Doc re Genesis Worldwide Inc. Products Division...

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[{"type":"text","content":"\n \n\nFOR: GENESIS WORLDWIDE INC.\n\nTSX, AIM SYMBOL: GWI\n\nFebruary 12, 2008\n\nGenesis Worldwide Inc. Products Division-KML Building Solutions-Commences Site Installation of One of\nIts Largest Construction Projects\n\nKML to Provide 700,000 Square Feet of Light Steel Framing for Remington Homes' Townhouse Development\n\nMISSISSAUGA, ONTARIO--(Marketwire - Feb. 12, 2008) - Genesis Worldwide Inc. (\"Genesis\" or the\n\"Company\"), (TSX:GWI)(AIM:GWI), a leading provider of \"green\" structural building technology using\nlight steel, today announced that its Genesis Products Division and subsidiary, KML Engineered Homes\nLtd. (doing business as KML Building Solutions) (\"KML\"), will provide light steel framing to build\nMarkham Centre Towns, for Remington Homes, Ontario's most accomplished real estate development\ncompany. Markham Centre Towns is part of Remington Homes' multi-year development project, Downtown\nMarkham Development, the largest mixed use development in Canada.\n\nThis transaction, valued at approximately $15.0 million, which the Company expects to earn over an 18\nmonth period, is one of the largest construction projects for KML in its history.\n\nRemington Homes is in the process of building a small 'European style city' in Markham, Ontario. The\nnew urban development is based on large European cities including Rome, London and Paris. The\ndevelopment will have a cosmopolitan city-centre that combines residential, shopping and dining\nexperiences within comfortable walking distance of one another. KML will produce and install the light\nsteel frame panels for 28 blocks (175 units) of townhomes that are each over 3,500 sq. feet in size.\nThese luxury townhomes will be priced at approximately $600,000. Site work has begun with the\ninstallation of the first block of townhomes, which consists of eight units per block. The Company\nanticipates that installation of these luxury townhomes will be completed by the end of 2009.\n\n\"We are delighted to begin our fourth project with Remington Homes. This is our largest project for\nKML. We have forged a tremendous partnership that will bring continued value and results for Genesis,\nKML and Remington Homes. This deal, and our ongoing partnership, reflects a serious commitment to\nbeing environmentally progressive leaders in the construction industry by both companies,...

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