March 13, 2007 14:47 ET

Granby Industries Income Fund Announces the Appointment of Pierre Cote as Vice President, Sales & Marketing

GRANBY, QUEBEC--(CCNMatthews - March 13, 2007) - Granby Industries Income Fund (TSX:GBY.UN) ("Granby" or "the Fund") announced the appointment of Pierre Cote to the position of Vice President, Sales & Marketing, effective March 26, 2007. Pierre will be based in Granby, Quebec.

Pierre has 20 years experience in sales and business development acquired in various high profile companies such as Procter & Gamble, Pepsi Cola, Tropicana and Sleeman Brewery. His most recent position was that of Vice President Sales Canada, Wholesale and Boutique, at MAAX Corporation.

In his new role, Pierre is responsible for the execution of the sales strategy including business development of the oil tanks market and the Kamco coated copper tubing business. He will report to Pierre Fournier, President & Chief Operating Officer.

About Granby Industries Income Fund

Granby Industries Income Fund is an open-ended, limited purpose trust established under the laws of the Province of Ontario, which indirectly holds an 80 % interest in Granby Industries Limited Partnership ("Granby Industries"). Granby Industries is a leading North American manufacturer of high quality tanks for the residential and light commercial storage of heating oil and other petroleum-based products and is also a leading manufacturer of coated copper tubing. Granby Industries has been operating in the heating oil storage tank industry for more than 50 years and its primary business is manufacturing replacement residential tanks with operations in Granby, Quebec and Oakville, Ontario.

Forward-Looking Statements

This press release may contain forward-looking statements, which reflect management's expectations regarding the Fund's future growth, results of operations, performance, business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Many factors could cause results to differ materially from the results discussed in the forward-looking statements, including risks related to dependence on key suppliers, economic conditions, competition, regulatory change, foreign exchange rates and interest rates, among others. Although the forward-looking statements are based on what management believes to be reasonable assumptions, the Fund cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and accordingly, the Fund assumes no obligation to update or revise them to reflect new events or circumstances.

Contact Information

  • Granby Industries Income Fund
    Mr. Paul Antoniadis CA
    Vice President, Finance & CFO
    450-378-2334 ext. 225