SOUTH SAN FRANCISCO, CA and SHANGHAI, CHINA–(MARKET WIRE)–Mar 18, 2009 — Worldwide Energy and Manufacturing USA, Inc. (OTC BB:WEMU.OB – News), a U.S.-based China manufacturing company specializing in products for customers in the industries of solar energy, aerospace, wireless telecommunications, medical equipment and automotive, today announced that its solar division, has a backlog of $52 million in solar module contracts. To date, Worldwide has signed approximately $90 million in new contracts, the majority of which are expected to be recorded during the 2009 calendar year.
Worldwide Energy’s Chief Executive Officer Jimmy Wang stated: “Our solar division continues to obtain new module contracts from new customers as well as existing customers demonstrating our ability to retain customers as well to gain new customers in the renewable energy market despite of the temporary downturn on the worldwide demand for renewable alternative energy consumption. We are very encouraged by the achievement we have made and anticipate another triple digit growth for our solar business this year. We will continue to expand our market share in the solar sector as we have become one of the fastest growing companies in the clean-tech industry.”
About Worldwide Energy and Manufacturing USA, Inc.
Worldwide Energy and Manufacturing USA, Inc. (“Worldwide”), headquartered in South San Francisco, California, is a 15-year-old engineering-oriented firm specializing in PV panel, mechanical, electronics and fiber optic products manufacturing. The company’s worldwide customer base includes the industries of solar energy, wireless telecommunications, aerospace, automobiles and medical equipment. Subsidiaries include: Worldwide Energy and Manufacturing Ningbo (Solar factory) Co., Ltd, Shanghai Intech Electro Mechanical Products Co. Ltd., Shanghai Intech Electronics Manufacturing Co. Ltd., Shanghai Intech Precision Mechanical Products Manufacturing Co. Ltd. And Shanghai Intech Electric and Electronics Co., Ltd., located in Shanghai and Ningbo, China.
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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.