Tuesday April 22, 1:16 pm ET
SAN BRUNO, CA and SHANGHAI, CHINA--(MARKET WIRE)--Apr 22, 2008 -- Worldwide Energy and Manufacturing USA, Inc. (OTC BB: WEMU.OB), a U.S.-based China manufacturing company for customers in the industries of aerospace, wireless telecommunications, medical equipment, automobiles and solar energy, today announced that Worldwide's wholly owned air-condition factory that makes units for small trucks will close in May 2008. Revenues for Chengde were $267,000 for December 31, 2007 with no profit.
Management decided to close the factory in order to focus on its new business of solar modules.
"As a company we decided to close the factory due to declining revenues and profit and focus on our core strengths and new business opportunities in the solar module industry," said Jimmy Wang, CEO of Worldwide Energy and Manufacturing USA, Inc.
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 http://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.
Forward-Looking Statements:
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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