Commissioning of Production Facility

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[{"type":"text","content":"\n \nGenesis Worldwide Inc. Announces Commissioning of New Production Facility in\nSpain\n\n School Renovation First Major Project for Genesis' Spain Licensee\n\n MISSISSAUGA, ON, Oct. 4 /CNW/ - Genesis Worldwide Inc. (\"Genesis\" or the\n\"Company\"), (TSX/AIM: GWI), a leader in \"green\" structural building technology\naimed at the residential, commercial and institutional building markets, today\nannounced the commissioning of the new production facility of its licensee,\nIndustrias Alcuadrado S.L. (\"Alcuadrado\"). Alcuadrado is an architectural\ndesign and building firm located in Barcelona, Spain. Using the Genesis\nSolution, a turn-key solution which includes leading edge software, industrial\nequipment, hardware, processes and engineering services, the Alcuadrado plant\nwill produce light steel structural panels. Genesis light steel structural\ntechnology is ecologically responsible in the way that it uses recyclable\nmaterials. There is minimal waste in the manufacturing process which creates\nless stress on the environment.\n In addition to the upfront licensing fee, Genesis will receive ongoing\nquarterly royalty fees from Alcuadrado, including fees from the sale of\nmanufacturing equipment, and for services provided by Genesis such as\ntraining, engineering and support when required.\n Genesis President and CEO, Vince Mifsud, sees the commissioning of the\nAlcuadrado plant as another significant step in Genesis' growth strategy.\n\"This is an important milestone in the growth strategy of our company, which\nis to expand our licensees globally. Europe is an important market and we\nexpect that the commissioning of this facility will mark the start of other\nEuropean licensees following suit.\" Mr. Mifsud added, \"This is the second\nplant that we have commissioned in 2007 and is another step towards reaching\nour goal of commissioning three plants by the end of the year.\"\n On the heels of their success as a Genesis distributor, Alcuadrado\nmanagement saw a timely opportunity in 2006 for increased business\nopportunities by becoming a licensee of Genesis' technology and services. It\nmade sound financial sense for them to open a plant to produce their own light\nsteel panels for the architecturally-designed homes and buildings that they\nhave become known for.\n With the commissioning of the new plant, Alcuadrado is ...

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