Laval, Quebec, November 6, 2008 – 20-20 Technologies Inc., the world leader in 3D interior design and furniture manufacturing software, announced today it has entered into an agreement to transfer part of its business activities in the Benelux market to Simar automatisering bv of Amsterdam, its local distributor for the Fusion product. Simar is the region's largest distributor of kitchen and bath design software and is the developer of the well-known software products KIMS and SIMS used for business management. The transaction ensures that current customer service, business contracts and pricing will remain intact.
"Bringing both 20-20 and Fusion market activities under Simar management will provide our customers with an enhanced and more complete product offering. This agreement provides the best possible service and support to both 20-20 and Fusion customers in the Benelux," said Jean-François Grou, President and COO of 20-20 Technologies.
20-20 Technologies expanded its network of regional distributors with the acquisition of the Planit* Fusion business earlier in the year. Following the completion of the acquisition, the Company undertook an extensive analysis of the different European markets and determined its current and prospective customers would benefit from the Dutch company, already entrenched in the industry.
"Simar enjoys a strong position as the leading distributor of the Fusion product in the Benelux. Combining our catalog creation capacities and expertise with 20-20 Technologies will result in increased efficiency and improved service to software users of both the Fusion and 20-20 Design™ products," said Mark Sinnige CEO of Simar automatisering bv.
(*) Planit is a trademark used under license from Planit Holdings Limited
About Simar automatisering bv
Simar automatisering bv is the leading provider of design software and ERP software for the kitchen and bathroom retail market in the Benelux. Using the Fusion and 20-20 Design products customizing them for the Benelux market and develop a wide range of administration tools to support sales, order management, logistics and financial management for the retail market in kitchens, bathrooms and fireplaces. Complementary the catalog creation for hundreds of manufacturers is an important part of the business. Mainly focusing on the Benelux market, the 30 employees are working from 3 locations to support the customers in the best possible way with today’s technology. For more information see www.simar.nl.
About 20-20 Technologies Inc.
20-20 Technologies is the world's leading provider of computer-aided design, business and manufacturing software solutions tailored for the interior design and furniture industries. Dealers and retailers use its desktop and Web-based products and solutions for the residential and commercial markets. 20-20 offers a unique proprietary end-to-end solution, integrating the entire breadth of functions in interior design. It provides a bridge for data communication from the point-of-sale to manufacturing and world-leading enterprise resource planning (ERP) systems, including computer-aided engineering and plant floor automation software. Operating in 13 countries with more than 600 employees, 20-20 is a publicly traded company (TWT) on the Toronto Stock Exchange (TSX). For more information, visit www.2020Technologies.com.
Forward Looking Statements
Certain statements contained in this press release constitute forward-looking information within the meaning of securities laws.
Implicit in this information, particularly in respect of future operating results and economic performance of the Company are assumptions regarding projected revenues and expenses. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual future operating results and economic performance of the Company are subject to a number of risks and uncertainties, including general economic, market and business conditions and could differ materially from what is currently expected.
For more exhaustive information on these risks and uncertainties you should refer to our most recently filed Annual Information Form which is available at www.sedar.com. Forward-looking information contained in this report is based on management's current estimates, expectations and projections, which Management believes are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it is under no obligation and does not undertake to update this information at any particular time, unless required by applicable securities law.