Methode Electronics, Inc. (NYSE:MEI) a global developer of custom engineered and application specific products and solutions, has been awarded a next generation integrated center stack program for multiple General Motors vehicle platforms. The center stacks will be featured on certain vehicles starting in model year 2013, and are expected to have a five-year program life. Center stack production will begin during Methode's fiscal year 2013 and is expected to represent over $100 million in revenue per year starting in fiscal year 2014. Actual revenue will depend on a number of factors, including consumer demand for General Motors' vehicles.
Methode Electronics, Inc. is a global manufacturer of component and subsystem devices with manufacturing, design and testing facilities located around the world.
Muscle Pharm Corp. (MSLP.OB) one of the fastest growing nutritional supplement companies in the United States, previously announced a fulfillment agreement with IVitals that is expected to improve cash flow, reduce backorders, improve turnaround time on all orders and allow management to focus its time and resources on the marketing and selling of MusclePharm's growing portfolio of products.
The Company expects to achieve over $4 million in sales for the full year of 2010, which is over 300% growth compared to the same period last year. The rapid growth and strong customer demand for the MSLP products has created back orders for 5 of the 12 months in 2010. The new fulfillment agreement is expect to greatly improve the back orders for the remainder of 2010 and reduce the insufficient levels of stock needed to complete all orders.
MusclePharm's President, Cory Gregory stated, "This fulfillment agreement will reduce the cost and delivery time for all product shipments to our many retail and online customers. In addition, by outsourcing our fulfillment function, management will be able to focus our time and resources on expanding sales opportunities and enhancing our brand." Mr. Gregory continued, "With rapid growth of 300% come a few growing pains such as back orders. I am pleased that we expect to achieve this growth in 2010 despite having 40% of our orders on back-order. However, with this fulfillment agreement, we have greatly improved our operating platform and believe we have rectified our back order situation. With a dramatically improved operating platform and leading nutritional supplements that are 100% free of any banned substances we are very well positioned for continued strong growth in 2011."
MusclePharm is a rapidly expanding healthy life-style company that develops and manufactures a full line of NSF and scientifically approved, nutritional supplements that are 100% free of any banned substances.
For more information about this company please visit http://www.musclepharm.com
Wabash National Corp. (NYSE:WNC) announced that it presented awards to 14 of its top suppliers at the company's annual supplier conference. "The past year's economic down cycle has had a significant impact on almost every organization in the industry," said Todd Gish, leader of supplier development at Wabash National. "This year's awards recognize the suppliers who have had the vision and leadership to perform through the downturn and into this new growth cycle." Eleven platinum awards were given to suppliers that demonstrated the essential aspects of supply chain performance in delivery, quality, cost, innovation and attitude.
Headquartered in Lafayette, Ind., Wabash National ® Corporation is one of the leading manufacturers of semi trailers in North America.
Hiru Corporation (HIRU.PK) subsidiary Shuangshi AHP Co.'s new production line and workshop are in their final stages. The new equipment is being put in place.
The company announced on June 17, during the second annual Shuangshi AHP Co. board meeting, that the management decided to invest and expand on the company's vaccination production. Since then, the company invested $3 million RMB into the development of the two new production lines: a line for large volume injections and a line for injection powder.
The next step of this project will be to install the air purification system necessary for these production lines. The air purification system is required for a successful operation of these volume and powder injection production lines.
The HIRU Corporation manufactures approximately 120 extracts, used in traditional Chinese medicine.
The Hiru Corporation and its main subsidiary Jiangxi Shuangshi Animal Health Products Corp. (Shuangshi AHP Corp.) focus on the development, manufacturing and marketing of a widely range of veterinary products for the Chinese Agricultural market. The company has maintained a strong position in the Chinese animal husbandry market and plans to expand and deliver more new products and solutions in the future.
For more information about this company please visit http://www.hirucorporation.com/
Wells Fargo Funds Management, LLC previously announced the dividend declaration for the Wells Fargo Advantage Income Opportunities Fund (AMEX:EAD), the Wells Fargo Advantage Multi-Sector Income Fund (AMEX:ERC), the Wells Fargo Advantage Utilities and High Income Fund (AMEX:ERH), and the Wells Fargo Advantage Global Dividend Opportunity Fund (NYSE:EOD). The Wells Fargo Advantage Income Opportunities Fund is a closed-end high-yield bond fund. The Fund’s investment objective is to seek a high level of current income. The Fund may, as a secondary objective, seek capital appreciation to the extent it is consistent with its investment objective.
Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company provides investment advisory and administrative services for Wells Fargo Advantage Funds®.
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