|By Marketwired .||
|April 7, 2014 08:30 AM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 04/07/14 -- WSP Global Inc. (TSX: WSP) ("WSP" or the "Company") is pleased to announce the signing of an agreement under which it will acquire Technip TPS S.A.S. ("TPS"), the French subsidiary of Technip S.A. ("Technip"). The acquisition of TPS, which specializes in building and infrastructure engineering, will add 100 employees to WSP's existing workforce in France. In 2013, TPS posted EUR20 million in revenues (approximately CDN$30 million).
The acquisition, which remains subject to certain usual closing conditions, is scheduled to take effect on or around April 30, 2014. Following the closing of the transaction, Eric Falleur, currently President of TPS, will continue to head the operations of this subsidiary in France. As a result of the transaction, WSP will have 150 employees in France, based in Paris, Lyon, Toulouse and Grenoble, since the Company already has a team of 50 people working in the infrastructure, hydraulics, environmental and building segments.
"We are very pleased to welcome the TPS team, whose profile meshes perfectly with our growth strategy, not only by boosting our presence in France but also by enhancing our expertise in the industrial and building sectors worldwide. TPS has solid skills when it comes to designing and carrying out major initiatives and has worked on projects such as the national library in Paris (Bibliotheque de France) and Airbus's A380 assembly plant in Toulouse," said Pierre Shoiry, President and CEO of WSP. "TPS's international reputation, particularly in the aeronautics and health sectors in Middle East and Asia, will enable us to pursue our growth strategy and to maximize WSP's worldwide network for our French clientele," he added.
"We are proud to be joining WSP. This transaction will contribute to the achievement of TPS's strategic goals and offers a solid foundation for continued growth in France and around the world. Since our operations are complementary, this will create new opportunities for our employees and our clients," said Eric Falleur, President of TPS. "Thanks to this transaction, we will be able to play an active role in the development and growth of WSP's multi-disciplinary group in France and to offer a wide range of additional services to our clients around the world."
Founded in 1989, TPS was created by Technip, a European engineering leader, in order to provide its clients with high-quality engineering services in the building and infrastructure sector. Headquartered in Paris and with offices in Lyons, Toulouse and Abu Dhabi, TPS has the skills needed to design and deliver excellence in both the public and private sectors. It has overseen major projects such as the Bibliotheque de France, Renault's Technocentre and Airbus's A380 assembly plant.
WSP is one of the world's leading professional services firms, working with governments, businesses, architects and planners and providing integrated solutions across many disciplines. The firm provides services to transform the built environment and restore the natural environment, and its expertise ranges from environmental remediation to urban planning, from engineering iconic buildings to designing sustainable transport networks, and from developing the energy sources of the future to enabling new ways of extracting essential resources. It has approximately 15,000 employees, mainly engineers, technicians, scientists, architects, planners, surveyors, other design professionals, as well as various environmental experts, based in more than 300 offices, across 30 countries, on 5 continents. www.wspgroup.com
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