MWW Automotive Reports Financial Results For Fiscal Year 2010
Pinkerton continued, "Since smaller production runs fall squarely into MWW's core competencies, we are able to attract new business at a faster rate compared to last year. Accordingly, we are currently in testing, pre-production and production stages for several new long-term, mid-size projects, which have been awarded to us based on MWW addressing this market gap. We are expecting brisk business from these new relationships for 2011 and 2012."
Operational Developments during 2010
During 2010, MWW expanded its presence in color body side moldings and seat heaters, both of which can be installed either by the vehicle processing centers (VPCs) or the retail dealer. MWW expects that installation at the VPC and dealership level will increase along with market penetration rates.
During 2010, MWW continued production of the 4Runner running board program for Toyota Canada. This program launched in September of 2009 and should continue through 2014.Also in 2010, MWW continued the production of the Yaris HB package, which was approved in September of 2009 by Southeast Toyota. This program included a spoiler, interior trim and lighted door sills and is expected to run through 2014. MWW is expanding the marketing and sales of its newly designed carbon fiber seat heater systems, developed and launched in July 2009. The product line now has seven (7) configurations, broadening the spectrum of applications in many different vehicles. MWW has entered into a strategic partnership with one of the country's leading injection molding and thermal forming companies and has introduced a new line of high quality automotive Body Side Moldings. This new product brings to the marketplace unprecedented color consistency and durability and expands our product roster beyond our currently existing customer base. In addition to internal development programs, in 2010, MWW was engaged in various stages of joint program developments on a number of new programs with several other suppliers. These development efforts were undertaken to expand the Company's product offerings and customer base, while reducing overall development costs. These products are either currently being designed, prototyped or in various stages of tooling with expected launch dates in the second or third quarter of fiscal year 2011.
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