Toronto Stock Exchange Symbol: GIN
OAKVILLE, ON, June 1 /CNW/ - Glendale International Corp. (TSX: GIN)
today reported the appointment of Mr. Murray Hannan as its Chief Financial
As part of Glendale's ongoing restructuring and cost rationalization, Mr.
Brian Jennings has agreed to resign as the Corporation's Chief Financial
Officer and will be replaced on a part time basis by Mr. Hannan.
"We are very disappointed with Mr. Jennings' departure as a member of the
executive management team, but reducing costs at all levels of our business
given the current economic environment is necessary," said Mr. Edward Hanna
the CEO of Glendale. Mr. Hanna also indicated that "we are fortunate that Mr.
Hannan, a member of the Board of Directors and former CFO of the Corporation,
has agreed to assume the role on a part time basis which will make the
transition from Mr. Jennings seamless."
About Glendale International Corp.
Glendale International Corp. manages businesses that provide the
opportunity for long-term value creation through the application of proven
managerial expertise and innovative business strategies. The Corporation owns
businesses in the recreational vehicles and electronics industries, and will
seek to acquire complementary businesses that support its value-building
Glendale's Recreational Vehicle business is comprised of two operating
divisions: Glendale Recreational Vehicles ("Glendale RV") located in
Strathroy, Ontario and Travelaire Canada ("Travelaire") located in Red Deer,
Alberta. Glendale RV manufactures a broad range of innovative, differentiated
high-quality Recreational Vehicles ("RV's") for both the US and Canadian
markets and Travelaire manufactures Park Model trailers and Relocatable
Structures for the Western Canadian market place. The Corporation also owns
43.6% of Firan Technology Group Corporation, a leading North American
manufacturer of high technology printed circuit boards and precision
illuminated display systems.
Glendale International's common shares are listed on the Toronto Stock
Exchange ("TSX") under the symbol "GIN". The Corporation has 12,487,017 common
To reach Glendale International via the worldwide web logon to
This press release contains "forward-looking" statements related to
future events or future performance and reflect the expectations of Glendale
International Corp., regarding its growth, results of operations, performance
and business prospects, and opportunities and trends affecting the
recreational vehicles, and electronics industries. Such forward-looking
statements reflect current beliefs of management and are based on information
currently available. In certain cases, forward-looking statements can be
identified by the use of words such as "believe", "expects", "will",
"intends", "projects", "anticipates", "estimates", "continues" or similar
words or the negative of these or other comparable terminology. Readers are
cautioned that forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from any future results, performance
or achievements expressed or implied by the forward-looking information.
Accordingly, investors should not place undue reliance on forward-looking
information. Any forward-looking statements included in this press release are
made as of the date of this press release and Glendale International Corp.
assumes no obligation to update or revise them to reflect new events or
For further information:
For further information: Edward C. Hanna, Chief Executive Officer and
Chairman, Glendale International Corp., (905) 844-2870, (289) 291-4001 fax,