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MWW Automotive - Letter to Shareholders
New York , September 15, 2008 - MWW Automotive
Dear Shareholders:
As we have just concluded another quarter, we would like to take this opportunity to recap some of the events of the past year and also provide an outlook of things to come in 2008 and 2009. 2007 and 2008 have both been very exciting and important years for MWW in many aspects of the company’s development. The company has been preparing for expanded and accelerated growth through capturing new and fast growing global markets and executing synergetic acquisitions, while reaching several crucial milestones as well.
As we had laid out in our original business plan, we expanded our core business with the development of several new programs for our existing Toyota customers that will run through 2013, added several new automobile manufacturers to our client roster, and embarked on the task of improving the company’s vertical integration on the manufacturing and sales side via carefully selected and thoroughly researched acquisitions. We have executed our acquisitions of Colortek Inc., a “Class A” painting facility in Baroda, Michigan, commenced business with a second “Class A” painting facility for oversized components and RVs in Elkhart, Indiana, and have also acquired Modelworxx (MWX), a leading edge design and engineering firm located in Munich, Germany. MWX provides a design team for the development of new BMW automobiles in the BMW design facility in Munich and has been involved in the design of new BMW models for the last five years. In a second facility, MWX also designs and markets leading-edge accessories for the European and North American automobile market. In the US we have also signed an agreement for a strategic alliance with American Autocoat, a large Tier 1 manufacturer for several of the largest US automobile manufacturers.
While most of this activity is currently only partially reflected in our year-end financial performance for 2007 (FY September 2007) and our latest quarter ending June 30, 2008, we expect the building blocks that we have put together in 2007 and 2008 to bear fruit moving forward and substantially contribute to our 2009 results.
The groundwork we laid in 2007 and 2008 will accelerate the transition of MWW Automotive into a global company with the critical mass and financial performance that should produce a favorable ROI for our shareholders. We look forward to moving ahead in 2009 and updating our shareholders on our expected achievements.
MWW Automotive Moving Ahead
A Global Company in a Global Market
To succeed in today’s global automotive market, companies have to be truly “global” to take advantage of fast growing international markets. With the acquisition of MWX in Munich Germany, MWW has begun establishing itself as a true global company.
Innovation is our Business
MWW’s innovative approach to product design has established MWW as the supplier of choice for its customers.
High Quality New Product Development
Producing high quality and leading edge products for Toyota, BMW and Ford for the last six years has resulted in the recognition of MWW has a “high quality” supplier. Accelerating new high-quality product development for a growing accessory market is the key to success.
Continue on the Path of Vertical Integration - Smart Acquisitions
To improve design and production capabilities as well as creating new sales and marketing channels in a global market, MWW will continue to pursue synergetic acquisitions that will increase revenue and profit margins.
Smart Financing of Growth
Execute acquisition that are smart and synergetic and can be financed and integrated without creating exceptional burden for the company.
Growth Leading to Growth
Growth through increased vertical integration and the subsequent increaseproduction and sales capacities will allow MWW to acquire new large customers to increase revenues and profits.
Accumulate Critical Mass
A track record of increasing revenues and profits will create the critical mass and the attention from potential investors to generate the appropriate ROI for our shareholders.
Summary Of Company Developments And Milestones
September 4, 2008
MWW Automotive Group's Subsidiary, Colortek Inc., Signs Strategig Alliance Agreement with American Autocoat
August 14, 2008
MWW Automotive Group Reports Sales Increase of 21% for 3rd Quarter 2008
July 27, 2008
Vision Capital Partners Exercises Warrants for $2,000,000
July 21, 2008
MWW hires the Investor Relations Group
May 20, 2008
MWW Automotive Group Reports Sales Increase for First Half and 2nd Quarter 2008
February 21, 2008
MWW Automotive Group Reports Performance of Quarter Ended December 31, 2007: Sales Increased by 26% to $2,732,923; Gross Profit Increased by 11% to $1, 094,858
February 13, 2008
MWW Automotive Group Included in Standard & Poor’s Corporation Records and Market Access Program
February 6, 2008
MWW Automotive Group Debuts at National Automobile Dealers
Association (NADA) Expo in San Francisco
February 5, 2008
MWW Automotive Group Contracts for Customized Accessories for
2009 Toyota Models; Programs are expected to contribute $7 million to $9 million in revenues over product life span
January 9, 2008
MWW Automotive’s German subsidiary, Modelworxx (MWX), Awarded a New Running Board Accessory Program for the Toyota RAV4 for Distribution in Germany by Toyota Motor Europe
December 13, 2007
MWW Automotive Group Opens New Painting Facility - “AutoFX” - Addressing $15-billion Recreational Vehicle Industry
December 10, 2007
Marketing Worldwide Adopts New Trade Name – MWW Automotive – and Re-designs Web site to Better Reflect Company’s Focus and Recent Expansion
November 29, 2007
Marketing Worldwide Corporation Acquires a German Design Company with Deep Relations with BMW, Mini and Rolls Royce, Widening its Access to International Automotive Markets
About MWW Automotive Group
MWW Automotive Group is a full-service global design, engineering and manufacturing firm providing customized accessories for leading international vehicle manufacturers. MWW's products customize cars, sport utility vehicles (SUVs) and light trucks to meet consumer demand for vehicles reflecting their individual lifestyles and personalized needs. Noted for its innovative designs and adherence to the highest quality, MWW and its global subsidiaries provide substantial added value to the sale of vehicles for leading international automobile manufacturers such as Toyota, Kia Motors, GM, and Ford in the US and Europe.
Headquartered in Howell, Michigan and Munich, Germany, MWW delivers its products and services directly to select global automobile manufacturers' vehicle processing centers, distribution centers and/or assembly lines in the United States, Canada and Europe. The centers’ technical teams install the MWW designed and manufactured products in a variety of vehicle types 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 U.S. and European design and manufacturing resources to consistently provide the most innovative and leading edge automotive accessories for an increasingly demanding global market. The Company also provides proprietary design services directly to BMW from within the BMW design facility in Munich, Germany. For more information please visit www.mwwautomotive.com and www.modelworxx.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.”
Contact: The Investor Relations Group (IRG)
212-825-3210
Investor Relations:
Adam Holdsworth aholdsworth@investorrelationsgroup.com
or
Erica Ruderman eruderman@investorrelationsgroup.com
or
Brett Foley bfoley@investorrelationsgroup.com
or
Media Relations:
Laura Colontrellel colontrelle@investorrelationsgroup.com
or
Andrew Conn aconn@investorrelationsgroup.com
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Source: MWW Automotive Group
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