Business
GENIVAR Income Fund Acquires Solmers, a Firm Specialised in Environmental Engineering
MONTREAL, Aug. 4 /CNW Telbec/ - The GENIVAR Income Fund ("GENIVAR") is pleased to announce the ac...
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[{"type":"text","content":"\n\n\n\nMONTREAL, Aug. 4 /CNW Telbec/ - The GENIVAR Income Fund ("GENIVAR") is\npleased to announce the acquisition of Solmers Inc., ("Solmers"), a\nQuebec-based firm specialised in providing environmental engineering services,\nincluding in waste confinement technology to the municipal and industrial\nsectors. With this acquisition, combined with its current capabilities,\nGENIVAR now has a leading position in this sector in Canada, with projects\ntotalling over 15 million square metres of designed, installed and controlled\ngeosynthetic materials.\n\n\n"I am very pleased to welcome Solmers onto the GENIVAR team," said Pierre\nShoiry, President and CEO of GENIVAR. "The acquisition of Solmers is strategic\nin that it allows us to expand our expertise in geosynthetic material\napplications. Moreover, Solmers draws about half of its revenues in France,\ngiving us an opportunity to expand our offering in this market and abroad,"\nadded Mr. Shoiry.\n\n\nFounded in 1986, Solmers has 40 employees at its office in Varennes,\nQuebec. Solmers has completed hundreds of containment engineering projects in\nover 25 countries worldwide and serves clients such as the Seche Environment\nGroup in France, SQM Salar S.A. in Chile, the Ministry of Land Use Planning,\nEnvironment and Tourism (MATET) in Algeria and PPG Canada Inc. in Quebec. They\nhave designed landfill cells for domestic, industrial or hazardous waste,\nsurface impoundment, potable water basins and lagoons, to name but a few. They\nhave also been involved in construction project management, the implementation\nof quality assurance programs including geoelectric prospecting and leak\ndetection on geomembranes, to site evaluation and characterization projects, a\nvariety of environmental compliance audits and environmental studies, as well\nas plans for the implementation of environmental management systems in\ncompanies.\n\n\n"Joining GENIVAR will allow us to take Solmers to the next level of its\ndevelopment by expanding our expertise throughout the GENIVAR network and\ngiving us the capabilities to expand in new markets," commented Michel\nMarcotte, President of Solmers. "In addition, our employees will benefit from\nGENIVAR's dynamic and entrepreneurial culture as well as access to a much\nbroader range of career opportunitie...