Genesis factory.
Mississauga-based Genesis Worldwide Inc. has built a factory in Iran, pictured here, that produces flexible steel frames for buildings so they can withstand frequent earthquakes there.
Mississauga-based Genesis Worldwide Inc. will build buildings in Iran that won't fall down — even when the earth quakes.
Genesis has opened a factory for the Behsazeh Construction Engineering Co. in Tehran that specializes in building buildings that can withstand the effects of earthquakes.
Now completed, the factory will produce light-steel structural frames that will give buildings sufficient flexibility and strength to remain upright and functional during Iran's frequent seismic activity.
Behsazeh, an Iranian building construction company, recognized the need for alternative safe building technologies due to the frequent earthequakes in the Middle Eastern nation.
Meanwhile, the Mississauga company also sent over a team of employees to support the Iranian company. The team guided the plant staff through the initial planning, installation and building of the production facility, as well as offering the necessary training for plant operations.
In addition to an upfront licensing fee, Genesis will receive royalty fees from Behsazeh, fees from the sale of manufacturing equipment and for services provided by Genesis such as training, engineering and support.
Genesis president and CEO Vince Mifsud noted that the facility in Iran is the third plant commissioned through Genesis in 2007.
"This is another important milestone in the growth of our company by expanding our licensees globally," said Mifsud. "We are very optimistic about the growth opportunity in the Iranian building market."
The general manager of Behsazeh, Mohammadali A. Gholitabar, said the new relationship with Genesis will help the company achieve its corporate goals.
"Our business objective is to be the leading building manufacturer in Iran and local regions, with a building solution that's not only quick to assemble but also built to withstand the seismic activity common to the geography of Iran," said Gholitabar. "Our agreement and ongoing relationship with Genesis is an ideal partnership because of its...products and services and the ongoing support that they provide."