Globalworth Regulatory News (GWI)

12 Sep 2007 12:00

Genesis Worldwide Inc. announces expansion into Eastern Ontario Region Building market

MISSISSAUGA, ON, Sept. 12 /CNW/ - Genesis Worldwide Inc. ("Genesis" or the "Company"), , a leading provider of "green" structural building technology using light steel, today announced that Genesis subsidiary, KML Engineered Homes Ltd. (doing business as KML Building Solutions) ("KML"), has been contracted by AON Builders Inc. ("AON") to engineer and construct a new environmentally responsible retirement residence in Peterborough, Ontario.

Canterbury Gardens, AON's newest retirement community, will be comprised of 30 garden suites, in addition to more than 100 traditional retirement suites. Construction will begin in October, 2007, and will be completed in 2008.

Using the "Genesis Solution", a turn-key solution which includes leading edge software, industrial equipment, hardware, processes and engineering services, KML will build an environmentally conscious, energy efficient retirement residence that will provide a high quality, safe living environment.

AON Executive Vice President, Brad R. Smith, sees the introduction of Genesis "green" structural building technology as a positive step forward in the construction industry, in particular with the building of facilities that affect the lives of senior citizens. Air quality remains superior because light steel buildings are allergen-free, mould-free and toxin-free. Light steel is also fire resistant, a significant safety benefit.

"We look forward to seeing Canterbury Gardens become a reality for the seniors of Peterborough. Through the use of Genesis light steel structural building technology we will be providing a superior, safe living environment for our residents," commented Mr. Smith.

Genesis President and CEO, Vince Mifsud, outlined that the forging of this new partnership with AON is yet another important milestone for Genesis. "We are delighted to have AON as a new customer and to be bringing the Genesis light steel structural technology to the Peterborough area. Canterbury Gardens will prove to be a great building and we look forward to executing this project for them."

Mr. Mifsud added that with new business partners such as AON, KML's goal is to continue to expand and grow their business throughout the Ontario market. By utilizing Genesis "green" structural building technology, KML is able to provide builders with higher quality, faster and more cost effective framing solutions than the more traditional framing methods.

KML operates a manufacturing facility in Vaughan, Ontario, and is GenesisTP Inc.'s first Canadian licensee. GenesisTP is also a subsidiary of Genesis Worldwide.

AON is a full service construction company headquartered in the Peterborough area since 1968 and is the exclusive General Contractor for AON Inc. AON is well recognized for its commitment to the building of premier retirement living communities, and excels in the development and management of communities for people, creating innovative properties for retirement and health services, residential living, business, and leisure. AON is proud of its history as a family of employees who deliver quality service and care through dynamic options for living well.

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 seven licensees worldwide. For additional information about the Company, visit www.genesisworldwide.com.

Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to the Company's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities. While the Company considers these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what we currently expect. These factors include changes in market and competition, governmental or regulatory developments and general economic conditions. Additional information identifying risks and uncertainties relating to the Company, its business and prospects are contained in Genesis' prospectus filed with the Canadian securities regulatory authorities, available at www.sedar.com.

For further information: Genesis Worldwide Inc., Catherine Smyth, Manager, Investor Relations, Tel: (905) 285-9909 ext 302, or Canaccord Adams, Robert Finlay, Erin Needra, Tel: +44 020 7050 6500 (GWI)