Investor Relations | News Centre

Montreal, November 7, 2008 – The GENIVAR Income Fund (”GENIVAR“) is pleased to announce the acquisition of three consulting engineering firms: Les Consultants GÉNIPLUS Inc. (”GÉNIPLUS“), Nageco Inc. (“Nageco“) and Consumaj Estrie Inc. (“Consumaj Estrie“). GÉNIPLUS specializes in structural engineering and bridge infrastructure; Nageco works in municipal infrastructure and structural engineering, while Consumaj Estrie specializes in municipal infrastructure, civil engineering and environment. GÉNIPLUS and Nageco are based in Montreal, and Consumaj Estrie in Sherbrooke. The three firms have a total of 25 employees.

“GÉNIPLUS and Nageco have been working in partnership for several years and bring to GENIVAR their solid expertise in structural engineering and bridge infrastructure. These sectors will remain in great demand in the coming years because of the continuing investment by various levels of government and municipalities,” noted Pierre Shoiry, President and Chief Executive Officer of GENIVAR. “GÉNIPLUS has an impressive, 68-year history in consulting engineering. It has been involved in major projects in Montreal, including the Metropolitan Autoroute, the Place des Arts, the Complexe Desjardins, and more recently, the Grande Bibliothèque,” added Mr. Shoiry.

The two companies have a solid, loyal client base, in both the pubic and private sectors. Their major clients include several boroughs of the City of Montreal, the cities of Cherstey, Saint-Donat and Rawdon, the Montreal School Commission, the Quebec Ministry of Transportation, Hydro-Québec, Place des Arts, Industrial Alliance, the Mouvement des caisses Desjardins and several oil companies.

GENIVAR has also acquired Consumaj Estrie, a firm established in Sherbrooke in 2004. “We are extremely happy to welcome Consumaj Estrie into GENIVAR. This acquisition will enable us to complete our network covering all of Quebec’s regions,” said Mr. Shoiry. “This new firm will allow us to gain a foothold in the Eastern Townships and to develop our platform in this region to offer our full range of professional services in engineering and environment,“ concluded Mr. Shoiry.

The clients of Consumaj Estrie include the City of Sherbrooke, the Township of Orford, the cities of Granby, Cowansville and Farnham, as well as a number of developers in the Eastern Townships.

“Joining GENIVAR will give us access to larger projects and, at the same time, will respond to the increasing needs of our clients for a full range of services in consulting engineering,” explained the firms’ leaders, François Charbonneau of GÉNIPLUS, Pierre Nadon of Nageco and Yves Cossette of Consumaj Estrie. “The entrepreneurial culture and dynamism of GENIVAR are an excellent match for our respective approaches to business, and our employees will be able to develop their skills and improve their career opportunities,” they 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, municipal infrastructure, transportation and environment. GENIVAR is one of the largest Engineering Services firm in Canada with more than 3,300 managers, professionals, technicians and technologists and support staff in more than 80 offices in Canada and internationally.

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For further information, please contact:

Pierre Shoiry, President and Chief Executive Officer
Phone: (514) 340-0046, ext. 5104
GENIVAR Income Fund

Marlène Casciaro, Director of Communications
Phone: (514) 340-0046, ext. 5184
GENIVAR Income Fund

François Charbonneau, Eng.
Les Consultants GÉNIPLUS Inc.
Phone: (514) 273-3147

Pierre Nadon, Eng.
Nageco Inc.
Phone: (514) 273-3147

Yves Cossette, Eng.
Consumaj Estrie Inc.
Phone: (819) 562-8888