EL CAJON, Calif., Jan. 13, 2004 (PRIMEZONE) -- World Transport Authority, Inc. (OTCBB:WTAI) (Frankfurt: 920943) announced today a major sales contract and the formation of a new division.
The company is making significant progress on the planned corporate restructure and revamped sales plan. As part of this plan, WTAI established a new marketing subsidiary named Autotech International Corporation (AIC). William Kennedy was named sole Director and Officer. Mr. Kennedy is on the board of directors and Chief Executive Officer of WTAI.
AIC develops commercial factory sales for the manufacture of Worldstar vehicles on a worldwide basis.
Management reports AIC signed the first factory sale in over two years for WTAI, on December 18, 2003. This first order is initially for six factories for delivery in 2004. The contract is expected to produce first year revenue of approximately $3.4 million, including vehicle parts.
This Press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended, and such Section 21E of the Securities Act of 1934, as amended. These forward-looking statements should not be used to make an investment decision.
Phone calls will be taken at: World Transport Authority, Inc. (619) 593-2440 Fax (619) 593-2444.
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