GENIVAR Income Fund Acquires Solmers, a Firm Specialised in Environmental Engineering



    MONTREAL, Aug. 4 /CNW Telbec/ - 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




For further information:

For further information: 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

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GENIVAR Inc.

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