WM GreenTech Automotive Acquires Advanced Composite Technology Inc.

MCLEAN, Va., April 9, 2014 /PRNewswire/ -- GreenTech Automotive Corp (GTA), a Virginia-based wholly owned subsidiary of WM GreenTech Automotive Corp. (WMGTA), today announced the recent acquisition of Advanced Composite Technology Inc. (ACT), an innovative materials product development and manufacturing company based in Detroit, Michigan. ACT's innovative technology will be incorporated into GTA's environmentally friendly, energy-efficient vehicles.

"As we welcome ACT into the WMGTA group of companies, we believe that their expertise in advanced, lightweight, high-strength composite material will greatly contribute toward our automotive design through extended driving range, improved battery performance, and more appealing body style for our electric vehicles," said Charles Wang, WMGTA president and CEO. "This material will also strengthen our combustion-engine vehicle by reducing the carbon footprint and drag coefficient, and increasing fuel economy and performance."

"As part of WMGTA's continued global expansion, the acquisition of ACT will accelerate our business growth through strategic product integration while offering WMGTA a new supplier channel to both ourselves and to other existing OEMs globally," Wang said.

Founded by former Boeing and U.S. Marine Corps engineers, ACT has established a reputation for developing and integrating its lightweight, high-strength carbon fiber, thermoplastics and thermosets into automotive products with enhanced appearance, performance and safety. ACT's capabilities are comprised of raw material development, design, prototyping, process development, manufacturing and repair of componentry designed to meet the specifics of Tier 1, world-class automotive manufactures such as General Motors, Ford and Chrysler. ACT has built its reputation on a foundation of unmatched expertise in the production of successful applications specialized for aviation, space, marine and performance racing.

"Our unwavering goal is to make available to our customers products and technical support that together will reduce OEMs' overall costs and improve the quality of their products," said Gilbert Villarreal, founder of ACT.

United by a shared business vision and common business culture, a new alliance between WMGTA and ACT now make WMGTA the global forerunner in producing lightweight, high-strength carbon fiber and advanced composite components for the global market, enhancing the company's future growth and performance.

About WM GreenTech Automotive Corp.

WM GreenTech Automotive (WMGTA) is a US-based automobile manufacturer. The WMGTA brand is divided into two distinct and exciting divisions. The WM division manufactures and distributes energy-efficient super sports cars with internal combustion engines. The GTA division is dedicated to developing and producing environmentally friendly, energy-efficient electric vehicles. Currently the GTA brand products are being manufactured by WMGTA's wholly owned subsidiary GreenTech Automotive Inc. in Mississippi.

SOURCE GreenTech Automotive Corp