Update From MWW Automotive Chairman
Two of our largest customers, ROUSH Performance Products and Polytec FOHA, to name a few, are two of the most established Tier One suppliers and manufacturers in the automotive industry for both domestic and international brands and we have begun production for several of their new products. In cooperation with these two companies we are currently producing for the Ford Mustang, the Ford F-150 the Ford Edge, the Hyundai Genesis, Subaru, Chevrolet Malibu and several others. We are now beginning to see a steady increase in orders, expected to develop even stronger over the coming months.
Diversification into the non-automotive sector was one of our most important objectives and Chuck Pinkerton has successfully received technical certification of our plant, technologies and production processes by several of our large clients and approval for production samples that we're intending to put into full production soon. In addition we will also handle logistics for our industrial client GSI North America. Understandably, the start-up process for these high volume production contracts is complicated and requires advance funds. Often time's delays are caused by certain design and engineering processes at our clients' that are not under our control. Credible indication from our new customers though allows guarded hope that a kick-off for these contracts, originally planned for end of last year, will materialize in the coming 2-3 months.
While we are still struggling to finance all the newly awarded programs and operations, while expanding production capacity at the same time in order to be prepared for larger volume, all signs finally point towards a steady increase in business from new customers and the customers that MWW currently services. I truly believe that the worst is going to be over soon and we are once again set for a prosperous future.
So far, we weathered an unprecedented crisis in the financial sector and in the automotive industry. We made the necessary adjustments, we're working smarter and harder and our goal is within reach to transform MWW into a stable business platform and trusted name in the automotive and industrial industries. By doing so, we should be generating steadily increasing revenues and profits and subsequently improve the share value for all MWW shareholders. Most of us here at MWW are also large shareholders and we are all looking forward to benefit.
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