Worldwide Manufacturing USA, Inc. Announces 1:15 Reverse Stock Split
SAN BRUNO, Calif. and SHANGHAI, China, April 20 -- Worldwide Manufacturing USA, Inc. ("Worldwide") (BULLETIN BOARD: WMFG) (www.wwmusa.com), an engineering, direct manufacturer of die casting, stamping, electronics fabrication and air-conditioning units for automobiles, today announced a 1:15 reverse stock split approved by the shareholders in a Special Meeting held on Wednesday, April 19, 2006. The effective date of the split will be Friday, April 21, 2006. Prior to the reverse split there were approximately 30,337,500 shares outstanding; after the split there will be approximately 2,022,500 shares outstanding. The new stock symbol will be "WWMU" and will continue to trade on the OTC Bulletin Board. John Ballard, Chief Financial Officer of Worldwide, commented, "The purpose of the split is to assist us in our goal of being listed on a major exchange by year-end and will further assist us in the development and growth of the Company."
The Company recorded record revenues and profit for 2005 and anticipates 2006 to significantly exceed 2005 results.
About Worldwide Manufacturing USA, Inc.
Worldwide Manufacturing USA, Inc. ("Worldwide") is headquartered in the Silicon Valley, California, with four wholly-owned subsidiaries, Shanghai Intech Electro Mechanical Products, Chengde Science & Technology Co., Ltd., Shanghai Intech Electronics Manufacturing Co., Ltd and Shanghai Intech Precision Mechanical Products Manufacturing Co., Ltd., are located in Shanghai and Changchun City, China. Worldwide is a 12-year-old engineering-oriented firm specializing in international contract manufacturing and is also a direct manufacturer of automobile air-conditioning units, die casting, machining and electronics components. Its customers include the industries of wireless telecommunications, aerospace and automobiles and medical equipment. Worldwide also manufactures components for industries of machinery, tools, home electrical solutions and electronic parts such as electronic toys.
For further information on Worldwide Manufacturing USA, Inc., please visit www.wwmusa.com. You may register to receive Worldwide Manufacturing USA, Inc.'s future press releases and to be added to the Company's distribution list by contacting Alan Stone & Company, LLC.
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.