SOURCE: Worldwide Energy & Manufactuing USA, Inc.

Worldwide Energy & Manufactuing USA, Inc.

December 07, 2010 09:05 ET

Worldwide Energy & Manufacturing USA, Inc. Expects Increase of Approximately 160% in Fiscal Year 2010 Revenue

SOUTH SAN FRANCISCO, CA and SHANGHAI, CHINA--(Marketwire - December 7, 2010) - Worldwide Energy & Manufacturing USA, Inc. (OTCBB: WEMU) ("Worldwide" or the "Company"), a rapidly growing international supplier of photovoltaic (PV) solar modules, today announced revenue guidance for the full year 2010.

Worldwide estimates that its 2010 revenues will increase by approximately 160% to between $160 million to $165 million. The revenue estimate is based on contracts and commitments primarily from the Company's Solar Division, which continues to capture increasing market share globally with its 'AmeriSolar' brand of photovoltaic solar modules. In addition, the Company anticipates that its margins will continue to improve as it ramps up production at its new, wholly-owned state-of-the-art manufacturing and research facility in Nantong, China, which has an initial manufacturing capacity of 100 megawatts and a highly competitive cost structure. 

"We expect to achieve significant revenue growth for the fiscal year ending 2010 and going forward given the strong growth we see in the global solar market and increasing demand for our AmeriSolar PV modules," said Jimmy Wang, CEO of Worldwide. "Europe continues to be a strong market for our products, particularly for us in Italy and the U.K, and we anticipate that Asia and the U.S. will become growing markets in the next three to four years, where we are already well positioned. Solar is a very fast growing industry within the clean tech sector and we are confident that we are taking the right steps to aggressively grow our customer base as spending on renewable energy continues to rise."

About Worldwide Energy & Manufacturing USA, Inc.

Worldwide Energy and Manufacturing USA, Inc. (http://www.wwmusa.com), headquartered in South San Francisco, California, is a 17-year-old engineering-oriented firm specializing in photovoltaic (PV) module, mechanical, electronics and fiber optic products manufacturing. The company's worldwide customer base includes the solar energy, wireless telecommunications, aerospace, automobile and medical equipment industries. Subsidiaries include Shanghai Intech Electro-Mechanical Products Co. Ltd., LLC, Shanghai Intech-Tron Electric and Electronics Co., Ltd., LLC, Shanghai Detron Electric & Electronics Co., Ltd., Shanghai Intech Precision Machinery Co., Ltd., LLC, Shanghai Shutai Precision Casting Company, Limited, LLC, Worldwide Energy and Manufacturing (Ningbo) Co., Ltd., LLC, Worldwide Energy and Manufacturing (Nantong) Co., Ltd., LLC, and Worldwide Energy and Manufacturing (Shanghai) Co., Ltd.

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