This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs