Genesis Worldwide Inc.
TSX : GWI
AIM : GWI

Genesis Worldwide Inc.

June 10, 2008 10:02 ET

Genesis Structural Products Division Signs New Deal in Ontario, Canada Market

Expands beyond GTA Market into Cottage Country with Collingwood's Cranberry Mews

MISSISSAUGA, ONTARIO--(Marketwire - June 10, 2008) - Genesis Worldwide Inc. ("Genesis" or the "Company"), (TSX:GWI)(AIM:GWI), an industry leader in "green" structural building technologies using light steel, today announced that its Genesis Products Division and subsidiary, KML Engineered Homes Ltd. (doing business as KML Building Solutions) ("KML"), will supply light steel framing needs for its new customer, Rockpoint Homes, of Concord, Ontario, Canada.

Rockpoint Homes is building Cranberry Mews, a 42,200 square foot commercial plaza in Collingwood, Ontario, Canada. This retail plaza will consist of four independent one-storey buildings constructed of Genesis light gauge steel trusses and panels. Utilizing the "Genesis Solution", a turn-key solution which includes leading edge software, industrial equipment, hardware, processes and engineering services, KML will produce and install light steel frame panels for Cranberry Mews. Site work has begun and the Company anticipates this project will be completed by the end of September 2008.

KML is able to manufacture and build high-quality steel trusses quickly and efficiently in the company's Vaughan plant year round. John D'Angelo, President and owner of Rockpoint Homes, praised KML's productivity. "We are delighted to develop this relationship with KML Building Solutions. We know their reputation. The superior quality of their steel trusses and panels will be evident in our new buildings," said D'Angelo. "We see a successful partnership ahead. They are a successful Canadian company that is demonstrating strength in the global marketplace," added D'Angelo.

KML President, Jack Scivoletto, said the agreement with Rockpoint Homes is another important opportunity to demonstrate the high quality, consistency and cost effectiveness of Genesis light steel structures to the Ontario market. "Collingwood is a booming town and is expanding rapidly," commented Scivoletto. "The beauty of our product is that we can cost-effectively ship within four hours of our facility, which allows us to provide light gauge steel trusses and panels to the growing markets outside the core Greater Toronto Area (GTA) region. These regions typically suffer from not having easily available sub-trades. We build 80% of our product in our own plant, and, as a result, production and erection time is significantly quicker than in the traditional building solution. We are able to offer 'just in time' production and delivery."

About KML Building Solutions

KML utilizes Genesis' framing technology to provide builders with higher quality, faster and more cost effective framing solutions than the traditional framing methods of the past. Innovative light steel building materials and a fully integrated "turn-key approach" to framing construction sets KML apart and provides builders with a more simplified building process with considerably less risk. With over 20,000 residential and commercial buildings constructed in North America, KML has become a leading light steel framing innovator and provider in the world today. KML's manufacturing facility is located in Vaughan, Ontario, Canada and is Genesis' first Canadian licensee. For additional information about KML, visit www.kmlbuildingsolutions.com.

About Genesis Worldwide Inc.

Genesis develops and licenses structural building technology aimed at the residential, commercial and institutional building markets. Genesis offers licensees a turn-key solution enabling them to custom design, manufacture and install complete light steel building structures. The Genesis Solution encompasses engineered processes and materials that are environmentally sustainable or "green". Genesis is headquartered in Mississauga, Ontario, Canada and currently has nine licensees worldwide. 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 should assumptions related to these plans, estimates, projections, beliefs and opinions change.

Contact Information

  • Genesis Worldwide Inc.
    Catherine Smyth
    Manager, Investor Relations
    (905) 285-9909, ext. 302
    Website: www.genesisworldwide.com
    or
    Canaccord Adams
    Robert Finlay
    +44 020 7050 6500