SOURCE: Worldwide Energy & Manufacturing USA, Inc.

Worldwide Energy & Manufacturing USA, Inc.

April 27, 2011 07:00 ET

Worldwide Energy & Manufacturing USA, Inc. Board Removes Jimmy Wang as Chairman, CEO; Appoints Jeff Watson as Chief Executive Officer

SOUTH SAN FRANCISCO, CA--(Marketwire - Apr 27, 2011) - Worldwide Energy & Manufacturing USA, Inc. (OTCBB: WEMUE) ("Worldwide" or the "Company"), a rapidly growing supplier of photovoltaic (PV) solar modules under the 'Amerisolar' brand, today announced that on April 25, 2011, its board of directors removed Jimmy Wang as Chairman and Chief Executive Officer and from all offices and positions that he held with the Company. Mr. Wang remains on the Board. The Board also took action to remove Mr. Wang from all offices, positions, and directorships that he holds with the Company's subsidiaries and affiliates.

In addition, the Board took action on April 25, 2011, to remove Mindy Wang, the wife of Jimmy Wang, from all offices and positions that she held with the Company, including her positions as Secretary and Treasurer of the Company as well as from all offices, positions, and directorships that she holds with the Company's subsidiaries and affiliates. Mrs. Wang remains on the Board. Concurrent with these actions on April 25, 2011, the Board also appointed Mr. Jeff Watson, President of Worldwide, as the Company's Chief Executive Officer and as interim Secretary and Treasurer. Mr. Watson has served as President of Worldwide since January 14, 2008 and was appointed to the Board and named as Vice Chairman on May 25, 2010.

Mr. Watson has over 23 years of manufacturing experience supporting a variety of industries and markets. Prior to joining the Company, he was President of Joslyn Sunbank from 2001 to 2008. Joslyn Sunbank is a division of Danaher Corp. and a leader in the design and manufacture of high-reliability electrical components and sub-systems serving Aerospace and Defense markets globally. He began his career as an engineer in the power transmission industry with Fasco Gearmotors, a vertically integrated design and manufacturing company producing gear-motors, linear actuators and the supporting electronic controls, and held several engineering and managerial positions until leading the organization as general manager from 1999 to 2001. He holds a Bachelor of Science Degree in Mechanical Engineering from the University of Missouri.

"The Board would like to thank Jimmy Wang for his crucial contribution to Worldwide's inception and development," said Mr. Watson. "Jimmy's vision in opening new doors for Worldwide created vast opportunities for this business. He successfully took the Company from providing contract manufacturing services globally to also becoming a growing manufacturer of solar modules. As a fairly new entrant to the PV solar market, Worldwide has competed very successfully in this competitive space and has grown revenues significantly and consistently at higher rates than the industry."

On April 26, 2011, Michael Toups resigned from his position as Chief Financial Officer of the Company. Mr. Toups served as interim Chief Financial Officer of the Company since February 23, 2011.

About Worldwide Energy & Manufacturing USA, Inc.

Worldwide Energy & Manufacturing USA, Inc., headquartered in South San Francisco, California with manufacturing facilities in China, is a rapidly growing manufacturer of photovoltaic (PV) solar modules under the 'Amerisolar' brand. Founded in 1993, the Company sells its products primarily to clients in Europe, North America and Asia. The Company also operates several subsidiaries in the People's Republic of China (PRC) that provide mechanical, electronic and fiber optic products manufacturing. For more information about Worldwide Energy & Manufacturing USA, please visit its website at http://www.wwmusa.com.

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