Kerry,
Here's a previous PR that I missed:
biz.yahoo.com
Thursday April 27, 11:43 am Eastern Time
Company Press Release
CARH Orders 1000 Fiat/WorldStar Engines
EL CAJON, Calif.--(AutomotiveWire)--April 27, 2000--Composite Automobile Research Ltd. (OTC BB:CARH - news) through its wholly owned subsidiary, World Transport Authority Inc. (WTA) announced today that it has placed an order for 1000 Fiat/WorldStar© engines through ``Zastava Automobili.''
WTA entered into an OEM agreement on April 6, 2000, with Zastava Automobili, a major international distributor of Fiat's 1300 and 1400 series engines and power-trains that permits, by agreement, private labeling of these engines with the WorldStar© logo. These engines have functioned reliably in Europe and USA in over 5,000,000 vehicles, with state-of-the-art electronic fuel injection and low-level emission controls as well as a carburetor distributor models.
The order for 1000 engines represents the initial production requirements for WTA's Master License holders in the Philippines and Colombia, South America. WTA intends to place an additional order for another 1000 engines in 3 months time. It is anticipated that once the second order for 1000 engines is placed, that production in the Philippines and Colombia as well as the ramping up of additional licenses worldwide, will allow WTA to start purchasing engines on a monthly basis by the half and full container. At the WTA R&D center, engineers have retrofitted the engine to meet WorldStar© specifications. As well, engineers have designed and tested a special cradle to house the Fiat engine for the WorldStar©. The Fiat engine in conjunction with its application to the WorldStar© vehicle has undergone extensive testing and thus far the engine and vehicle has exceeded all expectations in regard to performance, fuel economy, smoothness and torque.
World Transport Authority Inc. is pleased to be now able to offer its Master License and License holders the option of either the VW engine powered by CNG, Propane and Gasoline or the Fiat engine powered by CNG, Propane or Gas. WTA is currently awaiting the release of the new Fiat diesel later this year and plans to investigate the feasibility of its utilization for the WorldStar© vehicle.
Fiat is considered a principal global carmaker and has developed maintenance infrastructure throughout many parts of the world. They are known for reliable, innovative, technology derived automobiles. Fiat has a primary presence in South America where WTA is expanding rapidly through its affiliation with WorldStar© Paez.
Composite Automobile Research Ltd. and World Transport Authority Inc., serve the emerging world's transportation needs through in-country manufacturing facilities utilizing local semi-skilled labor to produce the WorldStar© line of utility vehicles.
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 Exchange Act of 1934, as amended. These forward-looking statements should not be used to make and investment decision. Please refer to the WTA Web site www.WTAWorldstar.com and other sources for more detailed information. Investor Relations is at 619/387-8888.
Regards,
John Sladek |
