Composite Automobile Research Ltd. Receives Authorization for Significantly Expanded Operations in Philippines.EL CAJON, Calif.--(BUSINESS WIRE)--May 10, 1999-- Composite Automobile Research Ltd (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CARHF) and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. World Transport Authority Inc. announced today that the SALAKOT MULTI-PURPOSE COOPERATIVE Board of Directors unanimously approved the expansion of the WorldStar Philippines Manufacturing & Distribution facilities to include a "factory-to-build-factories" in the Clarke Special Economic District in the Republic of the Philippines. The awarding of this permit is the result of a very significant effort to move an immense amount of paperwork through the Philippine governmental agencies and comes fully six months sooner than the most optimistic of expectations offered by knowledgeable sources. This provides for a large expansion of the WTA WTA Washington Trails Association WTA Women's Tennis Association WTA World Transhumanist Association WTA Willingness to Accept WTA Winner-Take-All WTA Winner Takes All WTA World Toilet Association (Singapore) manufacturing capacity in the Philippines. The SALAKOT MULTI-PURPOSE COOPERATIVE is owned and operated by active and retired officers of the Philippine Air Force The Philippine Air Force (PAF) is the air force of the Philippines. Its official name in Filipino is Hukbong Himpapawid ng Pilipinas. History The Philippine Air Force became a separate military service on July 1, 1947, when President Manuel Roxas issued . The SALAKOT group has the responsibility of marketing and sales to Philippine utilities, armed forces, police departments and certain large fleet operators under the WTA M&D License Agreement that they hold. The availability of a facility to construct and ship WorldStar factories, as well as train other WTA M&D License holders, from a centrally located point will enhance factory sales through the Pacific Rim, SE Asia and the greater Indian Ocean area. WTA Master License holders sell and install The WorldStar micro-factories in the basic configuration for US$372,000. The basic WTA M&D Micro-factory, capable of one-vehicle-per-day, effectively makes the emerging nation an automobile producing country. This is what Ford (NYSE NYSE See: New York Stock Exchange :F) did for America and WTA (OTCBB:CARHF) is doing for the emerging world. Additional information: WTA Investor Relations Investor relations The process by which the corporation communicates with its investors. , 619/444-7254, fax 619/444-9026 or visit the website www.WTAWorldstar.com. "Safe Harbor" Statement Under The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.The results anticipated by any and all these forward-looking statements may not occur. |
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