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Resin Systems Provides Manufacturing Transition Update

2008-08-06 12:40:00

Resin Systems Provides Manufacturing Transition Update

    CALGARY, Aug. 6 /EMWNews/ - Resin Systems Inc. ("RS") (RS

- TSX / RSSYF - OTCBB), a technology innovator that develops advanced

composite material products for infrastructure markets, announced today

that the Ontario Superior Court has finalized all legal requirements for

appointing BDO Dunwoody LLP as interim receiver for Global Composite

Manufacturing Inc. ("GCM"). RS's access to the Tilbury, Ontario

manufacturing facility is complete.



    RS applied to have the interim receiver appointed for GCM due to GCM's

failure to obtain the planned funding necessary to operate its business.

The appointment of the interim receiver was the most orderly way to protect

and preserve RS's assets, achieve a smooth transition of operations and

ensure the continuation of production activities. Manufacturing will start

immediately and RS's production targets for cell 1 and 2 remain unchanged.

RS will not require additional funding to operate cells 1 and 2.



    "With production activities continuing, we have achieved our objective

of seamlessly transferring the manufacturing operations in Tilbury," said

Paul Giannelia, president and chief executive officer of RS. "We will

continue to remain focused on increasing output and moving forward to grow

our business."



    Webcast



    RS will hold a teleconference and webcast on Tuesday, August 12, 2008

at 11 a.m. (EDT) / 9 a.m. (MDT) to discuss the Company's manufacturing and

business plans. The call will be hosted by Paul Giannelia, president and

chief executive officer of RS, and will contain a question and answer

period.



    To participate please dial 1-866-334-4934 (toll-free in North America)

or (416) 849-4293 approximately 10 minutes prior to the call. A live audio

webcast of the conference call will also be available via RS's website,

http://www.grouprsi.com, on the home page and the investor relations page. The

webcast will be archived for approximately 90 days. In addition, to access

a replay of the teleconference, please dial 1-866-245-6755 (toll-free in

North America) or (416) 915-1035 and enter passcode 382444. The replay will

be available for 15 days.



    About RS



    RS is a technology innovator that develops advanced composite material

products for infrastructure markets. These advanced material products are

not only structurally superior to products made with traditional building

blocks of wood, steel or concrete, they are also lighter, more durable and

longer-lasting. The company has entered the global market with its award

winning utility poles and conveyor roller tubes as its two initial

products, and continues to identify a growing list of additional innovative

products.



    For the latest on RS's developments, go to the company's website at

http://www.grouprsi.com.



    "RStandard" is a trademark of RS.





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Blake Masterson

Freelance Writer, Journalist and Father of 5

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