WINNIPEG, Feb. 7 /CNW/ - Executive Officer of Exchange Industrial Income
Fund ("EIIF" or the "Fund") is pleased to announce that it has hired Mr.
Darwin Sparrow as Vice-President and Chief Operating Officer of Manufacturing
for the investments within its manufacturing segment. With the recent
acquisition of Stainless Fabrication, Inc. in Springfield, Missouri, EIIF now
owns four separate niche manufacturing companies, including Jasper Tank,
Overlanders Manufacturing and Water Blast. The manufacturing segment now makes
up in excess of 50% of the Fund's subsidiary operations. Mr. Sparrow will be
responsible for the management and oversight of the overall segment and
entities within it. As well, he will work with the Presidents of these
companies to ensure that the Fund achieves the largest possible synergies
between the operations. His commencement in the position will be later in the
first quarter of 2008.
Mike Pyle, the President and CEO of the Fund, stated, "We have been able
to put together a group of dynamic companies within the manufacturing segment.
Our investments in this area have now reached the magnitude where we need a
dedicated senior executive to work with the management teams in each of the
entities in order to take advantage of all of the opportunities available to
us. We are very excited to have Darwin joining us. He has a proven track
record in managing manufacturing companies as the Vice-President and General
Manager of Western Reman Industrial. Western Reman has plants in Canada and
the USA, and as such, Darwin has experience in a multi plant cross border
Mr. Sparrow commented, "I am very excited about joining the team at EIIF.
They have built an impressive portfolio of manufacturing companies. I have
spent the last decade and a half at Western Reman, and have really enjoyed my
time there, but when the opportunity to put more of my skills and experience
into action at EIIF presented itself, it was an opportunity I simply could not
pass up. I look forward to working with our existing manufacturing companies,
as well as participating in the acquisition of others."
Additional information relating to the Fund, including all public
filings, is available on SEDAR (www.sedar.com).
The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.
Visit us at: www.eiif.ca.
For further information:
For further information: Mike Pyle, President and CEO, Exchange
Industrial Income Fund, 1067 Sherwin Road, Winnipeg, MB, R3H 0T8, Phone: (204)
982-1850, Fax: (204) 982-1855, E-mail: email@example.com