MTI Global Inc.
TSX : MTI

MTI Global Inc.

July 18, 2007 08:00 ET

MTI Announces Departure of CFO

John Boots to leave July 31, 2007 for position with Toronto Blue Jays

MISSISSAUGA, ONTARIO--(Marketwire - July 18, 2007) - MTI Global Inc. (MTI) (TSX:MTI) announced today that Senior Vice President and Chief Financial Officer John Boots will be leaving the company effective July 31, 2007 to take up a senior finance position within the Toronto Blue Jays organization.

President and Chief Executive Officer Bill Neill commented: "John has made an exceptional contribution to MTI Global in his four years with the company. He has helped manage our finances through a period of growth, acquisition and diversification that has placed the company on a stronger footing. We wish him the very best in his new position."

The search for a new CFO has started. In the interim, John's duties will be assumed by Bill Neill and supported by Corporate Controller Aaron Williams and Controller Alex Donath until a replacement has been named.

About MTI Global

MTI Global Inc. (TSX:MTI) designs, develops and manufactures custom-engineered products using silicone and other cellular materials. The Company serves a variety of specialty markets focused on three main product categories: Silicone, Aerospace and Fabricated Products. MTI's manufacturing divisions develop and produce silicone foam using patented technology. The Company designs and fabricates energy management systems from a variety of flexible, cellular materials. MTI also produces and distributes specialty silicone elastomer products. MTI's primary markets are aerospace and mass transit. Secondary markets include sporting goods, automotive, industrial, institutional, electronics, and the medical market through a 51% interest in Sterne SARL of Cavaillon, France. MTI's head office and Canadian manufacturing operations are located in Mississauga, Ontario, with international manufacturing operations located in Richmond and Buchanan, Virginia; Pensacola, Florida; Bremen, Germany; and a joint venture in Baja, Mexico. The Company also has sales operations in England and Sweden, and an engineering support centre in Brazil. The company's website is www.mtiglobalinc.com.

The foregoing press release contains forward-looking statements and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that could cause results or events to differ from current expectations include the impact of price and product competition, general industry and market conditions and growth rates and reliance on key customers. For additional information with respect to these and other factors, see the reports filed by MTI Global Inc. with the Ontario Securities Commission. MTI Global Inc. disclaims any intention or obligation to update or revise any forward-looking statements.

Contact Information

  • MTI Global Inc.
    Bill Neill
    President and CEO
    (905) 564-9700
    (905) 564-8886 (FAX)
    Email: mti@magnifoam.ca
    Website: www.mtiglobalinc.com
    or
    Fleishman-Hillard Canada
    Anne Lachance
    Investor Relations
    (416) 214-0701