20-20 Technologies Inc.
TSX : TWT

20-20 Technologies Inc.

October 25, 2007 08:00 ET

20-20 Technologies Gears Up Its Manufacturing Solutions and European Organizations for Accelerated Growth

LAVAL, QUEBEC--(Marketwire - Oct. 25, 2007) - 20-20 Technologies Inc. (TSX:TWT) today announced it will strengthen its manufacturing operations, European sales force and corporate human resources teams with the following key appointments of well known industry executives:

- Craig Yamauchi joins 20-20 as Executive Vice President, Manufacturing Solutions for North America

- Klaus Gueniker is appointed Vice President Manufacturing Operations worldwide; he will now be based in Germany

- Joerg Witthus is appointed Executive Vice President for Europe

- Claude Reeves joins 20-20 as corporate Human Resources Director

In his previous role as CEO of Friedman Corporation, a US-based software company providing ERP solutions to the building materials industry, Mr. Yamauchi successfully demonstrated his ability to develop and implement winning growth strategies for software companies. He will lead the manufacturing solutions sales and services teams in North America, for both residential and commercial furniture markets.

"By combining the resources of Virtual Systems, MBI and Pattern Systems, 20-20 has assembled the best sales and service organization in the North American furniture manufacturing industry now all under the leadership of Craig Yamauchi," said Jean Mignault, CEO and Co-Chairman of the Board of 20-20.

Following the successful integration of 20-20's Manufacturing Solutions teams, 20-20 is creating a global Manufacturing Solutions operations team by integrating all its product management and R&D teams, worldwide, under a unified direction. Klaus Gueniker has been appointed to head all Manufacturing Solutions product management and R&D teams, while actively supporting the development of 20-20's manufacturing solutions business worldwide. Mr. Gueniker, founder of Virtual Systems International (VSI), designed and architected inSight, the industry's first and most innovative Enterprise Manufacturing Solution that, since 2004, has been adopted by over 50 companies in the residential and commercial furniture markets across North America.

"These unrivaled operations teams will leverage the strength of our global presence by allocating the finest possible resources to each project, and ensuring the continuous evolution and convergence of our wide ranging and unique portfolio of Manufacturing Solutions products," said Jean-Francois Grou, President and COO of 20-20 Technologies Inc.

Joerg Witthus co-founded MBI Software Company, growing company revenue to EURO 23M annually and from three to 280 employees, all in less than 10 years. He successfully signed 100 new ERP customers in Austria, Germany, Switzerland and the Benelux, prior to the company's acquisition by 20-20 in 2005. Mr. Witthus will be in charge of all our sales and services teams in Europe for both point-of-sales and manufacturing solutions.

"As our European operations continue to grow, consolidating our assets under a unified management organization will ensure optimal execution of our regional growth strategies, both organically and through acquisitions," added Jean Mignault.

To support its worldwide growth objectives, 20-20 must develop a strong corporate function in human resources. To accomplish this, Claude Reeves joins the Company with over 25 years experience as a human resources professional and manager, with companies such as IBM and most recently Ubisoft, a world renowned video game studio in Montreal.

"Each appointment contributes to 20-20's strategy of accelerated growth, further strengthening our specialized management teams; combined with new cost control measures, this will enhance 20-20's financial performance in response to market challenges, including pressure on our costs, in Canadian dollars," said Jean-Francois Grou.

About 20-20 Technologies Inc.

20-20 Technologies is the world's leading provider of computer-aided design, business and manufacturing software solutions tailored for the interior design and furniture industries. Dealers and retailers use its desktop and Web-based products and solutions for the residential and commercial markets. 20-20 offers a unique proprietary end to end solution, integrating the entire breadth of functions in interior design through one platform. It provides electronic data communication from point-of-sale software programs to manufacturing and world-leading enterprise resource planning (ERP) systems, including computer-aided engineering and plant floor automation software. Operating in 13 countries with more than 500 employees, 20-20 is a publicly traded company (TWT) on the Toronto Stock Exchange (TSX) and celebrates this year, its 20th anniversary. For more information, visit www.2020Technologies.com.

Forward Looking Statements

Certain statements contained in this press release constitute forward-looking information within the meaning of securities laws.

Implicit in this information, particularly in respect of future operating results and economic performance of the Company are assumptions regarding projected revenues and expenses. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual future operating results and economic performance of the Company are subject to a number of risks and uncertainties, including general economic, market and business conditions and could differ materially from what is currently expected.

For more exhaustive information on these risks and uncertainties you should refer to our most recently filed Annual Information Form which is available at www.sedar.com. Forward-looking information contained in this report is based on management's current estimates, expectations and projections, which Management believes are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it is under no obligation and does not undertake to update this information at any particular time, unless required by applicable securities law.

Contact Information

  • Investor relations:
    20-20 Technologies Inc.
    Jean-Francois Grou
    President and COO
    (514) 332-4110
    or
    Media relations:
    20-20 Technologies Inc.
    Marilena Varano
    Marketing Communications Specialist
    (514) 332-4110
    Website: www.2020Technologies.com