Been researching this for the past two hours bk, looks like this could be an enormous deal in the making. The nextfew weeks are gonna be alot of fun here, tons of money to be made. Tommorrow A.M. we break through the 50 RSI on the daily and it's off to the races.
I live this and all the other stocks - AWYB/SSSU/GLIF/QBIT/SEVI/USXP which made me a winner for the year (+$50K ) while the losers out there in this DDSI board are trying to make fun of me !!! I know who is having the last a laugh....
Posts: 1134 | Registered: Apr 2003
| IP: Logged |
Let us enjoy the ride since I have invested 2000 odd dollars in this one (2m at 0.001 average). Let us see how far I can take this $2000. I am no hurry to sell....
Posts: 1134 | Registered: Apr 2003
| IP: Logged |
You got it man it will be a ride. The broker share problem is evident by this afternoon's fiasco. I'm calling in before the bell to pick up a pile more for the ride. Tried today but they jerked me around for an hour. Obvious sign they oversold the float big time IMO. Merger is gonna squeeze the heck out of these PIGS!!!
TRANSPORT is one of the key infrastructures in any developing country. In Sri Lanka many people depend on public transport.
Dr Lawrence Perera Chairman/CEO of Transmec Engineering
Today, public transport is in a huge mess and the situation has become worse when most of them cannot afford their own vehicle due to high prices.
Chairman/CEO of Transmec Engineering Ltd Dr Lawrence Perera thought it is important to manufacture an economical, reliable and small car in Sri Lanka, which many people can afford. This paved the way for the birth of the first Sri Lankan made car, named Micro.
Dr Perera said with his 30 years' experience as an automobile engineer, designing and engineering the car was not new to him. But the most difficult task was entering into commercial production, which needs funds.
Many banks were reluctant to provide financial assistance for the new project but Seylan Bank came forward to kick start the business.
In September 2003, Transmec Engineering Ltd stepped into the manufacturing process in their Polgahawela plant. At present the company manufactures the Micro privilege car, Micro mini van and their latest innovation Micro trend.
Our first innovation is the micro privilege car, which is the cheapest and smallest car in the market. This car can tolerate corrosion due to its highly composite body.
Pictures by Sumanachandra Ariyawansa
This composite body can minimise the damage in an accident. Micro privilege comes with an electro galvanised ladder chassis which other imported cars don't have, he said.
The Mini van consists of a modern engine and management system. Dual air-condition is one of the special features in the mini van. Micro Trend comes with features such as power steering, central locking, power shutters and power mirrors with excellent interior decoration.
Customers can opt for any colour. That is the unique feature of Micro Trend.
Micro Trend is available for Rs 600,000 less than a Japanese car with similar features. Compared with Indian cars, prices are similar but Micro Trend has got additional features.
They have provided nearly 300 vehicles for the market. The increase in the waiting list shows the demand for the Micro car.
One of the main features of the Micro car is that it is designed and manufactured in Sri Lanka.
Nearly 35 percent of Micro Trend has been manufactured in Sri Lanka. Some main components are imported, Dr Perera said. Dr Perera said that they have the capability to manufacture these components but the company needs to invest heavily on the manufacturing process.
Although Micro cars had several inquiries from Europe, USA and Bangladesh, the company is keen on catering to the local market.
'We need to serve the local market first after that we will consider about the expansion,' he said. When Dr Perera designed his first car, he had the fear of promoting the product, among people who appreciate imported products rather than local ones.
He is confident he can achieve this by offering unique feature for customer with the quality. They provide two years warranty for their latest car which other imported cars will not provide. He stressed the need to be strong enough to compete with the international market.
According to Dr Perera any Government should have consistency in their policies and it should always protect the local entrepreneur.
"Sri Lanka is a good place for investment. Any investor who expects to start a business should have his own vision, confidence and capable of bearing a certain amount of risk", he said. Micro car is a Rs 600 million project and they have already invested Rs 300 million and recruited nearly 300 employees.
They expect to expand and provide more job opportunities.
Centrex, Inc. Signs Agreement to Acquire MicroCars International and to Market MicroCars Manufacturing Technology Internationally Oct 19, 2006 9:40:00 AM Copyright Business Wire 2006 SAN DIEGO--(BUSINESS WIRE)--
Centrex, Inc. (Pink Sheets:CTXI) today announced that a final agreement has been reached with MicroCars, Pvt Ltd., a Sri Lankan company, to handle the international license and business development for the automobile assembly operations that has been developed in Sri Lanka. Centrex will acquire 51% interest and assume control of MicroCars International, a wholly owned subsidiary of MicroCars. This acquisition gives Centrex the rights to represent the MicroCars technology and manufacturing systems in all markets outside Sri Lanka. The Company already has inquiries from several nations, including Nepal, Bhutan, Syria and Sudan.
Stated Jeffrey Flannery, CEO of Centrex, "We have long been very impressed with the capabilities that have been developed at MicroCars in Sri Lanka and our involvement is really a result of the success MicroCars has already demonstrated to the world. We will immediately begin discussions with interested parties to explore the feasibility of creating assembly operations in these developing countries."
Centrex will offer the MicroCars system on a license basis. MicroCars will provide support in design and engineering of the physical plant, training of workers, assistance in materials procurement and management, training in the use of special manufacturing, assembly and quality control technologies, as well as assistance in marketing and government relations. Centrex will receive a percentage of the license agreements it is able to negotiate with parties in other countries, as well as a percentage of royalties or other fees that are associated with each new transaction for a term of three years. This term is renewable for another three years. License fees, royalties and other fees are still being negotiated and most likely will be determined on a case by case basis.
MicroCars was established in 2001 by Dr. Lawrence Perera, a veteran automotive designer and engineer who had previously worked with BMW, Volkswagen and other major automobile manufacturers. Dr. Lawrence developed the concept to create a car manufacturing system that is far less capital intensive so that smaller, developing nations can use the labor force to manufacture and assemble quality, economical cars, vans and pickup trucks.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of CTXI are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future CTXI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and CTXI has no specific intention to update these statements.
Source: Centrex, Inc.
---------------------------------------------- Centrex Inc. Jeff Flannery 619-342-8096
Posts: 632 | From: Midwest | Registered: Aug 2005
| IP: Logged |