Globalworth Regulatory News (GWI)

29 Oct 2007 14:50

Genesis Worldwide Inc. appoints new president for KML Building Solutions

MISSISSAUGA, ON, Oct. 29 /CNW/ - Genesis Worldwide Inc. ("Genesis" or the "Company"), , a leading provider of 'green' structural building technology using light steel, is pleased to announce that Jack Scivoletto has been appointed President of KML Engineered Homes Ltd. (doing business as KML Building Solutions) ("KML"), a subsidiary of Genesis Worldwide Inc.

Mr. Scivoletto brings to KML vast experience in the construction industry. He began his business career in 1984 with a family-owned framing and construction business. He has worked with many successful builders helping to create new communities for thousands of families. Over the course of the last 23 years, Mr. Scivoletto has developed an outstanding reputation as one of the top framing contractors in Ontario, Canada. He has managed his own business which has involved land acquisition, land development, financing, and final build out.

According to Mr. Scivoletto, the light steel structural framing industry is setting the new standard in quality. "I believe Genesis' light steel structural framing system is the future of building in a construction industry that has a shortage of skilled tradesmen that build with the old traditional methods," Mr. Scivoletto said.

"I am also excited about the opportunity the Company has to take a continued leadership role in environmental responsibility. Joining KML allows me to be a part of a truly 'green' future with a product that is environmentally sustainable," he added.

Mr. Scivoletto will report directly to Vince Mifsud, President and CEO of Genesis. Mr. Mifsud sees the appointment of Mr. Scivoletto, with his diverse background in construction, as the perfect blending of traditional building expertise with the new building techniques offered by Genesis and KML in the 21st century.

"I am very pleased that Mr. Scivoletto has joined our team. I believe he will help us grow and expand our Company's products division which is an important aspect of our overall growth strategy. Mr. Scivoletto is much respected and has significant contacts with builders in the Greater Toronto Area market, which should help us increase our access to these builders," said Mr. Mifsud.

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 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; Canaccord Adams, Robert Finlay, Erin Needra, Tel: +44 020 7050 6500 (GWI GWI.)