Omnitech Consultant Group inc.

Omnitech Consultant Group inc.

June 16, 2005 14:28 ET

GCO Concludes its Acquisition of Toptech Groupe Conseil Inc.

QUEBEC CITY, QUEBEC--(CCNMatthews - June 16, 2005) -Omnitech Consultant Group Inc. ("GCO") (TSX VENTURE:GCO), which operates in the engineering, information technology and systems maintenance sectors, is pleased to announce that it has recently concluded the acquisition of all of the issued and outstanding shares of Toptech Groupe Conseil. With this acquisition, the company has completed its "one-stop-shop" offering in the engineering of organizational performance.

Notable elements relating to this acquisition include:

- With this acquisition, GCO becomes the Canadian leader in
continuous efficiency improvement and in lean production;

- GCO now has offices in Toronto, France, Switzerland, Tunisia,
Vermont and Florida;

- GCO expects to achieve savings on the order of $500,000 by
reducing several joint operating expenses;

- The integration of Toptech is already in progress, and should be
completed by the end of June 2005.

In addition, by concentrating on increasing its sales, GCO expects to closely control its costs, and to implement the operating procedures required to support its anticipated internal and external growth. The integration of this recent acquisition is proceeding smoothly, and a number of sales via cross-referral have taken place in recent months.

GCO acquired all of the issued and outstanding shares of Toptech Groupe Conseil Inc. as part of an operation evaluated at approximately $14.8 million. The purchase price was paid as follows: $3,600,000 in cash, and 16,000,000 common shares of GCO at a price of $0.70 per share, for a value of $11,200,000.

About Omnitech Consultant Group Inc. ("GCO")

GCO operates in the engineering, information technology and systems maintenance sectors. GCO is capable of intervening in all aspects of industrial engineering and information technology (IT), thus combining a major and distinctive niche in comparison with the competition. GCO integrates new technologies or optimizes existing systems by applying cutting-edge expertise currently used in the best practices of small and medium-sized businesses, including the expertise of large corporations.

About Toptech Groupe Conseil Inc.

Toptech Groupe Conseil Inc. is a consulting engineering firm specializing in the optimization of manufacturing processes. The Quebec company was established in 1989 by Pierre Grenier, an industrial engineer, who a few years later joined up with Michel Aube, Real Bouchard and Jean-Phillipe Raiche, all three of whom are also industrial engineers. Through the years, the company has developed numerous working methodologies and has enriched itself with a team of 65 employees, more than half of whom are very high-caliber engineers and technicians. A visionary leader, Toptech has enhanced its knowledge base by completing numerous business missions in Europe, Japan and the United States. Toptech was granted a mandate by the Industry and Commerce ministry, in cooperation with the Centre de recherche industrielle du Quebec (CRIQ), to develop the methodology for implementation of Value-added Production (VAP), also known as Impact-Kaizen. Toptech is Canada's leader in the development and implementation of Japanese manufacturing-process optimization technologies.

(i) The prospective announcements contained in this press release are associated with known and unknown risks, uncertainties and other factors that could lead to actual company results, yields and achievements that differ significantly from the future results, yields or achievements expressed or implied by these prospective facts.

TSX Venture Exchange Inc. assumes no responsibility regarding the relevance or accuracy of this press release.

Contact Information

  • Omnitech Consultant Group Inc.
    Claude Belley
    (418) 626-9090
    Omnitech Consultant Group Inc.
    Philippe R. Bertrand
    Vice President, Communications
    (418) 626-9090