Far East Expansion
World Information Technology (WRLT.PK) makes equity investment in Avanti Systems Worldwide, a global system’s integrator and production support services company.
New York, June 23, 2005 (WebWire) -- World Information Technology, Inc. announced today that it had completed an initial equity investment into Avanti Systems Worldwide, LLC (“Avanti”). This equity investment with Avanti is to provide additional working capital for Avanti as they continue to expand their current contract position with a global Tier 1 automotive supplier, with over 160 plants worldwide and annual revenues of over $18 Billion (USD).
“We have reviewed a number of investment opportunities in the information technology sectors of several industries and find the areas of traceability, sequential delivery, production support and associated processes within the automotive market growing and expanding on a global basis”, says Parsh Patel, CEO of World Information Technology, Inc. “These technologies and services within the automotive industry are quickly expanding into virtually every geography including the Asia-Pacific market as the automotive industry evolves into a more lean, responsive and profitable industry”, Mr. Patel continues, “and we have found Avanti having experience with these technologies and services in North America, Europe and the Asia-Pacific regions”.
About Avanti Systems Worldwide, LLC.
Avanti Systems Worldwide, LLC is a privately held systems integrator and support services’ company with its headquarters located In Auburn Hills, Michigan (Metro Detroit). Avanti has been contracted with a top 5 Tier 1 automotive supplier since January 2004 to supply systems integration, engineering design, implementation and production support services on a global basis. Avanti has designed and installed advanced manufacturing/production systems capable of managing high complexity assembly processes that have very short delivery times of less than 1 hour from receipt of order to deliver. Sites include facilities in Spain, England, France, Germany, United States, China, Canada and pending sites in Slovakia, Portugal and Thailand.
One of Avanti’s most unique offerings is its Production Support Services where is actively monitors and supports these complex assembly/production environments from a central command center located currently in Michigan. This service is called upon when the assembly/production facility experiences a problem with inboard order data, internal order processing or equipment failures that cause a stoppage in their ability to deliver on time. With very short lead times for delivery, these work stoppages can be devastating and therefore making the value of the Avanti Production Support Services very high. These services are provided on a 24 hours per day, 7 days per week, 365 days per year basis and are manned with trained engineers and technicians.
About World Information Technology, Inc.
World Information Technology Inc., operating in Taiwan and main land China has introduced its first all-around online video streaming solution for integrated TV postproduction live custom programming. The Company has developed proprietary interactive real-time two-way data communications. The Company has set up various online shopping channels at and has become a dominant force in e-commerce in Taiwan. World Information has established a service enabling Internet users to create their own Web sites. The Company strives to improve the online experience of its users. Users are offered an opportunity to participate in commercial activities, which include affiliate programs with major merchants. World Information’s strategy is to be the Republic of China’s leading member-created online community for people on the Web.
Included in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The Company’s actual results could differ materially from those anticipated in the forward-looking statements.
SOURCE: World Information Technology, Inc.
World Information Technology, Inc.
- Contact Information
- Mary Ellen Salens
- Executive Assistant
- Avanti Systems Worldwide, LLC
- Contact via E-mail
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