MONTREAL, March 1, 2012 /CNW Telbec/ - GENIVAR Inc. (TSX: GNV) ("GENIVAR" or the "Company") is pleased to announce the acquisition of GRB Engineering Ltd. ("GRB"), a Calgary-based, engineering firm specializing in engineering services and project management for the oil and gas industry. This acquisition adds 80 people to GENIVAR.
"We are very happy to welcome the GRB team as it fits very well in our development strategy and strengthens our leadership both in Alberta and in the oil and gas industry. GRB's team has developed an expertise in engineering and design, procurement and construction management (EPCM) services as well as project management which complements the array of services we already offer in this market segment," said John Nielsen, Senior Vice-President, Alberta of GENIVAR. "The oil and gas industry is a flourishing, dynamic one, rich in opportunities. With such a diverse service offering, we expect to take part in many more projects in the coming years," he added.
"We are very proud to be joining GENIVAR since being part of a larger team with values similar to ours will give us the opportunity to accelerate our growth. Our businesses being complementary, the merger of our teams will create multiple new opportunities for our staff and clients," said Rick Giammarino, President and Chief Executive Officer of GRB. "Through this transaction, we will play an active role in the continued development and growth of GENIVAR's multidisciplinary oil and gas group, with a clear focus on providing our clients with quality professional services and technical excellence," he added.
ABOUT GRB ENGINEERING LTD.
Founded in 1999, GRB is an engineering firm specializing in engineering services and project management for the oil and gas industry. The firm offers a full range of engineering, procurement, and construction management (EPCM) services. GRB has provided Engineering services to small and large international companies such as Cenovus Energy, Terra Energy, Murphy Oil, Bonavista Petroleum, Devon Canada, Apache Canada, PennWest Petroleum, EnCana Corporation, Pengrowth Corporation, and Pioneer Canada, to name a few.
ABOUT GENIVAR INC.
GENIVAR is a leading Canadian engineering company providing private and public-sector clients with a full range of professional consulting services throughout all project phases, including planning, design, construction and maintenance. Ranging significantly in size, GENIVAR's clients operate in various different market segments, including the building, industrial, energy, municipal infrastructure, transportation and environmental sectors. GENIVAR is one of the largest engineering companies in Canada by number of employees, with more than 5,000 managers, professionals, technicians, technologists and support staff in over 100 cities in Canada and internationally.
Certain information regarding GENIVAR contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although GENIVAR believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. GENIVAR's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The complete version of the cautionary note regarding forward-looking statements as well as a description of the relevant assumptions and risk factors likely to affect GENIVAR's actual or projected results are included in the Management Discussion and Analysis for the three and nine-month periods ended October 1, 2011 and the year ended December 31, 2010, which are available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and GENIVAR does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.
For further information:
Senior Vice President, Alberta
Tel: (403) 314-6335
Director, Communications and Investor Relations
Tel: (514) 340-0046, ext. 5648
President and Chief Executive Officer
GRB Engineering Ltd.
Tel: (403) 266-2800