NAPEC Inc.
TSX : NPC

NAPEC Inc.

January 06, 2016 08:30 ET

NAPEC Inc. Merges Its Quebec and Ontario Operations

Creation of a single Canadian entity will favour cross-selling by pooling NAPEC's areas of expertise

DRUMMONDVILLE, QUEBEC--(Marketwired - Jan. 6, 2016) - NAPEC Inc. ("NAPEC" or "the Corporation") (TSX:NPC) today announced the merger of its Quebec subsidiary Thirau ltée and its Ontario subsidiary Thirau Inc. This merger gives further effect to the Corporation's new business model, whose phased implementation in Canada began in 2015. The formation of a single Canadian entity will support the pooling of NAPEC's multiple areas of expertise, allowing the Corporation to exploit cross-selling opportunities in greater depth across both provinces and to increase its business volume with leading utility service providers.

Mr. Sébastien Delorme, previously General Manager of Thirau ltée, has been named president of the new entity. Meanwhile, Mr. Michael LeBoldus, previously head of NAPEC's Ontario operations, becomes Executive Vice-President, Business Development.

"The merger of our Canadian operations is a pivotal step that will broaden NAPEC's service offering to Quebec and Ontario utility service providers. For example, our proven expertise in electricity transmission lines in Quebec will be deployed in Ontario, where major investment in infrastructure will be required in the coming years. Furthermore, our solid reputation in Ontario for electrical substation work will enhance our capabilities in Quebec. I congratulate Sébastien and Michael on their appointments. Their leadership and the dynamism of our teams will drive profitable and sustainable growth in the NAPEC's Canadian operations," said Pierre L. Gauthier, President and Chief Executive Officer of NAPEC.

FORWARD-LOOKING STATEMENTS

This document contains forward-looking statements that reflect management's current expectations regarding future events. Forward-looking statements are based on a number of factors and include risks and uncertainties. Actual results may differ from forecast results. Management assumes no obligation beyond what is required under the law to update or revise forward-looking statements pursuant to new information or future events.

OVERVIEW OF THE CORPORATION

NAPEC is a corporation operating in the energy sector. The Corporation is a leading service provider to the public utility and heavy industrial markets mainly in Quebec, Ontario and the eastern United States. NAPEC and its subsidiaries build and maintain electrical transmission and distribution grids, as well as networks for gas utilities. In addition, the Corporation installs gas-powered and electric-powered heavy equipment for utilities, gas-fired industrial power plants, and petrochemical facilities in North America.

Further information regarding NAPEC is available in the SEDAR database (www.sedar.com) and on the Corporation's website at www.napec.ca.

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