12 November 2009 (PublicWire) — MWW Automotive Group (OTCBB: MWWC), a global automotive firm providing design services and designing and manufacturing accessories for many of the world’s leading automotive manufacturers, today presented shareholders with a strong, positive summary of the Company’s many recent achievements in a detailed shareholder letter. The full text of the shareholder letter can be reviewed on the company’s web site at www.mwwautomotive.com in the section “Investor Relations”; subsection “Press Releases.”
The letter cites impressive sales increases for the past six months, and forecasts growth exceeding previous company expectations, based on substantial numbers of contracts with major customers, current and new.
Moreover, despite the downturn that the global automotive industry has experienced during the last twelve (12) months, MWW Automotive continues to report improving operational and financial results, including an increase in Third and Fourth Quarter revenue, and an improvement of the bottom line. In the letter, management attributes these achievements in part to the newly emerging trend of more frequent smaller “Special Vehicle” production runs of the large automotive manufacturers, which fall squarely within MWW’s competence and generate a larger market for the Company. As a result, all MWW Automotive Group companies have added new major customers, established new distribution channels in Europe and Mexico and continue to aggressively expand the customer base and product line.
This trend is supported by the improving market conditions in the general auto industry, the letter states. German auto sales have risen 24% in October, GM posts a 5% gain and Ford has posted a profit for nearly $1 billion for the third quarter of 2009. US auto sales have risen for the first time since 2007 and are predicted to rise by fifteen (15%) in 2010, according to J.D. Powers.
MWW sales have now increased for six consecutive months in a row, including in September 2009. Major automobile and supplier stocks have seen a notable rise and analysts are slowly beginning to anticipate a sustainable upward trend. MWW stock is beginning to show some volume and tightening of the spread; planned investor relations activities are expected to improve and expedite that trend.
“This upward trend is evidenced in our own financial performance, which improved notably again in the Third and Fourth Quarter of our fiscal year 2009 (FY September 30), and we expect this improvement to accelerate during 2010,” Michael Winzkowski, Chief Executive Officer of the MWW Group, stated.
— Revenue for the 3rd quarter rose 61%.
— The Company’s operating loss improved by 51% for the 3rd quarter over
the 2nd quarter of 2009.
— August 2009 sales rose 24% over July 2009 sales.
— September sales rose 10% over August sales.
— Fourth Quarter sales increased 48% over Third Quarter sales.
— Annual sales are expected to slightly surpass recent projections.
Furthermore, MWW has generated a large number of new opportunities during the last twelve months:
— All companies in the MWW Group currently have more Requests for Quotes
(RFQs) and new projects in different stages of development and production
than at any other time in our history and orders and forecasts from our
large global customers are improving.
— A wide range of newly developed products and the newly established
distribution channels in Europe, the US and South America will further
improve the company’s performance in the months and years to come.
Mr. James Marvin, COO of MWW Automotive, stated: “The changing market conditions are generating excellent new opportunities for the MWW Group, and we are well positioned for continued strong growth. All companies of the MWW Group, in both the US and Europe, are currently in negotiations with a number of important new customers for new programs for mid- and long-term execution, and new distribution channels have been established. We are looking forward to aggressively taking advantage of these opportunities in the months and years to come. MWW is not only participating in the general recovery of the industry, but is clearly surpassing average sales growth for the industry and accelerating the improvement of its financial performance with increasing revenues for the last six consecutive months.”
Please read the full text of the shareholder letter on the Company’s web site (www.mwwautomotive.com) for a complete overview of our accomplishments during 2009 and the opportunities that lie ahead.
About MWW Automotive Group
Headquartered in Howell, Michigan, with Class A painting facilities in Baroda, Michigan (Colortek, Inc.) and design and assembly facilities in Munich, Germany (Modelworxx GmbH), MWW Automotive Group (OTCBB: MWWC) delivers its products, design and Class A painting services directly to select global automobile manufacturers’ vehicle processing centers, distribution centers and/or assembly lines in the United States, Canada and Europe. The customers’ technical teams install the MWW designed and manufactured products in a variety of vehicle types and deliver the accessorized automobiles into the dealer channels in their respective countries. The company’s mission is to manifest its position as a truly global automotive company and to fully utilize its combined US and European design and manufacturing resources to consistently provide the most innovative and leading edge automotive accessories for an increasingly demanding global market. Noted for its adherence to the highest quality requirements, MWW and its global subsidiaries provide substantial added value to the sale of vehicles for leading international automobile manufacturers such as Toyota, BMW, Hyundai, Kia Motors, GM and Ford in the US and Europe. The Company also provides proprietary design services directly to BMW from within the BMW design facility in Munich, Germany. For more information please visit www.mwwautomotive.com and www.modelworxx.com or e-mail firstname.lastname@example.org.
Safe Harbor Statement
Certain statements in this press release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use words such as “anticipate,” “believe,” “expect,” “future,” “may,” “will,” “would,” “should,” “plan,” “projected,” “intend,” and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. The Company’s future operating results are dependent upon many factors, including but not limited to the Company’s ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company’s control; and (iv) other risk factors discussed in the Company’s periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under “Search for Company Filings.”
Consulting For Strategic Growth1, Ltd. (“CFSG1”) provides Marketing Worldwide Corporation with consulting, business advisory, investor relations, public relations and corporate development services. Independent of CFSG1’s receipt of cash compensation from MWW, CFSG1 may choose to purchase the Company’s common stock and thereafter liquidate those securities at any time it deems appropriate to do so.
Contact MWW Automotive
Tel: 1-517-540-0045, x43
Email: Email Contact
Investor Relations & PR
Consulting for Strategic Growth 1
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