MONTREAL, March 3 /CNW Telbec/ - The GENIVAR Income Fund (GENIVAR) is
pleased to announce that EXH Engineering Services Ltd. (EXH), an Alberta-based
firm with 14 offices and over 275 employees, joined GENIVAR. The firm
specializes in transportation and municipal infrastructure. GENIVAR's
workforce in Western Canada numbers over 500 employees.
"These are exciting times for GENIVAR. The acquisition of EXH, an
industry leader in Alberta, represents a major step forward in developing our
engineering services platform in this province. We have gained an important
foothold there thanks to EXH's strong local presence, with 14 offices around
the province, including Red Deer, Edmonton, Fort McMurray, Medicine Hat and
Grande Prairie," said Pierre Shoiry, GENIVAR's President and CEO. "With EXH on
board, GENIVAR is a key player in the transportation and municipal
infrastructure sectors, which are strong markets in the years to come. We
intend to keep expanding our team in all of our markets, particularly the
building, environment, industrial and power sectors. EXH has established a
solid network by forging long-term client relationships, and that ties in well
with GENIVAR's business model."
"We are very pleased to join forces with GENIVAR, in a move that gives us
new momentum," said Brian Oshust, EXH's President. "Having been involved in
almost every facet of Alberta's infrastructure development, we can now expand
our business opportunities and carry out larger and more complex projects
thanks to GENIVAR's size, capacity and vast pool of multidisciplinary skills,
backed by our province's significant growth potential. We also share the same
core values, including a strong entrepreneurial culture and a regional focus.
Our clients will have access to the entire range of expertise available within
our networks. The future is rich with exciting opportunities for our team as
we strive to meet our clients' growing needs."
The closing of this transaction has been effective on February 29, 2008.
About EXH Engineering Services Ltd.
Founded in 1991, EXH currently has over 275 employees based in 14 offices
across Alberta. In 2007, EXH generated gross revenue of approximately
$36 million. The firm provides private developers and municipalities around
the province with a full range of municipal engineering services, including
water and wastewater systems, solid waste management and subdivision design.
EXH also specializes in road and highway engineering, bridges and material
testing and environmental risk and impact assessments. EXH's long-term clients
include Alberta Infrastructure and Transportation, Cities of Red Deer,
Edmonton and Grande Prairie, Municipal Districts of Opportunity, Greenview and
Northern Lights, Counties of Saddle Hills, Wetaskiwin, Clearwater, Brazeau and
Northern Sunrise, as well as private sector firms such as Volker Stevin, Atco
Electric and Wapiti Gravel Suppliers. (www.exheng.com).
As one of Canada's leading engineering services companies, GENIVAR
provides private and public-sector clients with a full range of consulting
services throughout the project cycle, from planning and design to
construction and maintenance. GENIVAR's clients vary in size and operate in a
variety of market segments, including the building, industrial, power, urban
infrastructure, transportation and environmental sectors. GENIVAR is also one
of Canada's largest engineering services companies by number of employees,
with more than 2,700 managers, professionals, technicians, technologists and
support staff in more than 60 offices in Canada and abroad. (www.genivar.com).
For further information:
For further information: Pierre Shoiry, President and CEO, GENIVAR
Income Fund, (514) 340-0046, ext. 5104; Marlene Casciaro, Director of
Communications, GENIVAR Income Fund, (514) 340-0046, ext. 5184; J. Rob Harmer,
MBA, Vice-President, Western Canada, GENIVAR Income Fund, (604) 736-5421, ext.
100; Brian Oshust, P.Eng., President, EXH Engineering Services Ltd., (403)