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May  20, 2008

Northland-Marvel® announces major investment in US manufacturing

Northland-Marvel® announced today that it is to build a state-of-the-art facility in Greenville, Michigan, bringing together two existing US manufacturing plants along with the establishment of a world-class innovation centre servicing production, design, research and development and customer service.

The move comes after a thorough review of the Company's US operations to identify a structure that would support the company's strategic objective of becoming the premier under-counter refrigeration manufacturer in North America. The move to a brand new site in Michigan will transform the company's manufacturing capabilities, increase operational efficiencies, accelerate product innovation, enhance customer service and further improve the Northland-Marvel product lines - already known for their high quality.

The proposed innovation centre will become the resource centre for all product lines, combining premier innovation and design capabilities, state-of-the-art engineering and research, and an in-house customer service center.

Brad Stauffer, Senior Vice-President of Operations at Northland-Marvel proudly announced the decision to invest in the US, saying: "While other companies are electing to move manufacturing overseas, our commitment to the US is stronger then ever. This investment in Greenville maintains our long association with the City and the community, and is certain to further enhance our position in the premium appliance market – not just in the US but in Europe too – and underpin the Company's continued growth long into the future."

About Northland and Marvel

Northland and Marvel, members of the Aga Rangemaster Group, are leading manufacturers of luxury under counter refrigeration products, refrigerator/freezer systems, wine cellars, beverage and wine refrigerators, refrigerated drawers, outdoor refrigerators, ice machines and beverage dispensers. Selling under the Northland and Marvel brands, all models are available through a national and international network of retailers served by local distributors.

About the proposed Michigan facility

Northland Marvel to invest around $10 million in a new 175,000 square-foot manufacturing facility and innovation centre located in a Renaissance designated site in Greenville, Michigan.

The Michigan Economic Development Corporation have approved a package of funding including state tax credits over 12 years and job training funds through the Economic Development Job Training program.

The City of Greenville is currently considering a 12-year abatement.