Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--Nov. 5, 2004--
Tango Incorporated (OTCBB:TNGO) is pleased to announce
that its Board of Directors have approved management's request to
provide notice to the Company's current landlord in Portland to
exercise the Tango Pacific's option to purchase its facility in
Gresham, Oregon. The estimated purchase price is approximately
$3,0000,000 USD.
"We feel that this is a key move for the Company financially,
because we expect to save approximately $350,000 over the course of
the current lease. We want to modernize the current facility to add
additional racking and use the new computer system to automate our
inventory tracking to be more precise. In addition the acquisition of
real estate for Tango is a good move for where we want to take the
Company," said Sameer Hirji, CEO.
About Tango
Tango Incorporated is a leading garment manufacturing and
distribution company, with a goal of becoming a dominant leader in the
industry. Tango pursues opportunities, both domestically and
internationally. Tango provides major branded apparel the ability to
produce the highest quality merchandise, while protecting the
integrity of their brand. Tango serves as a trusted ally, providing
them with quality production and on-time delivery, with maximum
efficiency and reliability. Tango becomes a business partner by
providing economic solutions for development of their brand. Tango
provides a work environment that is rewarding to its employees and at
the same time has an aggressive plan for growth. Tango is currently
producing for many major brands, including Nike, Nike Jordan and
RocaWear.
For more information visit: www.tangopacific.com .
Safe Harbor:
This news release does contain forward-looking information within
the meaning of section 27A of the Securities Act of 1933 and section
21E of the Securities Exchange Act of 1934 and is subject to the Safe
Harbor created by those sections. This news release will make
statements about expected future events and/or financial results that
are forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements involve risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Tango Incorporated to be materially different from the
future results, performance or achievements expressed or implied by
such forward-looking statements. There is no assurance that Tango
Incorporated will not default on its agreements and any default could
have a potential impact on the value of the company. Other risks
include the small size of Tango Incorporated as compared to many of
its competitors, the need for additional capital, dependence on key
personnel, Tango Incorporated's ability to win additional contracts,
risk associated with the fashion industry, commodity risk, employment
standards risk, the effect of new laws or regulations relating to the
business of Tango Incorporated, and economic conditions.
KEYWORD: NORTH AMERICA OREGON UNITED STATES
INDUSTRY KEYWORD: MANUFACTURING TEXTILES
SOURCE: Tango Incorporated
CONTACT INFORMATION:
Tango Incorporated
Sameer Hirji, 403-228-6962
sameer@tangopacific.com
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'wid ma mind on ma money an' ma money on ma MIND!!!!!!!
Do Da Due!!!
RUFF!!!
Dog