WSP Concludes an Agreement to Acquire TPS, a French Company Specializing in
Building and Infrastructure Engineering
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
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.
WSP Global Inc.
President and CEO
(514) 340-0046, ext. 5104
WSP Global Inc.
Director, Communications and Investor Relations
(514) 340-0046, ext. 5648
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