HOWELL, Mich., May 29, 2012 /PRNewswire/ --MWW Automotive Group (OTCQB: MWWC), a global design, engineering, and manufacturing firm serving some of the world's leading automotive and industrial manufacturers, announced today that it has begun production of three key Mazda MX-5 Aero components for Mazda North America.
MWW will produce a front air dam kit, side sill kit and rear spoiler kit for the new Mazda MX-5 in its ISO and Mazda certified Class A manufacturing facility in Baroda, MI, for delivery to Mazda's North American, European and Asian Markets. First product shipments are expected during the week of June 11, 2012.
This is the first OE contract with Mazda for MWW, after its production facility has been certified by Mazda's engineering and management teams. MWW Automotive has been selected as a key supplier for this program, because it provides a service strategy with cost competitive pricing and on-time service part delivery, both during current and post-production periods, as required by Mazda's General Supplier Guide Lines. Over the last year MWW has expanded and customized its production lines according to the specific production requirements for these high quality OE direct programs. As a consequence the production of these special parts for Mazda falls squarely into MWW's core competency.
This is the second production start for a major manufacturer's program for the Company after the launch of the Ford Mustang program. MWW management believes that the second half of 2012 will begin to demonstrate the impact of the restructuring efforts of MWW's dedicated management team during 2011 and 2012 and will be reflected in improving financial performance with increasing revenues and net results expected during the second half of 2012 and all of 2013.
"While our Q2 financial results were disappointing to all of us, caused by additional and unexpected delays not only in our industrial, but also in some of our already awarded automotive programs, we have now finally begun production with several new projects and expect to improve our performance during the next two quarters and all of 2013. Based on our recent experience, we will inform about new projects at the time we are commencing with production. We will consider giving further guidance for future expectations, once we feel confident about the date lines for new projects already awarded and/or currently in development," states Chuck Pinkerton, CEO of MWW Automotive.
About MWW Automotive Group (MWW)
MWW's is headquartered in Howell, Michigan, with a "Class A" painting/assembly/logistics facility in Baroda, Michigan for the production of OE quality automotive and industrial products. The MWW Automotive Group (OTCQB: MWWC) delivers accessory products and Class A painting, assembly and logistics services directly to major global automobile manufacturers' Vehicle Processing Centers (VPC) and/or assembly lines in the United States, Canada and Europe. MWW's industrial products are delivered directly to the manufacturers for installation in their facilities. Noted for its adherence to the highest quality standards and its advanced logistics capabilities, MWW products and services consistently meet and exceed customers' expectations and requirements. MWW has and continues to provide substantial added value to the sale of vehicles and industrial products for leading international automobile and industrial manufacturers such as Toyota, BMW, Chevrolet, Hyundai, Kia Motors, GM, Ford, Mazda, Deere and Whirlpool. For more information please visit www.mwwautomotive.com or e-mail investorrelations@mwwautomotive.com.
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
