WSP Global Inc.

WSP Global Inc.

July 11, 2007 07:27 ET

GENIVAR Income Fund acquires Ontario transportation firm NCE Ltd.

    MONTREAL, July 11  - The GENIVAR Income Fund (GENIVAR) is
pleased to announce the acquisition of National Capital Engineering Limited,
("NCE Ltd."), an Ontario-based firm specialising in transportation planning
and design engineering services. GENIVAR has over 2,000 employees in Canada
and abroad, with more than 400 in Ontario.
    "GENIVAR's acquisition of NCE Ltd. becomes our platform to expand into
the transportation market in Ontario. This firm is known for the excellence of
its services and has a solid client base. We are building on these assets to
pursue our development in transportation, through both organic growth and
acquisitions," said Pierre Shoiry, President and CEO of GENIVAR. "GENIVAR is
recognized as a strategic player in the transportation sector, from planning
to design and project completion. NCE Ltd. will reinforce our leadership in
the transportation sector" added Mr. Shoiry." Canada has major transportation
infrastructure needs, whether in transportation planning, traffic management,
roads, bridges, freeways, or mass transit. We intend to take part in many
coming projects," he concluded.

    NCE Ltd. was founded in 2000 and currently has 35 employees at its
offices in Ottawa, Kingston and Toronto. With a primary focus on serving
provincial, federal and municipal clients in Ontario, NCE Ltd. serves major
clients which include: Ontario Ministry of Transportation, Public Works and
Government Services Canada, the National Capital Commission, and numerous
cities and municipalities, including the City of Ottawa, the Regional
Municipality of Ottawa-Carleton, the City of Cornwall and the City of
Kingston.

    While the transportation sector specialists will be joining GENIVAR,
NCE's value engineering group will operate independently under new ownership
as NCE Engineers Inc. (NCEVE). David Wilson, P. Eng., CVS, who becomes
President of NCEVE has a well established reputation in value engineering
across the continent. NCEVE will focus on its core value
engineering/management services, and continue to offer group facilitation and
strategic planning expertise to its clients.
    "We are very happy that NCE is joining the GENIVAR team. NCE's expertise
will help position GENIVAR in the many transportation projects across Ontario.
The acquisition of NCE is strategic in the National Capital Region where
GENIVAR now has a multidisciplinary team of some 160 employees," said
Marc Rivard, P. Eng, Vice President for Eastern Ontario. We plan to enlarge
our team in order to participate in numerous transportation projects in our
province" added Mr. Rivard.
    "For NCE, joining GENIVAR gives us new momentum as it takes us to the
next level of our development", commented Steven Taylor, P.Eng., who becomes
GENIVAR's Vice President of Transportation for Ontario. It enables us to work
on more significant and complex projects. This will also allow us to attract
other firms and additional personnel to GENIVAR's Transportation Group.
GENIVAR's entrepreneurial culture, its decentralized business model which
emphasizes a local approach, the magnitude and dynamism of the firm, and
access to its Canadian network built a business case for the merger,"
explained Mr. Taylor. "Working together, we foresee tremendous opportunities
for developing our transportation team and our clientele," he added.

    About GENIVAR

    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. Clients fall into various
market segments such as building, industrial and power, urban infrastructure,
transportation and environment. GENIVAR is one of the largest Engineering
Services firm in Canada in terms of number of employees with more than
2,000 managers, professionals, technicians and technologists and support staff
in some 40 offices in Canada and internationally. www.genivar.com



Contact 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;
    Steven Taylor, P. Eng., M.Eng, President, NCE Ltd., (613) 228-8654