HOWELL, Mich., April 6, 2011 /PRNewswire/ -- MWW Automotive Group (OTCQB: MWWC), a global design, engineering, and manufacturing firm for automotive accessories and industrial equipment serving some of the world's leading automotive manufacturers, today announced that it has received a record number of Requests for Quotes (RFQs) from existing and newly acquired customers. The Company has submitted quotes that have the potential to generate up to $17 million in revenues to MWW over the next 12-36 months in addition to its currently running programs.
MWW is now beginning to see the impact of its aggressive restructuring efforts in management and production, resulting in a drastic expansion of its client roster. Over the past five months, MWW has attracted interest from new major automotive and industrial clients, in addition to servicing its ongoing customer programs. Production for the majority of its new programs is slated to begin in late 2011, early 2012 and should continue through 2013. These new programs are being executed either directly with select manufacturers, or in cooperation with MWW's Strategic Alliance Partners.
"From the beginning of my tenure at MWW, I have been concentrating on expanding our client and product roster, in order to further diversify our customer base and enter into new market segments," said Chuck Pinkerton, CEO of MWW. "We now have a widely diversified mixture of global and domestic clients and are entering into the industrial market segment, providing greater downside protection against major changes with specific manufacturers, market segments, or geographic sectors within the global automotive industry."
Mr. Pinkerton added, "The improved production capability in our Class A, OEM-quality painting facility allows us to satisfy the high-value, mid-sized production requirements of the global automotive and industrial manufacturing sector, which the large automated facilities cannot provide. Our mid-volume production capacity, in combination with our advanced logistics capabilities that satisfy our customers' 'just–in-time' inventory requirements, has enabled us to scale up our business, while at the same time lowering costs. We expect newly acquired business to impact our revenue generation positively in the second half of 2011 and well into 2013."
About MWW Automotive Group
Headquartered in Howell, Michigan, with a "Class A" painting/assembly facilities in Baroda, Michigan, MWW Automotive Group (OTCQB: MWWC) delivers its in-house designed accessory products and Class A painting and assembly services directly to major global automobile and/or their Vehicle Processing Centers (VPC) and assembly lines in the United States, Canada and Europe. The manufacturers and the VPCs install the MWW products in a variety of vehicle types that are delivered to them directly by the domestic and foreign automobile manufacturers for distribution and delivery into the dealer channels in North America. MWW's industrial products are delivered directly to the manufacturers for installation in their facilities. Noted for its adherence to the highest quality requirements and its advanced logistics capabilities, MWW products meet and exceed customers' expectations and requirements. MWW provides substantial added value to the sale of vehicles and industrial products for leading international automobile and industrial manufacturers such as Toyota, BMW, Hyundai, Kia Motors, GM, Ford, Deere and Whirlpool. For more information please visit www.mwwautomotive.com or e-mail [email protected].
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."
SOURCE MWW Automotive Group