Enablence Technologies Inc.

Enablence Technologies Inc.

September 22, 2010 09:13 ET

Enablence Appoints Industry Veteran as Its New CFO

OTTAWA, CANADA--(Marketwire - Sept. 22, 2010) - Enablence Technologies Inc. ("Enablence" or the "Company") (TSX VENTURE:ENA), a leading supplier of fiber-to-the-home (FTTH) equipment for triple-play residential and business services and optical components and subsystems for access, metro and long-haul markets, has appointed David Toews as the Company's new CFO, responsible for Enablence's strategic financial and investor relations functions.

"I am extremely pleased to welcome David Toews to the Enablence team," said Tim Thorsteinson, CEO of Enablence. "David was most recently VP Finance for the Broadcast Division of Harris Corporation and worked for me directly as CFO during the turnaround of Leitch Technology and after its subsequent sale to Harris. He brings the skill set and focus that will be required as we drive Enablence to profitable growth."

Toews is replacing Ron Benn who will be leaving Enablence at the end of October to pursue other opportunities. "I would like to thank Ron for his efforts in helping build Enablence into a $100-million-plus global technology company," added Thorsteinson.

Toews has more than 20 years experience in all aspects of accounting and financial management. During his five years with Harris, he drove a number of initiatives that resulted in dramatic efficiency improvements in the company's reporting processes and reduced costs by $40 million over a three-year period.

His previous experience also includes serving as VP Finance and CFO of Leitch prior to its acquisition by Harris, as CFO of Internet Sports Network Inc., and as VP Finance of EDM Electronic Direct Marketing Ltd./Teletech Canada.

"I look forward to working with the Enablence team and levering the company's unique strengths to become a major player in the global broadband access market," said Toews.

About Enablence Technologies Inc.

Enablence Technologies Inc., (TSX VENTURE:ENA) a publicly traded company headquartered in Ottawa, Canada, designs, manufactures and sells optical components, subsystems and systems to a global customer base.
Enablence's Systems Division has an expanding fiber-to-the-premise (FTTP) product portfolio featuring a variety of architectural options. It enables service providers to evolve their access networks from traditional copper-based networks to advanced optical communications access networks that are based on state of the art IP and Ethernet standards, for triple-play voice, video and data services including HDTV, IP Telephony and ultrafast internet access.

Enablence's Optical Components and Subsystems Division is a global leader in applying Planar Lightwave Circuit (PLC) technology to integrate multiple components into a single optical chip to reduce footprint and costs. Network and equipment designers around the world turn to Enablence for a variety of components and subsystems for access, metro and long-haul, including transceivers, splitters, waveguides, optical channel monitors, multiplexers, ROADMs, switches, tunable dispersion compensators, and photodiodes. The Division serves over 120 system and subsystem developers and its products have been integrated in all major communications networks world-wide, serving tens of millions of subscribers.

Forward Looking Statements

This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward looking statements. By their nature, forward looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution our readers of this press release not to place undue reliance on our forward looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's continuous disclosure documents that can be found on SEDAR www.sedar.com. Enablence does not intend, and disclaims any obligation, except as required by law, to update or revise any forward looking statements whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Enablence Technologies Inc.
    Tim Thorsteinson
    Chief Executive Officer