/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
Stock Symbol: TSX: NCT.U
TORONTO, March 7 /CNW/ - 180 Connect Inc. ("180 Connect" or the
"Company"), North America's largest provider of installation, integration and
fulfillment services to the home entertainment, communication, and home
integration service industries today announced that Mr. M. Brian McCarthy has
agreed to extend his full time position of Executive Chairman of the Board of
Directors for three years. Previously, in March of 2006, Mr. McCarthy was
appointed Executive Chairman for an interim period to lead the execution and
turnaround of the business. Mr. McCarthy's contract extension is effective
"The last 12 months have been excellent in all respects," said Mr. Brian
McCarthy, Executive Chairman of 180 Connect. "We completed and have in process
a number of significant initiatives. We shored up our debt refinancing,
strengthened our relationships with our major customers and streamlined our
operations. In addition, we delivered meaningful growth in revenues and
operating margins as well as increased cash from operations," continued Mr.
McCarthy. "We are pleased that the market has recognized some of the value of
what 180 Connect has achieved over this last year and now more than ever, I am
very excited about the business prospects for our Company and the direct
correlation between these prospects and solid earnings performance."
Mr. McCarthy served as Executive Vice President of Technology and
Business Strategy at General Electric Security Inc. and as President,
Integrated Systems Division of GE Interlogix. Before that, Mr. McCarthy served
as Chief Executive Officer, Americas at Interlogix, Inc. (Nasdaq: ILXI) prior
to that company's acquisition by General Electric. In addition, he served in
several senior executive roles with ADT Ltd. for over 15 years and was the
Senior Vice President of Operations for ADT Ltd. when he left that company.
Currently, Mr. McCarthy holds other unrelated board seats as well as being an
Advisory Director for the National Crime Prevention Council in Washington DC.
He currently acts as a consultant with McCarthy and Associates LLB based in
Scottsdale, Arizona. Mr. McCarthy is a graduate of Queen's University and
holds a masters degree in Systems Design Engineering from the graduate school
of Engineering, University of Waterloo, both in Canada.
180 Connect Inc.
180 Connect Inc. is North America's largest provider of installation,
integration and fulfillment services to the home entertainment, communications
and home integration service industries. With more than 3,500 skilled
technicians and 700 support personnel based in over 97 operating locations,
180 Connect is well positioned as the only pure play national residential
service provider in the market. 180 Connect Inc. shares are traded under the
name of 180 Connect Inc. on the TSX under the symbol NCT.U.
For Information please contact Investor Relations or visit our website at
This news release contains forward-looking statements which reflect
Management's current expectations regarding the Corporation's future growth,
results of operations, performance and business prospects and opportunities.
Statements about the Corporation's future plans and intentions, results,
levels of activity, performance, goals or achievements or other future events
constitute forward-looking statements. These statements reflect Management's
current beliefs and are based on information currently available to
Management. Forward-looking statements involve significant risk, uncertainties
and assumptions. Many factors could cause actual results, performance or
achievements to differ materially from the results discussed or implied in the
forward-looking statements. Reference should be made to the Corporation's
Annual Information Form for a description of the risks and uncertainties
facing the Corporation. These risks and uncertainties should be considered
carefully and prospective investors should not place undue reliance on the
forward-looking statements. Although the forward-looking statements contained
in this news release are based upon what Management believes to be reasonable
assumptions, the Corporation cannot assure that actual results will be
consistent with these forward-looking statements.
For further information:
For further information: Director Investor Relations: Claudia A. Di
Maio, 180 Connect Inc., DIRECT LINE: (416) 930-7710, TEL: (866) 995-8888,