Termination of water meter contract: reaction from GÉNIeau consortium

MONTREAL, Sept. 22 /CNW Telbec/ - GÉNIeau, Groupe d'experts acknowledges the Ville de Montréal's intention to terminate the contract awarded to the consortium in November 2007 following a call for proposals for the purpose of installing water meters in industrial, commercial and institutional buildings and optimizing the entire water network of the Montreal agglomeration.

Over the next few weeks, the consortium's experts, with support from legal advisors, will evaluate the financial consequences resulting from the termination of the contract.

The consortium responded in good faith to the call for proposals and mobilized significant human, technological and financial resources to put together and follow up on a proposal that met the specifications and terms stipulated by the Ville de Montréal. GÉNIeau had assembled all the resources required to carry out this contract, from the time it was signed until it was suspended.

Considering the termination of this contract, GÉNIeau does not intend to comment further on this matter.

SOURCE GENIEAU

For further information: For further information: Pierre-Yves Beauchemin, GÉNIeau, (514) 697-8354, pybeauchemin@videotron.ca

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