HONG KONG, May 16, 2024 (GLOBE NEWSWIRE) -- UMeWorld Limited (OTCPK: UMEWF) is pleased to announce a strategic plan for expansion in the United States. Having secured proprietary enzymatic technologies for health-centric products and biofuel production, this plan seeks phased development of a large-scale production facility in Miami to expand the production capacity and market presence of the company in key target markets.
Strategic Expansion Through Phased Development
Phased development shall occur across three primary phases:
Phase 1: Bottling Operations
- Bottling operations are set to commence by Q1 of 2025 through the establishment of a Miami-based commercial bottling facility, where DAG oil will be imported in bulk 200 kg drums and bottled on site. Seeking to quickly establish UMeWorld's presence in the U.S. market, this phase aims to leverage a to-be-acquired retail distribution channel. Having over 10,000 registered customers, this retailer spans significant sales channels including Amazon, eBay, and Walmart.
Phase 2: Small-scale Manufacturing
- An accompanying domestic manufacturing facility is planned for construction in the final quarter of 2026. This move is expected to streamline production, enhance product appeal and align with consumer preferences for locally made products. Upon completion of the manufacturing plant, UMeWorld anticipates generating sales of up to $200 million annually from DAG oil in the USA.
Phase 3: Large-scale Manufacturing
- Scheduled for Q1 of 2028, UMeWorld will seek to construct a large-scale facility to grow production capacity from around 10,000 tons/year to approximately 100,000 tons/year. Upon completion, this plant is forecasted to have an annual production value of over USD 2 billion.
Palm Oil Production Forecast
In tandem with DAG oil production, UMeWorld plans to commence production of palm oil pursuant to an executed letter of intent and following acquisition and operation of a palm oil mill thereunder. The company projects that this operation may generate north of $100 million within the first 18 months, enhancing its portfolio and market reach.
CEO’s Vision for Growth
Michael Lee, CEO of UMeWorld, expressed his enthusiasm for the company’s strategic initiatives, stating, “The phased development of production facilities in Miami will mark a significant milestone in UMeWorld’s journey towards becoming a global leader in the biotechnology industry. These initiatives will allow us to leverage cutting-edge technology to produce high-quality, sustainable products that meet the evolving needs of consumers."
Financial Expectations
The acquisition of a Miami-based retailer is projected to boost UMeWorld's revenues to approximately $5 million for the year ending 2024, which is further projected to increase to around $10+ million by the end of 2025. The strategic location in Miami offers logistical advantages that will facilitate access to both domestic and international markets, particularly Latin America, supporting the company’s global expansion strategy.
In Summary
With robust growth strategies in place, including the phased setup of production facilities and leverage of acquisition target retail channels, UMeWorld is well-positioned to be a potential market leader in both the health food and sustainable energy sectors. The expansion into the U.S. market is expected to not only increase UMeWorld’s production and distribution capabilities but also enhance access to innovative products across a broader consumer base.
For more information about investing directly in UMeWorld and its innovative projects, please visit www.umeworld.com.
Forward-Looking Statements
This press release may contain forward-looking statements, about UMeWorld's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, UMeWorld or its representatives have made or may make forward-looking statements, orally or in writing.
Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by UMeWorld with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of UMeWorld's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause UMeWorld's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause UMeWorld's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in UMeWorld's filings with the SEC. In addition, UMeWorld operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. UMeWorld does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 20-F and other periodic and current reports filed with the Securities and Exchange Commission.
