MONTREAL, Jan. 15 /CNW Telbec/ - The GENIVAR Income Fund (GENIVAR) is
pleased to announce the acquisition of Transenco Limited, (Transenco), an
Ontario-based firm specialising in transportation planning and design
engineering services. GENIVAR has 2,400 employees in Canada and abroad,
including 460 people in Ontario.
"GENIVAR's acquisition of Transenco further strengthens our
transportation expertise. We offer a full range of transportation services,
ranging from planning and design of infrastructure projects involving roads,
highways, bridges and public transit systems," said Pierre Shoiry, President
and CEO of GENIVAR. "Canada's transportation infrastructure needs are
considerable and governments are massively investing in transportation
projects," he added. "This includes repairing, expanding and upgrading roads,
highways, bridges as well as public transit systems. Since we provide a full
range of transportation services, this will mean many opportunities for
GENIVAR in the coming years," concluded Mr. Shoiry.
"GENIVAR is a great strategic fit with our business and its comprehensive
range of services and expertise will be tremendous assets", said
Gordon Krieger, P.Eng., President of Transenco. By joining forces, we will be
able to undertake projects of greater scope and complexity. This will also
allow us to attract additional personnel to GENIVAR's Transportation Group.
"The key factors behind our decision to join forces were GENIVAR's
entrepreneurial business model and its emphasis on flexibility and strong
client service. Our human resources are well acquainted with each other as a
result of many years of collaborative projects, including on a number of
mandates for the Ontario Ministry of Transportation," commented Mr. Krieger.
"The opportunities for developing our transportation team and our clientele
will be tremendous," he added.
Transenco was founded in 1994 and currently has 20 employees in its
offices in North York, Bancroft and Ottawa. Key clients include the Ontario
Ministry of Transportation, developers, and several cities and municipalities,
including the Region of Peel. Recent and current projects include the
rehabilitation designs of Highway 15 between Seeley's Bay and Crosby,
Highway 400 from Highway 11 northerly to Highway 93 and Highway 62 south of
Bancroft for 17 km including the Beaver Creek Bridge replacement.
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. Our clients operate in various
market segments such as building, municipal infrastructure, transportation,
industrial and power, as well as environment. GENIVAR is one of the largest
Engineering Services firm in Canada in terms of number of employees with 2,400
managers, professionals, technicians and technologists and support staff in
more than 40 offices in Canada and overseas. 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;
Gordon Krieger, President, Transenco Limited, (613) 332-2841