Genesis Worldwide Inc.
TSX : GWI

Genesis Worldwide Inc.

October 22, 2009 10:36 ET

GenesisTP Inc., A Division of Genesis Worldwide Inc., Earns International Code Council Certification

Opens Door to New Construction Projects

MISSISSAUGA, ONTARIO--(Marketwire - Oct. 22, 2009) - Genesis Worldwide Inc. ("Genesis" or the "Corporation"), (TSX:GWI), a leading provider of "green" structural building products and technology in the light steel structural products industry, today announced that its GenesisTP division has achieved certification of its coil-to-panel (CTP) process and components by the International Code Council (ICC).

The International Code Council, established in 1994, is an association dedicated to building codes that enhance safety and fire prevention. The Council develops the codes used to construct residential and commercial buildings, including homes and schools—all important markets for Genesis. The ICC's stated public vision is to protect the health, safety and welfare of individuals by creating better buildings and safer communities, which parallel key business objectives set forth by Genesis. Most U.S. cities, counties, and states that adopt codes choose the International Codes developed by the International Code Council.

Genesis, a leader in providing light steel framing solutions in the commercial, residential and institutional building markets, recognized that ICC certification was important to its growth plans and embarked on obtaining this certification several months ago. Acquiring certification was a lengthy, detailed and comprehensive process that required extensive documentation and an audit of Genesis' technology. Importantly, Genesis demonstrated an ability to meet the standards set out by the ICC.

Genesis believes that receiving the ICC-ES Evaluation Report (ESR-2849) is an important hurdle to overcome, and Genesis' licensees will now be better positioned to target certain types of building projects, particularly in the key U.S. markets that require ICC certification. Certain projects in the U.S., most notably government stimulus projects, mandate that only those products with an ICC certification can be used. As a result, obtaining this certification will help Genesis' licensees win the types of projects that were previously unavailable to them, and to penetrate new and important markets. The certification provides one more important competitive advantage for Genesis and its licensees as the Company continues to grow its business in the U.S. market, and globally.

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
    (905) 832-9286