Press Releases

  • Friday, November 7, 2008
    New acquisitions in Quebec for GENIVAR Income Fund
        MONTREAL, Nov. 7  - The GENIVAR Income Fund ("GENIVAR") is
    pleased to announce the acquisition of three consulting engineering firms: Les
    Consultants GENIPLUS Inc. ("GENIPLUS"), Nageco Inc. ("Nageco") and Consumaj
    Estrie Inc. ("Consumaj Estrie"). GENIPLUS specializes in structural
    engineering and bridge infrastructure; Nageco works in municipal
    infrastructure and structural engineering, while Consumaj Estrie specializes
    in municipal infrastructure, civil engineering and environment. GENIPLUS and
    Nageco are based in Montreal, and Consumaj Estrie in Sherbrooke. The three
    firms have a total of 25 employees.
        "GENIPLUS and Nageco have been working in partnership for several years
    and bring to GENIVAR their solid expertise in structural engineering and
    bridge infrastructure. These sectors will remain in great demand in the coming
    years because of the continuing investment by various levels of government and
    municipalities," noted Pierre Shoiry, President and Chief Executive Officer of
    GENIVAR. "GENIPLUS has an impressive, 68-year history in consulting
    engineering. It has been involved in major projects in Montreal, including the
    Metropolitan Autoroute, the Place des Arts, the Complexe Desjardins, and more
    recently, the Grande Bibliothèque," added Mr. Shoiry.
        The two companies have a solid, loyal client base, in both the public and
    private sectors. Their major clients include several boroughs of the City of
    Montreal, the cities of Cherstey, Saint-Donat and Rawdon, the Montreal School
    Commission, the Quebec Ministry of Transportation, Hydro-Québec, Place des
    Arts, Industrial Alliance, the Mouvement des caisses Desjardins and several
    oil companies.
        GENIVAR has also acquired Consumaj Estrie, a firm established in
    Sherbrooke in 2004. "We are extremely happy to welcome Consumaj Estrie into
    GENIVAR. This acquisition will enable us to complete our network covering all
    of Quebec's regions," said Mr. Shoiry. "This new firm will allow us to gain a
    foothold in the Eastern Townships and to develop our platform in this region
    to offer our full range of professional services in engineering and
    environment," concluded Mr. Shoiry.
        The clients of Consumaj Estrie include the City of Sherbrooke, the
    Township of Orford, the cities of Granby, Cowansville and Farnham, as well as
    a number of developers in the Eastern Townships.
        "Joining GENIVAR will give us access to larger projects and, at the same
    time, will respond to the increasing needs of our clients for a full range of
    services in consulting engineering," explained the firms' leaders, François
    Charbonneau of GENIPLUS, Pierre Nadon of Nageco and Yves Cossette of Consumaj
    Estrie. "The entrepreneurial culture and dynamism of GENIVAR are an excellent
    match for our respective approaches to business, and our employees will be
    able to develop their skills and improve their career opportunities," they
    added.
    
        About GENIVAR
    
        GENIVAR is a leading Canadian Engineering Services firm providing private
    and public sector clients with a comprehensive range of professional
    consulting services through all execution phases of a project including
    planning, design, construction and maintenance. Clients fall into various
    market segments such as building, industrial and power, municipal
    infrastructure, transportation and environment. GENIVAR is one of the largest
    Engineering Services firm in Canada with more than 3,300 managers,
    professionals, technicians and technologists and support staff in more than 80
    offices in Canada and internationally. www.genivar.com
    
    
    
    
    Pierre Shoiry, President and Chief Executive
    Officer, GENIVAR Income Fund, (514) 340-0046, ext. 5104; Marlène Casciaro,
    Director of Communications, GENIVAR Income Fund, (514) 340-0046, ext. 5184;
    François Charbonneau, Eng., Les Consultants GENIPLUS Inc., (514) 273-3147;
    Pierre Nadon, Eng., Nageco Inc., (514) 273-3147; Yves Cossette, Eng., Consumaj
    Estrie Inc., (819) 562-8888