TORONTO, May 15 /CNW/ - Cinram International Income Fund ("Cinram" or the "Fund") (TSX: CRW-UN.TO) today announced that Lewis Ritchie is stepping down from his position as executive vice-president of finance and chief financial officer of Cinram effective June 30, 2008, after nearly 32 years of service.
"Lew has been integral to every key milestone for Cinram," said Cinram chief executive officer Dave Rubenstein. "On behalf of all of Cinram's employees, directors and trustees, we thank Lew for his loyalty, dedication and contribution over the many years."
Cinram is already in the advanced stages of selecting Mr. Ritchie's successor and expects to have the position filled in a timely manner, facilitating a smooth transition.
About Cinram
Cinram International Inc., an indirect, wholly-owned subsidiary of the Fund, is the world's largest provider of pre-recorded multimedia products and related logistics services. With facilities in North America and Europe, Cinram International Inc. manufactures and distributes pre-recorded DVDs, audio CDs, and CD-ROMs for motion picture studios, music labels, publishers and computer software companies around the world. Cinram now also provides distribution and logistics services to the telecommunications industry in North America and Europe through its wireless subsidiaries. The Fund's units are listed on the Toronto Stock Exchange under the symbol CRW.UN. For more information, visit our website at www.cinram.com.
Certain statements included in this release constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Fund, or results of the multimedia duplication/replication industry, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, among others, the following: general economic and business conditions, which will, among other things, impact the demand for the Fund's products and services; multimedia duplication/replication industry conditions and capacity; the ability of the Fund to implement its business strategy; the Fund's ability to retain major customers; the Fund's ability to invest successfully in new technologies and other factors which are described in the Fund's filings with the securities commissions.
ContactsLyne B. FisherTel: (416) 321-7930
lynefisher@cinram.com
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