August 4, 2008
GENIVAR Income Fund Acquires Solmers, a Firm Specialised in Environmental Engineering
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 our 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.
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.
The effective date of the transaction will be August 4, 2008.
About Solmers
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.
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