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Manazil Steel to Establish Light Steel Framing Plant in Abu Dhabi

Genesis Worldwide Inc., a leading provider of green structural building technology using light-steel, announces the signing of a technology license and service agreement with Manazil Steel Framing Factory ("Manazil"), a newly formed subsidiary of Khalifa Al Fahad Company of Abu Dhabi, United Arab Emirates, an Emirates building construction company established in 1980.

Under the terms of the agreement, Manazil will establish a light-steel frame manufacturing plant in the industrial zone of Abu Dhabi using the Genesis solution, a turn-key solution which includes leading edge software, industrial equipment, hardware, processes and engineering services ("Genesis Solution"). The plant is scheduled to be operational by early 2008 and will address the market opportunities created by the construction boom in the UAE, especially in Dubai and Abu Dhabi.

Given Abu Dhabi's strategic location, this agreement will help Genesis emerge as a player in the building industry in the fast growing UAE market. Maged Mostafa, Vice President of Business Development for Genesis, sees this as a breakthrough for Genesis, as Manazil will be able to serve a large portion of the Gulf region from its new plant.

"The Genesis Solution allows for the custom design and manufacture of buildings six storeys or less. Its inherent flexibility will allow Manazil to offer builders in the UAE structural solutions that meet their architectural requirements, but in a much more efficient fashion," said Mostafa.

Manazil was attracted to the Genesis Solution as it provides a clear alternative to traditional methods and materials and offers an energy efficient, fire resistant, cost-effective and fast building solution. Manazil selected the Genesis Solution after carefully assessing other types of building materials and systems.

Ali Muhsin, Project Manager of Manazil stated, "We believe that working together with Genesis will be the best solution to achieve our goals and offer a new, smart, fully integrated turn-key approach and more simplified construction solution to the Middle East area." The first phase of production will include the manufacturing of 200,000 square meters of panels intended to build 500 modern villas.

According to Mohammad Khalifa Al Fahad Al Mehairi, Chairman of the Board of Manazil, the contract signed with Genesis is the first of its kind in the Arabian Gulf and Middle East region. Manazil will be the sole provider of Genesis building systems in the United Arab Emirates and Qatar.

With the introduction of the Genesis Solution into the Gulf Region, Manazil expects to revolutionize the local building industry and bring substantial benefits to the market, including a reduction of building costs and construction time. It will also increase the lifespan and overall quality of buildings compared with traditional types of building construction.

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