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GENIVAR Income Fund Acquires an Electrical Engineering Firm Specialized in Power Generation and Transmission Systems
MONTREAL, April 8 /CNW Telbec/ - The GENIVAR Income Fund ("GENIVAR") is pleased to announce the a...
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[{"type":"text","content":"\n\n\n\nMONTREAL, April 8 /CNW Telbec/ - The GENIVAR Income Fund ("GENIVAR") is\npleased to announce the acquisition of Algal & Associates Ltd. ("Algal"), an\nOntario-based electrical engineering services firm with approximately 20\nemployees in Toronto.\n\n\n"Algal's experts have developed very unique niche expertise in medium and\nhigh voltage electrical engineering services for power generation,\ntransmission and distribution systems," said Pierre Shoiry, President and CEO,\nGENIVAR. "These services will be in high demand for the coming years given the\nneed to develop and modernize North America's electricity transmission and\ndistribution grid to access the energy resources, including hydroelectricity,\nwind power, biomass, nuclear and thermal energy. Algal's state-of-the-art\ncapabilities complements our existing range of services and strengthens our\nEnergy team," added Pierre Shoiry. GENIVAR is strategically positioned to take\npart in a wide range of emerging projects.\n\n\n"By joining forces with GENIVAR, we will gain access to larger-scale\nprojects while promoting our services within GENIVAR's internal network. We\nwill also be able to meet the growing needs of our clients, who require a\ncomprehensive range of integrated consulting engineering services," said\nFeodor Alter, President of Algal. "GENIVAR's dynamic entrepreneurial culture\nmeshes perfectly with our respective business approaches, and our employees\nwill be able to integrate their skills within GENIVAR's network," he added.\n\n\nFounded in 1992, Algal & Associates Ltd. provides expertise in electrical\nengineering for power generation, transmission and distribution systems. It\nserves public and private sector clients, including Hydro One, Ontario Power\nGeneration, TransCanada Energy, Brookfield Renewable Power Inc., Renewable\nEnergy Systems, Northland Power and local distribution companies (LDCs).\n\n\nAbout GENIVAR\n\n\nGENIVAR is a leading Canadian engineering services firm providing private\nand public-sector clients with a complete range of professional consulting\nservices throughout all project phases, including planning, design,\nconstruction and maintenance. Ranging in size and scope, GENIVAR's clients\nprimarily operate in the building, industrial, power, municipal\ninfrastr...