An Update –
Transnational Automotive Group (OTCBB: TAMG)
Transnational Industries Cameroon (T.I.C. SA) is a company formed in partnership with the Cameroonian Government to establish and operate city bus systems in the major cities of Cameroon.
TAMG is making it happen. The buses have arrived and are rolling under the name: Le Bus. TIC, better known as ‘LeBus’ is currently undergoing its first phases of implementation and is building a solid partnership with the Government. It is focused on building a strong foundation upon which a sustainable company will emerge.
Beyond LeBus, TIC has significant capital investment planned for Cameroon and is currently completing its planning for a bright future in Cameroon. It is first going to establish the bus operations in Yaoundé followed by a planned expansion into Douala. Recently a poem was written by Fred Melow that best desribes the meaning of LeBus to Cameroonians:
For Le Bus
Here stands
The metallic and moral remains
Of a lost dream
These pieces of metals
Once held the hope and pride
Of a people, a nation, a region.
Today grounded and rusted by time,
And greed and crime
Jobs and smiles lost
Families once fed by these wasted metals
Stare on, faces distorted by the tears of fear
And the fear of tears.
Starving, wasting and waiting in cold abandon
For a late and uncertain tomorrow.A statement of hope, trust and effort is being made.
A new door is opening
A new door open
The people will smile again
Come on with a coin
Share a smile, make friends.
Hope is on again
On fait comme ca
Le Bus, the answer.This poem is going to be inscribed on a plaque that will adorn a monument at the depot.
Two months after operating the Urban Transport company, Le Bus in Yaounde, the Transnational Automotive Group-TAUG has launched yet another company, Le Car which will transport inter-city commuters. Speaking to the press ahead of an inaugural ride to Douala and Limbe last Friday at the headquarters of the company in Yaounde, TAUG’s president of Africa Operations, Don Durand said Le Car has come to subsidies Le Bus which is more of a social service. He said investors in the US were watching the progress of the project and its success will attract more American investment to Cameroon. For a start, Le Car will be plying only the Douala-Yaounde highway and will eventually extend to the other towns in the country.
The General Manager of Le Car, Cyrille Tollo announced that the company will be recruiting some 4000 Cameroonians by the time the project enters full gear. However, 350 people will be recruited in the days ahead including drivers, hostesses and other agency workers. Le Car he said, is banking on security and comfort as its comparative advantage in the saturated market of inter-urban transportation in Cameroon. The buses are air-conditioned and every seat has a safety belt. The commuter can also move his chair backwards or sideways to create more space in case the neighbor is a very bulky person. For the cost of FCFA 6000 or 11.000 for a to and fro ticket, the client is offered sandwich, mineral or a soft drink and first aid services in case of any emergency. To ease the strain of the journey, passengers can listen to music or watch a video. To control over speeding and determine the position of the vehicle, Le Car buses are equipped with a GPS tracking system. For now, the bus stops will be at the Hilton Hotel in Yaounde and Sawa hotel in Douala.
As concerns the urban transport sector, the General Manager of Le Bus disclosed that the company will be extending its services in Yaounde with the expected arrival of some 60 new buses by the end of February 2007. He also disclosed that studies were underway to start operating in Douala.
“We are trying to transform the transport sector in Cameroon and the sub-region,” said Nfinyo Mabu, vice president of TAUG-Cameroon in charge of business development. “Our objective is to become leader by offering quality services at competitive prices,” he added.
Source: Transnational Auto Group and Comtex
About TAUG Transnational Automotive Group, Inc. (”TAUG”), a Nevada corporation that trades under the symbol OTCBB:TAMG, is a transportation and sustainable energy company headquartered in Los Angeles, CA, with operating entities in Cameroon and early-stage operations in Ethiopia, Nigeria and Mozambique. TAUG ( http://www.transauto-group.com ) is currently engaged in establishing and operating mass transit systems in leading African leading commercial and population centers, beginning in Yaounde and Douala, Cameroon. The company is also positioning itself for expansion into additional African markets (including Ethopia and Nigeria) and industry sectors – including manufacturing and marketing sustainable bio-diesel fuels. TAUG’s vision is to become the leading transportation and sustainable energy company on the African continent, and to establish key infrastructure and workforce development that dramatically accelerates Africa’s economy and quality of life.
For more information on King Long United Automotive Industry (Suzhou) Co., Ltd. please visit http://www.kinglong-sz.com.cn/en .
This news release contains certain “Forward-Looking Statement” within the meaning of Section 21E of the United States Security Exchange Act of 1934. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents files from time to time with the Securities Exchange Commission.
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