Genesis Worldwide Inc.
TSX : GWI

Genesis Worldwide Inc.

November 05, 2009 08:32 ET

Genesis Worldwide Inc. Announces the Resignation of Its President and Chief Executive Officer

MISSISSAUGA, ONTARIO--(Marketwire - Nov. 5, 2009) - Genesis Worldwide Inc. ("Genesis" or the "Company"), (TSX:GWI), today announced the resignation of Vince Mifsud as the President and Chief Executive Officer and a Director of the Company, effective November 13, 2009. GenesisTP Inc., the Company's technology business, will continue to be led by Maged Mostafa, Chief Operating Officer, and KML Engineered Homes Ltd., the Company's structural products business, will continue to be led by Brett Huntington, Vice-President, Operations. Pat Zita continues to support these businesses as the Company's Vice-President, Finance.

The Board of Directors would like to thank Mr. Mifsud for his years of service and contributions to the Company and wish him well in his future endeavours.

About Genesis Worldwide Inc.

Genesis is a leading provider of green light steel building products, systems and technology targeted at the global commercial, residential and institutional building sectors. Genesis delivers customized turnkey structural solutions including innovative light steel products, and provides software packages, industrial equipment, training programs, professional services and support to licensees globally. Headquartered in the Greater Toronto Area in Ontario, Canada, Genesis has established a network of partners with engineering, manufacturing and distribution operations in Canada, the United States, the Middle East, Eastern Europe and Russia. For additional information about the Company, visit www.genesisworldwide.com.

Caution Regarding Forward-Looking Information

Certain statements in this press release which are not historical facts constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements") and are made pursuant to the "safe harbour" provisions of such laws. Statements related to the Company's projected revenues, earnings, growth rates, performance, business prospects and opportunities are forward-looking statements, as are any statements relating to future events, conditions or circumstances. The use of terms such as "may", "will", "should", "plan", "believes", "predict", "potential", "anticipate", "expect", "project", "target", "estimate", "continue", and similar terms are intended to assist in identification of these forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects, and opportunities. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect.

Readers are cautioned not to place undue reliance upon any such forward-looking statements. Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause the actual results, performance or achievements of the Company to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements.

Many factors could cause the actual results of the Company to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements, including, without limitation, those factors discussed under the heading "Risk Factors" in the Company's most recent Annual Information Form ("AIF"), a copy of which is available on SEDAR at www.sedar.com.

Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and the Company does not undertake any obligation to update forward-looking statements, except required by law, should assumptions related to these plans, estimates, projections, beliefs and opinions change.

Contact Information

  • Genesis Worldwide Inc.
    Catherine Smyth
    Manager, Investor Relations
    (647) 295-2284