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Worldwide Energy and Manufacturing USA (WEMU.OB) Opens Huge New PV Module and Research Facility in China

|Includes: Worldwide Energy & Manufacturing USA, Inc. (WEMU)

Worldwide Energy and Manufacturing USA, Inc., – global leader and 17-year veteran engineering and quality control firm focused on the solar, aerospace, telecom, medical equipment and automotive sectors, reported the opening of a new 129k sq ft PV (photovoltaic) solar module production/R&D facility near Nantong, China.

Slated to begin production in Q4 this year, with a staff of 120 and an initial output capacity of some 100 MW annually, the facility is on a site large enough to support two major building expansions in the future that would bring the output capacity up to 300 MW per year.

With plans to quickly add another 80 employees before the close of the year, WEMU looks to push the technology envelope here via the 11k sq ft research center, which is dedicated to perfecting the Company’s Amerisolar brand of solar modules and PV solar systems in general.

CEO of WEMU, Jimmy Wang, cited sharply increasing demand for the Company’s high-quality solar modules, and the fact that WEMU owns both the 484k sq ft plot of land as well as the facility itself (unlike its other China facility in Ningbo which is leased) as strong driving factors which would materialize into improved margins and shareholder returns.

Just 120 miles north outside Shanghai, the undisputed economic heart of the rapidly growing Jiangsu Province, the new WEMU facility’s opening was a rousing success with over 100 in attendance, including local government officials and business leaders.

Global revenues worldwide for the PV industry exceeded $38.5B in 2009, according to recognized research and consulting firm Solarbuzz, whose analysis of the solar market also indicates an incredibly strong future growth trend, with annual sales climbing to some $100B by 2014.

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