Message #16 From:
Stock News Bot Date: October 4, 2006 06:57:00 AM
WWAG News WWA Group Joins Joint Venture That Lands U.S. Military Equipment Disposal Contract
DUBAI, United Arab Emirates--(BUSINESS WIRE)--WWA Group, Inc. (OTCBB:WWAG),
announced today that it has joined forces with East Rim Trading, Ltd., a
British Virgin Island registered company and Big Iron Trading, Ltd., a
Philippine based equipment trading company, to win a tender for the
disposal of thousands of tons of scrap metal, vehicles and equipment for
the U.S. military on the British territory of Diego Garcia.
The joint venture won the tender for the disposal contract, and is now
in the process of sorting and removing hundreds of machines, vehicles,
and containers of scrap metal from the island military base. WWA Group
has sent its recently purchased RO-RO vessel to Diego Garcia to
facilitate the transportation of equipment and scrap metal to Dubai for
sale or auction.
The joint venture is working to secure a long term contract with the
U.S. military to continue removing material from Diego Garcia and other
bases.
“The project could be very profitable for the
joint venture, and it fits in very well with our recent ship purchase,”
said Eric Montandon, chief executive officer of WWA Group. “We
expect to have a substantial number of vehicles and equipment items to
sell at auction, and look forward to a long term relationship with the
U.S. military.”
About WWA Group
WWA Group, through its wholly owned subsidiary World Wide Auctioneers,
Ltd., is one of the world’s largest
auctioneers of transportation and industrial equipment. For further
investor information, please contact Eric Montandon at 011 971 4 881
6142 or access WWA Group’s websites at www.wwagroup.com
and www.ironauctions.com. For
recent news and quotes, visit Yahoo! Finance at http://finance.yahoo.com/q?s=wwag.ob
A number of statements contained in this press release may be considered
to be forward-looking statements that are made pursuant to the safe
harbor provisions of the Private Securities Litigation Act of 1995.
These forward-looking statements involve a number of risks and
uncertainties, including market acceptance of services provided,
competitive market conditions, governmental regulation, and auction
results. The actual results 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-KSB
and Form 10-QSB. WWA Group's public filings may be viewed at www.sec.gov.
