangdong Dongrong Metal Products Co., Ltd. ("Guangdong Dongrong Metal Products"). Mr. Ho has managed Guangdong Dongrong Metal Products for more than twenty years, and under his direction the company has achieved annual revenues in excess of USD$100,000,000. Mr. Ho has committed to help TransAKT to develop a market for Vegfab in China and other Asian countries. Mr. Ho has served on TransAKT's board of directors since July 2013.
Mr. Ho has a vision to build TransAKT into a worldwide leader in the advanced agricultural technology industry. In addition to growing vegetables using Vegfab's technology, Mr. Ho has organized a team of approximately 30 engineers to design an extended product mix that will include microbial fertilizers and organic animal feed.
"China is the largest consumer of agricultural products in the world, and our team brings many years of experience in successfully marketing products in China," explains Mr. Ho. "I am confident that our new management team will bring TransAKT to profitability in the near future."
"I am very pleased to welcome Mr. Eric Ho as the Chairman of TransAKT. I am confident that his solid growth path and experienced leadership will drive the development of the company into a world class provider of agricultural technology," said James Wu.
Departing from the Board and as officers of the Company and its subsidiaries effective immediately are Mr. James Wu, Ms. Taifen Day, Mr. Cheng Chun-Chih, and Dr. Shiau Tzong-Huei. The company sincerely thanks its departing officers and directors for their significant contributions and wishes them well in their future endeavors.
TransAKT is a manufacturer of highly innovative agricultural equipment used to grow a large variety of vegetables and fruit using simulated sunlight from LED lamps in a proprietary hydroponic system. In addition, TransAKT is a global distributor of LED lighting products focused on serving the fastest growing market of commercial, hospitality, and outdoor lighting. The Company's global corporate management team is based in Las Vegas, Hong Kong and Taipei. For more information about TransAKT please call 403-290-1744 or visit transaktltd.com.
This press release contains certain forward-looking statements and 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.