Worldwide Energy & Manufacturing USA Inc., provider of photovoltaic solar modules and other mechanical and electronic parts for residential, commercial, industrial, and public utility applications around the world, indicated today that 2010 revenues for the company are expected to increase 160% over the previous year, topping out at between $160 million and $165 million. The estimate is based largely on contracts and commitments for the company’s fast growing Solar Division, with its AmeriSolar brand of solar modules. The company also anticipates increased production at its new state-of-the-art manufacturing and research facility in Nantong, China, which should result in improved margins.
Worldwide’s CEO, Jimmy Wang, said of the anticipated growth, “We expect to achieve significant revenue growth for the fiscal year ending 2010 and going forward given the strong growth we see in the global solar market and increasing demand for our AmeriSolar PV modules. Europe continues to be a strong market for our products, particularly for us in Italy and the U.K, and we anticipate that Asia and the U.S. will become growing markets in the next three to four years, where we are already well positioned. Solar is a very fast growing industry within the clean tech sector and we are confident that we are taking the right steps to aggressively grow our customer base as spending on renewable energy continues to rise.”
Worldwide Energy & Mfg USA is headquartered in South San Francisco, but with its subsidiaries and operations in Shanghai and other parts of China. The company manufactures a wide range of mechanical, electronic, and fiber optic products, but with special focus on its growing photovoltaic products. It serves a global customer base in the solar energy, wireless telecommunications, aerospace, automotive, and medical equipment industries.
For more information, visit the company’s website at www.WWMUSA.com