MWW Automotive Issues 2010 Year-in-Review Letter to Shareholders

HOWELL, Mich., Jan. 11, 2011 /PRNewswire/ -- MWW Automotive Group (OTC Bulletin Board:MWWC), a global automotive firm providing design and engineering services and manufacturing of accessories to many of the world's leading automotive manufacturers, issued today an annual letter to shareholders from its newly appointed CEO of the Company Chuck Pinkerton. The full text of the shareholder letter can also be reviewed on the Company's web site at www.mwwautomotive.com in the section "Investor Relations"; under subsection "Press Releases."

Dear Fellow Shareholders:

As the new CEO of MWW Automotive, I am pleased to present to you today a 2010 year-end review of MWWC's business and discuss some of those achievements that are positioning us for an exciting and prosperous 2011. During the last year, MWWC has met the challenges of 2010 head-on. I believe we have been able to not only solidify, but improve our position within the automotive marketplace. We have been successful in improving our financial performance by implementing dynamic structural, managerial and operational changes, during a time when many competitors have fallen victim to the largest and most drastic downturn in the automotive industry in decades.

Highlights of some of MWWC's achievements and changes in 2010 show our improving business model, including:

• We have streamlined our organizational and structural processes at our headquarters in Howell and instituted "Best-In-Class" production improvements to our ISO Certified "Class A" painting facility in Baroda, resulting in further enhancements to our product quality and increasing our production capacity.

• Jim Davis, who joined the company in early 2010, will continue in his position as the CFO; Michael Winzkowski has moved to the position of President & Chairman; and Rainer Poertner will continue to head up our Investor Relations and Investment Banking Relationships.

• In 2010, MWWC has received and submitted more Requests for Quotes (RFQs) for a wider range of projects from new customers than at any other time.

• MWWC has generated new business from newly emerging demand for smaller, but more frequent production runs, from large Original Equipment Manufacturer (OEMs) customers. Their large, automated and fully robotic production facilities cannot economically fill this trend, while MWWC is squarely positioned to do so.

• Orders and forecasts from our large global customers are increasing, and our customer base is rapidly diversifying beyond our established customers.

• Based on expanding production volume, MWWC will add a second shift in its painting facility. Accordingly, MWWC will be moving a large segment of its manufacturing and fulfillment program currently being executed in its headquarters in Howell, to its 40,000 square foot Baroda facility. This move will not only result in lower overhead and subsequently improved margins, but will also increase our production effectiveness and perfect the timing on deliverables to our clients with "just-in-time inventory."

• In order to better control our fixed and overhead costs, and focus on our core business in the United States, MWWC has decided to discontinue its German design operation.

• MWWC expects to report stronger year-over-year operational and financial results, the full details of which will be released in our annual report to be filed with the SEC on or before January 15, 2011.  

Our internal growth trend beginning in 2010 is being supported by the improving general market conditions in the automotive industry. After falling to a 27-year low to 10.4 million units in 2009, U.S. light vehicle sales rose to their highest level of the year in the month of December 2010, up 11% from December 2009, and closing out 2010 at a total of 11.6 million units. December's seasonally adjusted annual sales rate of 12.6%, as measured by Autodata Corp., is yet another positive indicator that U.S. automotive market is steadily rebounding. Major automobile and automotive supplier stocks have seen a notable rise and analysts are slowly beginning to anticipate a sustainable upward trend and strong ROIs on automotive stocks. MWWC's stock has been trading on higher volume and tightening of the spread; our planned investor relations activities for 2011 are expected to keep up this momentum and enhance shareholder value during the New Year.

Accordingly, we see our financial strength and stock value returning and we believe that we are on track to achieve our goals for significantly improved projections for 2011 and 2012. The changing market conditions are generating excellent new opportunities for MWWC and we are now well positioned for continued growth and improved deliverables to our client partners.  While concentrating on providing the very best in products, quality and service to our current client base, MWWC has also been successful in acquiring new customers and is currently in negotiations with several customers for new programs for mid- and long-term execution. We are continuing to establish additional distribution channels worldwide and have entered into new strategic alliances with several strong and well-established vendor partners.

While the global automotive industry has been and will continue to be the core competency and driving force behind the success of MWWC, we have begun an aggressive campaign of diversification into the general commercial marketplace. We are currently reviewing and have already commenced production with programs serving the industrial arenas. We are looking forward to aggressively taking advantage of these new opportunities in the months and years ahead. MWWC is not only participating in the general recovery of the industry, but with the timely availability of the appropriate funds, will be on a path to surpassing average sales growth for the industry and accelerating the improvement of its financial performance.

In cooperation with our new Marketing Awareness and Investor Relations program, we are looking forward to keeping you informed about the progress of the Company on a regular basis. In the interim, I would encourage you to visit our website www.mwwautomotive.com for future updates. As always, thank you for continued interest and support in MWWC.

Sincerely,

Chuck Pinkerton

CEO of MWW Automotive Group

About MWW Automotive Group

Headquartered in Howell, Michigan, with a "Class A" painting facilities in Baroda, Michigan (Colortek, Inc.) MWW Automotive Group  (OTCBB:MWWC) delivers its products, design and Class A painting services directly to select global automobile manufacturers' vehicle processing centers (VPC), distribution centers and/or assembly lines in the United States, Canada and Europe. The VPC's technical teams install the MWW designed and manufactured products in a variety of vehicle types that are channeled through them by the manufacturer for distribution, and deliver the accessorized automobiles into the dealer channels in their respective countries. The company's mission is to manifest its position as a truly global automotive company and to fully utilize its combined design and manufacturing resources to consistently provide the most innovative, leading edge and high quality automotive accessories for an increasingly demanding global market. Noted for its adherence to the highest quality requirements, MWW products are designed and manufactured to meet and exceed customers' expectations and requirements. MWW provides substantial added value to the sale of vehicles for leading international automobile manufacturers such as Toyota, BMW, Hyundai, Kia Motors, GM and Ford. 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."

twitter.com/rainerpoertner

www.mwwautomotive.com

SOURCE MWW Automotive Group

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED