MicroHoldings US, Inc (fka MCHU)

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A little old, but it has some info


http://www.theautochannel.com/news/2006/06/15/011350.html

06/15/06, 4329 bytes
Centrex, Inc. Signs LOI to Form Business Development Partnership with MicroCars, Ltd.
SAN DIEGO--June 15, 2006--Centrex, Inc. (Pink Sheets:CTXI) today announced that it has signed a nonbinding letter of intent to create a partnership with MicroCars, Ltd., a Sri Lankan company, to open new markets for the assembly of automobiles, vans and trucks.

Established in 1995, MicroCars, Ltd. is the only automobile manufacturer in Sri Lanka, featuring a line that includes a sedan, a coupe, a minivan and a four-wheel-drive pickup truck. Created by Dr. Lawrence Perera, previously an executive engineer at Volkswagen in Wolfsburg, Germany, MicroCars offers a cost-effective system for assembling quality cars using local labor and available local materials. The manufacturing plant is currently assembling about 60 cars a month, but its capacity is nearly ten times that number.
Stated Jeffrey Flannery, CEO of Centrex, Inc.: "The MicroCars system is a great opportunity for a developing country to establish a low-cost automobile. What is most impressive is the outstanding quality of these vehicles. From performance and handling to attention to design details, Dr. Perera has created a great line of automobiles. These innovative assembly plants offer local employment and training in many useful areas. And then there is the strong sense of pride when a country such as Sri Lanka can boast of producing its own quality automobile."
Compared to fully automated plants that cost hundreds of millions of dollars to build, a MicroCar facility can be established for a small fraction of that cost and be fully operational in three to six months. A plant on 2 to 3 acres of land can produce up to 6,000 cars per month and generate more than $20,000,000 in annual revenue.
The MicroCars manufacturing system has attracted strong interest from several countries seeking to create a local industry. Centrex, Inc. will help MicroCars evaluate and implement these business opportunities as well as help structure the business relationships with these other countries. The LOI also provides Centrex with an option to acquire up to 40% of the common stock in MicroCars.
Added Flannery: "Once we have completed our due diligence, we hope to expand this innovative manufacturing program to at least two other countries during 2006."
More information on Centrex, Inc. can be found at www.centrexglobal.com. Information on MicroCars, Ltd. can be found at www.microcars.lk.

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