World Transport Authority
(OTC BB: WTAI) (POH: Frankfurt). World Transport Authority, Inc. (WTA) today signed
a contract with the Premier Skimmer Group to supply WordStar(TM) factories and
automotive components to the Republic of India over the next 5 years. During this
term, the contract will generate over $1.1 billion in revenue for WTA.
During the five-year contract
period, Premier Skimmer Group will purchase WTA equipment, tools, and training
for 315 WorldStar(TM) assembly lines for installation throughout India. Additionally,
these assembly lines will require vehicle components for over 200,000 vehicles.
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The contract was negotiated
in WTA’s Washington DC office by Senior Vice President Joseph W. Parker, and
signed in the El Cajon, California corporate office on September 18, 2000. During
the contract signing, he stated, “This contract represents another significant
step in WTA’s strategic global marketing plan. India is a key automotive market,
and we could not have signed a more noteworthy partner.”
Signing the contract for
the Premier Skimmer Group, Chairman Edward Skimmer Alexander commented: “India
has a very competitive automotive market, and the WorldStar(TM) manufacturing
process and vehicle are more than equal to the task. We have developed an aggressive
business plan, and look forward to the product launch.” Premier Skimmer Group
will start marketing by opening 3 WorldStar(TM) factories in the cities of Chennai,
Bangalore, and Mumbai.
Premier Skimmer Group is
a large India-based conglomerate of nine companies, including business units
covering communications, information technology, finance, international trade,
and automotive manufacturing and services. Premier Skimmer Motor Company, Ltd.
will manufacture and market the WorldStar(TM).
World Transport Authority
Inc. serves the emerging world’transportation needs through in country manufacturing
facilities, utilizing local semi-skilled labour to produce the WorldStar line
of utility vehicles.
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