Forum Archive Index - March 2000

["Bud Fox" <bud_foxx@hotmail.com>]

Thought this article on WDT might be of interest to those who have asked 
about the company.

Bud

(I own shares in WDT)

Wgtn. Drive Ready to Motor

Wellington Drive Technologies, trading on the secondary market, could have 
turned the corner on the long road to profitability. WDT
has the potential to become one of the outstanding hi-tech stocks on the NZ 
market if as expected it seeks listing on the main board.
Last week it announced that AXA NZ Funds Management is to take a 4.8% stake 
in the company. It said it would place 5M shares
at 20c each with AXA and other "professional" investors. WDT has developed a 
new form of electric motor, suitable for mass
market appliances and other uses. The motors are electronically controlled, 
"brushless" types, constructed from advanced materials
including permanent magnets and specialised plastics. The company has been 
evolving to become a supplier of brushless motor
solutions, offering to supply complete motors and motor components. A 
Wellington motor can frequently be integrated almost invisibly
with the parts of the product that need to be driven , while the adjustable 
speed capability and wide speed range means that gear
trains can be eliminated or reduced. WDT motors are manufactured using
injection-moulded processes. Last year the company said it
would continue to trade at a loss during the year to June 2000, with income 
remaining below expenditure on product development,
patenting, market development and engineering. It said revenues from 
royalties, licence fees and contract engineering are expected to
increase during the 2001 financial year to the point the company would trade 
profitably, "and revenue growth is expected to be
significant thereafter". The additional capital it has raised will be used 
to strengthen the marketing and promotion of the motor and its
derivatives. CEO director Ross Green says "some announcements" would be made 
soon.

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