Enablence Technologies Inc.

Enablence Technologies Inc.

March 31, 2010 16:20 ET

Enablence Technologies Inc. Announces Senior Management Changes

OTTAWA, ONTARIO--(Marketwire - March 31, 2010) - Enablence Technologies Inc. ("Enablence" orthe "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, announced today the separation of the positions of Chief Executive Officer ("CEO") and Chairman of the Board of Directors.

Effective April 15, 2010, Tim Thorsteinson will become the CEO of Enablence Technologies Inc., while Arvind Chhatbar will retain the position of Chairman of the Board of Directors. 

As Chairman, Mr. Chhatbar will continue to provide Enablence with a vision for continued growth, develop the strategies to effect that growth and identify new acquisition opportunities. Mr. Thorsteinson will join Mr. Chhatbar in the development of growth strategies and be responsible for executing those strategies through the overall management of the operations of the company. 

"This is a natural evolution in the development of Enablence," said Mr. Chhatbar. "As companies grow, they must continually evaluate the skill sets required to enhance the business and adjust them accordingly. Tim Thorsteinson, in his three months as Chief Operating Officer of Enablence, has rapidly identified the challenges Enablence faces and initiated the changes required to meet those challenges and elevate our operating performance. Tim brings proven success in the management of growing public companies and, together, we anticipate a bright future for Enablence and its stakeholders." 

"I am excited about taking on the additional responsibilities of Chief Executive Officer," said Mr. Thorsteinson. "We are well positioned in a market of considerable global opportunity and I am eager to guide Enablence in the successful execution of its growth strategies."

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. The Division's network equipment has been deployed with 420 service providers worldwide that serve over 4 million subscribers.

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 worldwide, 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.
    Ron Benn
    Chief Financial Officer