If you have any questions for next week's webinar guest speakers (Pyx Resources, Helix Exploration, Fulcrum Metals and Metals One), please submit them here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGlobalworth Regulatory News (GWI)

Share Price Information for Globalworth (GWI)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2.60
Bid: 2.60
Ask: 2.66
Change: 0.02 (0.77%)
Spread: 0.06 (2.308%)
Open: 2.54
High: 2.60
Low: 2.54
Prev. Close: 2.61
GWI Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Re Contract

10 Jul 2007 07:00

Genesis Worldwide Inc.'s Light-Steel Framing Technology Introduced to Dubai's Booming Construction Industry

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRES OR FOR DISSEMINATION IN

THE UNITED STATES/

MISSISSAUGA, ON, July 10 /CNW/ - Genesis Worldwide Inc. ("Genesis"), TSX/AIM: GWI, a leading provider of green structural building technology using light-steel, announces the signing of a technology license and service agreement with Manazil Steel Framing Factory ("Manazil"), a newly formed subsidiary of Khalifa Al Fahad Company of Abu Dhabi, United Arab Emirates, an Emirates building construction company established in 1980.

Under the terms of the agreement, Manazil will establish a light-steel frame manufacturing plant in the industrial zone of Abu Dhabi using the Genesis solution, a turn-key solution which includes leading edge software, industrial equipment, hardware, processes and engineering services ("Genesis Solution"). The plant is scheduled to be operational by early 2008 and will address the market opportunities created by the construction boom in the UAE, especially in Dubai and Abu Dhabi.

Given Abu Dhabi's strategic location, this agreement will help Genesis emerge as a player in the building industry in the fast growing UAE market. Maged Mostafa, Vice President of Business Development for Genesis, sees this as a breakthrough for Genesis, as Manazil will be able to serve a large portion of the Gulf region from its new plant.

"The Genesis Solution allows for the custom design and manufacture of buildings six storeys or less. Its inherent flexibility will allow Manazil to offer builders in the UAE structural solutions that meet their architectural requirements, but in a much more efficient fashion," said Mostafa.

Manazil was attracted to the Genesis Solution as it provides a clear alternative to traditional methods and materials and offers an energy efficient, fire resistant, cost-effective and fast building solution. Manazil selected the Genesis Solution after carefully assessing other types of building materials and systems.

Ali Muhsin, Project Manager of Manazil stated, "We believe that working together with Genesis will be the best solution to achieve our goals and offer a new, smart, fully integrated turn-key approach and more simplified construction solution to the Middle East area." The first phase of production will include the manufacturing of 200,000 square meters of panels intended to build 500 modern villas.

According to Mohammad Khalifa Al Fahad Al Mehairi, Chairman of the Board of Manazil, the contract signed with Genesis is the first of its kind in the Arabian Gulf and Middle East region. Manazil will be the sole provider of Genesis building systems in the United Arab Emirates and Qatar.

With the introduction of the Genesis Solution into the Gulf Region, Manazil expects to revolutionize the local building industry and bring substantial benefits to the market, including a reduction of building costs and construction time. It will also increase the lifespan and overall quality of buildings compared with traditional types of building construction.

About Genesis Worldwide Inc.

Genesis is headquartered in Mississauga, Ontario, Canada and has licensees worldwide. 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". 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 Corporation'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 Corporation 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 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 or Erin Needra, Tel: +44 020 7050 6500 (GWI)

GENESIS WORLDWIDE INC
Date   Source Headline
18th Jul 20244:35 pmRNSResults of Tender Offers
11th Jul 20248:15 amRNSLaunch of Tender Offers for Bonds & Trading Updat
1st Jul 202412:01 pmRNSCredit Rating & Change of name of nomad
17th Jun 202410:18 amRNSResult of AGM
31st May 20243:03 pmRNSLogistics Sale Closing & Mandatory Bond Redemption
15th May 202410:14 amRNSNotice of AGM
7th May 202412:21 pmRNSBuyback of shares into treasury and TVR
26th Apr 20247:00 amRNSExchange Offer Final Settlement
22nd Apr 20244:35 pmRNSExchange Offer Final Results
11th Apr 20243:03 pmRNSIssue of Scrip Dividend Shares & Admission to AIM
10th Apr 202411:49 amRNSExchange Offer Early Exchange Deadline Results
3rd Apr 20247:00 amRNSSatisfaction of employee share awards and TVR
28th Mar 20244:25 pmRNSExchange Offer for Outstanding Notes 2025 and 2026
28th Mar 202412:00 pmRNSCorrection - Scrip Dividend Share Reference Price
28th Mar 20247:00 amRNSScrip Dividend Share Reference Price
26th Mar 20249:41 amRNSBuy back of Shares into Treasury and TVR
22nd Mar 20244:06 pmRNSPublication of Annual Report and Date of AGM
12th Mar 20244:04 pmRNSInterim Dividend & Scrip Alternative
11th Mar 20243:48 pmRNSTransfer of shares out of treasury
11th Mar 20243:35 pmRNSPreliminary results FY23
11th Mar 20243:03 pmRNSSale of part of logistics portfolio
24th Nov 202312:34 pmRNSS&P - 'BB+' Rating affirmed
27th Sep 20237:00 amRNSIssue of Scrip Dividend Shares & Admission to AIM
19th Sep 20237:00 amRNSHalf-year Report
14th Sep 20237:00 amRNSScrip Dividend Share Reference Price
30th Aug 20237:00 amRNSInterim Dividend & Scrip Alternative
29th Aug 20233:43 pmRNSNotice of Interim Results & Prelim Interim Results
4th Jul 20237:00 amRNSInvestment grade rating maintained - Correction
3rd Jul 20236:19 pmRNSFitch investment grade credit rating maintained
27th Jun 20232:25 pmRNSResults of Tender Offers
20th Jun 20239:22 amRNSTender Offers Launch for 2025 Notes & 2026 Notes
19th Jun 202310:55 amRNSResult of AGM
8th Jun 20239:27 amRNSMoody's Ratings Action and Withdrawal
17th May 20237:00 amRNSAGM Notice & Availability of Annual Report
14th Apr 20233:52 pmRNSDirectorate Change
4th Apr 202312:33 pmRNSIssue of Scrip Dividend Shares & Admission to AIM
31st Mar 20231:29 pmRNSBuy back of Shares into Treasury & TVR
24th Mar 20237:00 amRNSPosting of Annual Report and Date of AGM
23rd Mar 20237:00 amRNSScrip Dividend Share Reference Price
22nd Mar 20234:53 pmRNSS&P Rating Action
9th Mar 20234:35 pmRNSPrice Monitoring Extension
9th Mar 20233:10 pmRNSInterim Dividend & Scrip Alternative
8th Mar 202312:12 pmRNSTransfer of Shares out of Treasury
8th Mar 202311:59 amRNSResult of EGM
3rd Mar 20237:00 amRNSCondensed Unaudited Results for FY 31 Dec 2022
24th Feb 20234:44 pmRNSNotice of EGM
23rd Dec 202210:30 amRNSNew Financing Facilities with the Erste Group
19th Dec 20227:00 amRNSCarbon Emissions Reduction Commitment
21st Oct 20223:00 pmRNSCEO succession
20th Sep 20227:00 amRNSHalf-year Report

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.