Worldwide Manufacturing USA, Inc. Announces $1.6 Million Purchase Order
SAN BRUNO, Calif., March 29 -- Worldwide Manufacturing USA, Inc. ("Worldwide") (BULLETIN BOARD: WMFG) today announced that it has received a purchase order for 5,000 air-conditioning units for cars from Automobile group Harbin Light Duty Vehicles Factory located in China. The contract is worth over one million six hundred thousand dollars and extends through June 30, 2005. This increase total orders for Chengde to $4.6 million dollars. The air-conditioning units will be manufactured at Worldwide's newly acquired factory, Chengde Science & Technology Co., Ltd., ("Chengde"). Jimmy Wang, CEO of Worldwide, stated, "We are receiving some large orders for air-conditioning units and we are expecting this trend to continue. He added "We plan to invest over one million in working capital at our new factory during the next year to handle the increase in demand."
Worldwide is headquartered in San Bruno, California, and its two wholly owned subsidiaries, Shanghai Intech Electro Mechanical Products and Chengde Science & Technology Co., Ltd., located in Shanghai, China and Changchun City, China, respectively. Worldwide is an 8 year old engineering firm specializing in international contract manufacturing and is a direct manufacturer of air-conditioning units for cars. Its customers include the industries of wireless telecommunications, aerospace, automotive, machinery, tools, home electrical, electronics, toys, etc.
The above news release contains forward-looking statements. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of business risks, external factors and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements. The Company assumes no obligation to update the information contained in this press release, whether as a result of new information, future events, or otherwise.