SOUTH SAN FRANCISCO, CA and SHANGHAI, CHINA -- (MARKET WIRE) -- 05/18/09 --
Worldwide
Energy and Manufacturing USA, Inc. (OTCBB: WEMU), 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 Bank of the West has
extended the company's working capital line of credit and has provided an
additional line of $3 million to help finance the company's growing solar
order contracts and business.
Worldwide Energy's Chief Executive Officer Jimmy Wang stated: "This
additional line of credit provides us with the capital needed to help
finance our growing solar division. Bank of the West has worked closely
with us to make sure our financial needs are being met."
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 photovoltaic (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.
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.
About Bank of The West
Founded in 1874, $66 billion-asset Bank of the West (www.bankofthewest.com)
offers a full range of business, corporate, personal, trust and
international banking services and currently operates more than 700 branch
locations and commercial banking offices in 19 Western and Midwestern
states. Bank of the West's holding company, BancWest Corporation, is a
subsidiary of BNP Paribas, among the six strongest banks in the world,
according to Standard & Poor's.
Forward-looking statements:
The above news release contains forward-looking statements. The statements
contained in this document that are not statements of historical fact,
including but not limited to, statements identified by the use of terms
such as "anticipate," "appear," "believe," "could," "estimate," "expect,"
"hope," "indicate," "intend," "likely," "may," "might," "plan,"
"potential," "project," "seek," "should," "will," "would," and other
variations or negative expressions of these terms, including statements
related to expected market trends and the Company's performance, are all
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 and involve a number of risks and
uncertainties. 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 external factors,
uncertainties, business risks, and other risks identified in filings made
by the company with the Securities and Exchange Commission. Actual results
may differ materially from those indicated by such forward-looking
statements. The Company expressly disclaims any obligation or undertaking
to update or revise any forward-looking statement contained herein to
reflect any change in the company's expectations with regard thereto or any
change in events, conditions or circumstances upon which any statement is
based.
Contact:
At the company:
Worldwide Energy and Manufacturing USA, Inc.
Jimmy Wang
650-794-9888, Ext. 221
jimmyw@wwmusa.comhttp://www.wwmusa.com
Investor relations:
Dave Gentry
RedChip Companies, Inc.
1-800-REDCHIP (733-2447), Ext. 104
Dave@redchip.comhttp://www.RedChip.com