Monday March 24, 9:30 am ET
Worldwide's New Vendor Contract With Shanghai GM Is Estimated at US$2.2 million Annually
SAN BRUNO, CA and SHANGHAI, CHINA--(MARKET WIRE)--Mar 24, 2008 -- Worldwide Energy and Manufacturing USA Inc. (OTC BB: WEMU.OB), a U.S.-based China manufacturer for customers in the industries of aerospace, wireless telecommunications, medical equipment, automobiles and solar energy, today announced that its Shanghai die-casting factory and wholly owned subsidiary, Shanghai Intech Precision Mechanical Products Manufacturing Co. Ltd., has become a qualified vendor of Shanghai General Motors ("GM").
In March 2008, the die-casting factory began producing a number of General Motors' automobile parts on a monthly basis, including 20,000 sets of base brackets; 20,000 sets of offset bushes; 50,000 sets of water pumps; and 20,000 sets of oil pumps.
In terms of U.S. dollars and using a March 18, 2008 exchange rate, the shipping volume is valued at $183,356.84 per month or $2.2 million annually. Shanghai GM is one of the largest vehicle manufacturers in China and GM is the seventh Fortune 500 customer recently obtained by Worldwide Energy.
About Worldwide Energy and Manufacturing USA, Inc.
Worldwide Energy and Manufacturing USA, Inc. ("Worldwide"), headquartered in San Bruno, California, is a 14-year-old engineering-oriented firm specializing in international contract manufacturing for solar modules, electronics, mechanical and fiber optic products. Worldwide is also a direct manufacturer of automobile air-conditioning units, die-casting and electronics components. The company's worldwide customer base includes the industries of wireless telecommunications, aerospace, automobiles and medical equipment. Worldwide also manufactures components for the following industries: instrumentation, machinery, tools, home electrical solutions and electronic parts (such as electronic toys) and energy. Subsidiaries include Shanghai Intech Electro Mechanical Products Co. Ltd., Chengde Science & Technology Co. Ltd., Shanghai Intech Electronics Manufacturing Co. Ltd. and Shanghai Intech Precision Mechanical Products Manufacturing Co. Ltd., located in Shanghai and Changchun City, China.
For further information on Worldwide Energy and Manufacturing USA, Inc., please visit www.wwmusa.com. You may register to receive Worldwide Energy and Manufacturing USA, Inc.'s future press releases or request to be added to the Company's distribution list by contacting John Ballard.
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.
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100, Orlando, FL 32751,
(800) 733-2447,Fax: (407) 644-0758,
info@redchip.com .
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