SOUTH SAN FRANCISCO and SHANGHAI, China, Aug. 9, 2010 (GLOBE NEWSWIRE) -- Worldwide Energy and Manufacturing USA, Inc. (OTCBB:WEMU) ("Worldwide" or "the Company"), a U.S.-based China manufacturing company specializing in products for customers in the solar energy, aerospace, wireless telecommunications, medical equipment and automotive industries, today announced the opening of the Company's 129,000-square-foot photovoltaic (PV) solar module production facility and R&D center in Nantong, China.
The new facility will have an initial production capacity of 100 megawatts (MW) per year and is scheduled to begin initial operations in the third quarter of 2010 with 120 employees. The location is large enough to accommodate two building expansions that would bring the total manufacturing capacity to 300 MW per year. Worldwide expects to increase its staff at the facility to 200 associates near the end of 2010. In addition to the manufacturing plant, the facility also houses an 11,000-square-foot research center for the continued development of the Company's "Amerisolar" brand solar modules as well as complete PV solar energy systems. Unlike its leased facility in Ningbo, China, Worldwide owns the Nantong facility outright, as well as the 484,000-square-foot parcel of land on which it is situated. Approximately 100 people, including local government officials, attended the opening ceremony of the new facility on July 29th. Nantong, located near the coast of the East China Sea, is about 120 miles north of Shanghai and is known as the economic hub of the Jiangsu Province.
According to solar market research and consulting firm Solarbuzz, the global PV industry generated $38.5 billion in revenues in 2009 and is expected to experience strong growth over the next few years. Solarbuzz forecasts that annual global PV sales could approach as much as $100 billion by 2014.
Worldwide's Chief Executive Officer, Jimmy Wang, stated: "We are very excited about the opening of our Nantong facility, which will help us meet the growing demand for our high-quality solar modules. This new facility greatly increases our solar manufacturing capacity. We expect company ownership and lower operating costs at the new facility to improve margins for Worldwide."
About Worldwide Energy and Manufacturing USA
Worldwide Energy and Manufacturing USA, Inc. (http://www.wwmusa.com/">http://www.wwmusa.com), headquartered in South San Francisco, California, is a 17-year-old engineering-oriented firm specializing in photovoltaic (PV) panel, 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., Shanghai Intech Electronics Manufacturing Co. Ltd. and Shanghai Intech Precision Mechanical Products Manufacturing Co. Ltd., located in Shanghai, China.
Forward-looking statements:
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