MISSISSAUGA, ON, Sept. 12 /CNW/ - Genesis Worldwide Inc. ("Genesis" or
the "Company"), (TSX/AIM: GWI), a leading provider of "green" structural
building technology using light steel, today announced that Genesis
subsidiary, KML Engineered Homes Ltd. (doing business as KML Building
Solutions) ("KML"), has been contracted by AON Builders Inc. ("AON") to
engineer and construct a new environmentally responsible retirement residence
in Peterborough, Ontario.
Canterbury Gardens, AON's newest retirement community, will be comprised
of 30 garden suites, in addition to more than 100 traditional retirement
suites. Construction will begin in October, 2007, and will be completed in
Using the "Genesis Solution", a turn-key solution which includes leading
edge software, industrial equipment, hardware, processes and engineering
services, KML will build an environmentally conscious, energy efficient
retirement residence that will provide a high quality, safe living
AON Executive Vice President, Brad R. Smith, sees the introduction of
Genesis "green" structural building technology as a positive step forward in
the construction industry, in particular with the building of facilities that
affect the lives of senior citizens. Air quality remains superior because
light steel buildings are allergen-free, mould-free and toxin-free. Light
steel is also fire resistant, a significant safety benefit.
"We look forward to seeing Canterbury Gardens become a reality for the
seniors of Peterborough. Through the use of Genesis light steel structural
building technology we will be providing a superior, safe living environment
for our residents," commented Mr. Smith.
Genesis President and CEO, Vince Mifsud, outlined that the forging of
this new partnership with AON is yet another important milestone for Genesis.
"We are delighted to have AON as a new customer and to be bringing the Genesis
light steel structural technology to the Peterborough area. Canterbury Gardens
will prove to be a great building and we look forward to executing this
project for them."
Mr. Mifsud added that with new business partners such as AON, KML's goal
is to continue to expand and grow their business throughout the Ontario
market. By utilizing Genesis "green" structural building technology, KML is
able to provide builders with higher quality, faster and more cost effective
framing solutions than the more traditional framing methods.
KML operates a manufacturing facility in Vaughan, Ontario, and is
GenesisTP Inc.'s first Canadian licensee. GenesisTP is also a subsidiary of
AON is a full service construction company headquartered in the
Peterborough area since 1968 and is the exclusive General Contractor for AON
Inc. AON is well recognized for its commitment to the building of premier
retirement living communities, and excels in the development and management of
communities for people, creating innovative properties for retirement and
health services, residential living, business, and leisure. AON is proud of
its history as a family of employees who deliver quality service and care
through dynamic options for living well.
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.
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:
For further information: Genesis Worldwide Inc., Catherine Smyth,
Manager, Investor Relations, Tel: (905) 285-9909 ext 302, or Canaccord Adams,
Robert Finlay, Erin Needra, Tel: +44 020 7050 6500