WWA Group, Inc. (OTCBB: WWAG) today announced record auction sales and commission revenue from auctions held at its Dubai facility for the six months ended June 30, 2008, despite restrictions on the use of its new yard and outside interference in its business.
Gross physical auction sales during the period exceeded $64 million and involved more than 1,100 registered bidders from over 30 countries. Equipment consigned to the three auctions held in February, April and June 2008, comprised of over 4,500 items, was sold to over 620 successful bidders. The June 2008 auction alone generated gross auction sales of over $25 million worth of equipment.
WWA Group is planning three more physical auctions from its Dubai facility in September, October and December 2008, and is projecting record auction sales and revenue for the full year 2008.
“The market for equipment in the Gulf region remains strong and overall requirements are expected to grow as huge infrastructure projects and private developments continue to be awarded at a rapid pace,” commented Eric Montandon, CEO of WWA Group. “The outlook for regional equipment demand appears more positive than I have experienced since we started this business in 2001.”
Actual sale prices for all items sold at our auctions are published for members at www.ironauctions.com. Member registration is free on the site, by clicking on "Auction Results." Lists of equipment for sale at upcoming WWA Group auctions are updated daily on the site. Anyone interested in consigning equipment to the auctions, or registering to bid, can e-mail info@ironauctions.com or call 011 971 4 881 6142.
WWA Group is a public company; its common shares trade on the OTCBB under the ticker symbol "WWAG.OB." The company maintains its corporate web site at www.wwagroup.com.
For further investor information, please contact Eric Montandon at 011 971 4 881 6142 or access our Web site at http://www.wwagroup.com.
About WWA Group:
WWA Group, Inc., together with its subsidiaries, engages in the trading and auctioning of transportation and industrial equipment worldwide, with a primary base of operations in Dubai, U.A.E. Auctioned items include mobile and stationary earthmoving and construction equipment, such as crawler tractors, excavators, wheel loaders, cranes, trucks and trailers, generators, compressors, agricultural tractors, and forklifts. WWA Group is the largest seller of used construction and industrial equipment in the booming Gulf Region of the Middle East and has expanded its dominant position to include related businesses in shipping and mining.
Forward-Looking Statements:
A number of statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended. A safe-harbor provision may not be applicable to the forward-looking statements made in this press release because of certain exclusions under Section 27A(b). These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results that WWA Group may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. WWA Group encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K and Form 10-Q. WWA Group’s public filings may be viewed at www.sec.gov.
WWA Group Inc.
Eric Montandon, 011 971 4 881 6142
info@ironauctions.com
http://www.wwagroup.com