Doc re Genesis Worldwide Inc. Products Division...
FOR: GENESIS WORLDWIDE INC.
TSX, AIM SYMBOL: GWI
February 12, 2008
Genesis Worldwide Inc. Products Division-KML Building Solutions-Commences Site Installation of One of
Its Largest Construction Projects
KML to Provide 700,000 Square Feet of Light Steel Framing for Remington Homes' Townhouse Development
MISSISSAUGA, ONTARIO--(Marketwire - Feb. 12, 2008) - Genesis Worldwide Inc. ("Genesis" or the
"Company"), (TSX:GWI)(AIM:GWI), a leading provider of "green" structural building technology using
light steel, today announced that its Genesis Products Division and subsidiary, KML Engineered Homes
Ltd. (doing business as KML Building Solutions) ("KML"), will provide light steel framing to build
Markham Centre Towns, for Remington Homes, Ontario's most accomplished real estate development
company. Markham Centre Towns is part of Remington Homes' multi-year development project, Downtown
Markham Development, the largest mixed use development in Canada.
This transaction, valued at approximately $15.0 million, which the Company expects to earn over an 18
month period, is one of the largest construction projects for KML in its history.
Remington Homes is in the process of building a small 'European style city' in Markham, Ontario. The
new urban development is based on large European cities including Rome, London and Paris. The
development will have a cosmopolitan city-centre that combines residential, shopping and dining
experiences within comfortable walking distance of one another. KML will produce and install the light
steel frame panels for 28 blocks (175 units) of townhomes that are each over 3,500 sq. feet in size.
These luxury townhomes will be priced at approximately $600,000. Site work has begun with the
installation of the first block of townhomes, which consists of eight units per block. The Company
anticipates that installation of these luxury townhomes will be completed by the end of 2009.
"We are delighted to begin our fourth project with Remington Homes. This is our largest project for
KML. We have forged a tremendous partnership that will bring continued value and results for Genesis,
KML and Remington Homes. This deal, and our ongoing partnership, reflects a serious commitment to
being environmentally progressive leaders in the construction industry by both companies," said
Genesis and KML CEO Vince Mifsud. "Genesis Worldwide is growing not only around the world, but also in
Canada. Increasing our work with Remington Homes is a large part of our growth strategy and
contributes significantly to our success domestically."
KML was chosen to supply all the light steel framing needs for the three-storey townhomes within the
development using the "Genesis Solution". As well as light steel wall panels, KML will manufacture and
install iSPAN(TM) floor and roof trusses, which in total will cover approximately 20% of the entire
construction of the townhomes.
iSPAN(TM) simplifies floor design and construction utilizing practical features. These features
include load distribution beams with "resting shelves" to aid easy installation, as well as joist
chords with snap-in bridging which facilitates installation and reduces on-site measuring. iSPAN's
optimized strength, superior performance and practical features make it the most trade-friendly light
steel floor framing system available.
Walter Zanutel, Vice President of Construction-Low Rise for Remington Homes, expressed his enthusiasm
for the deal. "Genesis has proven to be not only a strong partner, but a leader in the industry. We
are very proud of our product and particularly proud of this very unique development in Markham. We
are big believers in Genesis products and they have a proven track record with us."
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 eight 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.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Genesis Worldwide Inc.
Catherine Smyth
Manager, Investor Relations
(905) 285-9909, ext. 302
Website: www.genesisworldwide.com
OR
Canaccord Adams
Robert Finlay/Clayton Bush
+44 020 7050 6500
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Genesis Worldwide Inc.