Press Releases

  • Monday, August 4, 2008
    GENIVAR Income Fund Acquires Solmers, a Firm Specialised in Environmental Engineering

    MONTREAL, Aug. 4 - The GENIVAR Income Fund ("GENIVAR") is pleased to announce the acquisition of Solmers Inc., ("Solmers"), a Quebec-based firm specialised in providing environmental engineering services, including in waste confinement technology to the municipal and industrial sectors. With this acquisition, combined with its current capabilities, GENIVAR now has a leading position in this sector in Canada, with projects totalling over 15 million square metres of designed, installed and controlled geosynthetic materials.

    "I am very pleased to welcome Solmers onto the GENIVAR team," said Pierre Shoiry, President and CEO of GENIVAR. "The acquisition of Solmers is strategic in that it allows us to expand our expertise in geosynthetic material applications. Moreover, Solmers draws about half of its revenues in France, giving us an opportunity to expand our offering in this market and abroad," added Mr. Shoiry.

    Founded in 1986, Solmers has 40 employees at its office in Varennes, Quebec. Solmers has completed hundreds of containment engineering projects in over 25 countries worldwide and serves clients such as the Séché Environment Group in France, SQM Salar S.A. in Chile, the Ministry of Land Use Planning, Environment and Tourism (MATET) in Algeria and PPG Canada Inc. in Quebec. They have designed landfill cells for domestic, industrial or hazardous waste, surface impoundment, potable water basins and lagoons, to name but a few. They have also been involved in construction project management, the implementation of quality assurance programs including geoelectric prospecting and leak detection on geomembranes, to site evaluation and characterization projects, a variety of environmental compliance audits and environmental studies, as well as plans for the implementation of environmental management systems in companies.

    "Joining GENIVAR will allow us to take Solmers to the next level of its development by expanding our expertise throughout the GENIVAR network and giving us the capabilities to expand in new markets," commented Michel Marcotte, President of Solmers. "In addition, our employees will benefit from GENIVAR's dynamic and entrepreneurial culture as well as access to a much broader range of career opportunities," he concluded.

    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, urban infrastructure, transportation and environment. GENIVAR is one of the largest Engineering Services firm in Canada with more than 3,100 managers, professionals, technicians and technologists and support staff in more than 75 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;

    Michel Marcotte,
    Eng., M.A.Sc.,
    Solmers Inc.,
    (450) 929-0303