Business
Resin Systems Provides Manufacturing Transition Update
CALGARY, Aug. 6 /CNW/ - Resin Systems Inc. ("RS") (RS - TSX / RSSYF - OTCBB), a technology innova...
About this update from Real Estate Split Corp Class A
[{"type":"text","content":"\n\n\n\nCALGARY, Aug. 6 /CNW/ - Resin Systems Inc. ("RS") (RS - TSX / RSSYF -\nOTCBB), a technology innovator that develops advanced composite material\nproducts for infrastructure markets, announced today that the Ontario Superior\nCourt has finalized all legal requirements for appointing BDO Dunwoody LLP as\ninterim receiver for Global Composite Manufacturing Inc. ("GCM"). RS's access\nto the Tilbury, Ontario manufacturing facility is complete.\n\n\nRS applied to have the interim receiver appointed for GCM due to GCM's\nfailure to obtain the planned funding necessary to operate its business. The\nappointment of the interim receiver was the most orderly way to protect and\npreserve RS's assets, achieve a smooth transition of operations and ensure the\ncontinuation of production activities. Manufacturing will start immediately\nand RS's production targets for cell 1 and 2 remain unchanged. RS will not\nrequire additional funding to operate cells 1 and 2.\n\n\n"With production activities continuing, we have achieved our objective of\nseamlessly transferring the manufacturing operations in Tilbury," said Paul\nGiannelia, president and chief executive officer of RS. "We will continue to\nremain focused on increasing output and moving forward to grow our business."\n\n\nWebcast\n\n\nRS will hold a teleconference and webcast on Tuesday, August 12, 2008 at\n11 a.m. (EDT) / 9 a.m. (MDT) to discuss the Company's manufacturing and\nbusiness plans. The call will be hosted by Paul Giannelia, president and chief\nexecutive officer of RS, and will contain a question and answer period.\n\n\nTo participate please dial 1-866-334-4934 (toll-free in North America) or\n(416) 849-4293 approximately 10 minutes prior to the call. A live audio\nwebcast of the conference call will also be available via RS's website,\nwww.grouprsi.com, on the home page and the investor relations page. The\nwebcast will be archived for approximately 90 days. In addition, to access a\nreplay of the teleconference, please dial 1-866-245-6755 (toll-free in North\nAmerica) or (416) 915-1035 and enter passcode 382444. The replay will be\navailable for 15 days.\n\n\nAbout RS\n\n\nRS is a technology innovator that develops advanced composite material\nproducts for infrastructure markets. These advanced material products are not\nonly stru...