MicroHoldings US, Inc (fka MCHU)

[realwill]

More good news for Micro Cars but still no P/R.
The mention of MicroHoldings and the name of Jeff Flannery at lease gives us hope! At least they recognize who he is!!!
Also a UK company investing 2 million dollar USA doesn't hurt.
If Flannery really got 40% for $300,000, what a bargain!!!

http://www.sundayobserver.lk/2007/02/11/fin25.asp
BIZmotors
Micro Cars to produce 15 Rexton SUVs per month

Micro Cars Ltd. plans to manufacture fifteen Micro Rexton SUV-Jeeps per month. Sri Lanka's first four-wheel SUV-Jeep 'Micro Rexton: SUV designed and produced by Micro Cars Ltd. was presented to President Mahinda Rajapaksa at Temple Trees by Dr. Lawrence Perera, Chairman of Micro Cars Ltd.

Parklane UK, a leading investment organisation invested 2 million US$ for the first stage of the Jeep manufacturing project in Sri Lanka. A leading vehicle manufacturer in Korea "Sanyan" which acquired Mercedes Benz know-how and technology from Germany provided the technical assistance to Micro Cars Ltd. for this project.

Sanyan Co. has appointed Micro Cars Ltd. as the SAARC regional four-wheel - SUV-supplier. The company hopes to manufacture fifteen SUV-Jeeps per month in Sri Lanka under the first stage. At present Micro Cars Ltd. produces four models of vehicles, Micro City Car, Micro Hatchback, Micro Mini Van and Micro Rexton SUV at the Pannala and Peliyagoda vehicle manufacturing plants.

Established in 1995 Micro Cars Ltd. is the only automobile manufacturer in Sri Lanka and offers a unique cost effective system for assembling quality cars using local labour and materials.

Created by Dr. Perera, who was an engineer earlier at BMW and Volkswagon, Micro Cars put Sri Lanka on the world map of car manufacturing.

Jiffrey Flannery, CEO of Micro Holdings US Inc. said that Micro Cars has achieved a high level of success in Sri Lanka and has much room to grow in the coming years. At the same time, its unique manufacturing and assembly operation is a model that we believe can be successfully replicated in other developing countries. We look forward to helping Micro Cars expand and succeed in Sri Lanka and the world over, he said.

The Micro Cars facility is labour intensive unlike the US and Western plants that rely on expensive automation and robots.

The system was designed for countries such as Sri Lanka where low labour rates can be matched with a need for high quality inexpensive vehicles. According to Micro Cars, the plant is currently producing about 35-40 cars per month and has the capacity to produce 600 per month.

Micro Cars Ltd. received a purchase order from the United Nations Development Programme (UNDP) in Sri Lanka recently for 30 thirty Micro mini vans. The Board of directors comprises Dr. Lawrence Perera, Founder Chairman, Roy de Silva Director, C. P. Guhashanka, Founder Director - marketing and Sabri Wahid - Director Finance and Administration.
Acera Geospec the answer to heavy work

The 'Acera Geospec,' the latest in Kobelco excavators is filled with the latest technology three-tier engine which provides 18 per cent lower fuel consumption and 27 per cent higher work volume, said Noel Selvanayagam, President, Senok Group at the launching ceremony at Waters Edge, Battaramulla.

He said that Senok introduced Kobelco 25 years ago and since then the market for Kobelco has grown rapidly.

It has become the number one brand in the industry in Sri Lanka and the Maldives. Kobelco excavators are used in road construction, mining, irrigation, dams, off shore, coast conservation, harbour construction dredging, housing and in many other civil construction projects.

Kobelco Japan and Senok value the customer confidence in Kobelco machinery. The Senok group provides the best after service in terms of investment in spares and services to maintain equipment with minimum down time, he said.

The President presented the first consignment of the Kobelco Acera Geospec, to three customers at the ceremony.