Category: Investment, Water
MONTREAL, QUEBEC - June 17, 2016 (www.waternewswire.com) WSP Global Inc. (TSX:WSP) ("WSP") is pleased to announce that is has entered into an agreement with Schlumberger, a leading global oilfield services company, to acquire its industrial water consultancy business.
This 250-employee business will enable WSP to provide water consulting services and project solutions to industrial clients worldwide and will establish a presence for WSP in Chile and Peru. The acquisition will also add to our presence in a number of countries in which we currently operate, including the United States, the United Kingdom, Colombia and Mexico. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2016.
"The industrial water consultancy team will bring WSP an increased presence in the attractive global water market, more specifically, in the supply, management, control and environmental protection of water," commented Alexandre L'Heureux, the incoming President and Chief Executive Officer of WSP. "This transaction, which will be financed using our available cash, is aligned with our growth strategy; not only are we deepening our expertise in the industrial water sector, but we are strengthening our presence in South America, a region we are targeting in our 2015-2018 strategic plan. We look forward to welcoming all new employees from this division."
"We are pleased about the prospect of joining WSP as our operations are complementary, and expect to create new opportunities for our employees and our clients," said John McCartney, business manager, Industrial Water Consultancy, Schlumberger. "Upon closing, we anticipate playing an active role in the development and growth of WSP's multi-disciplinary group in South America and to offer a wide range of additional services to our clients around the world."
As one of the world's leading professional services firms, WSP provides technical expertise and strategic advice to clients in the Property & Buildings, Transportation & Infrastructure, Environment, Industry, Resources (including Mining and Oil & Gas) and Power & Energy sectors. WSP also offers highly specialised services in project delivery and strategic consulting. Its experts include engineers, advisors, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, program and construction management professionals. With approximately 34,000 people in 500 offices across 40 countries, WSP is well positioned to deliver successful and sustainable projects under its WSP and WSP / Parsons Brinckerhoff brands. www.wsp-pb.com.
Certain information regarding WSP contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although WSP believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. WSP's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The complete version of the cautionary note regarding forward-looking statements as well as a description of the relevant assumptions and risk factors likely to affect WSP's actual or projected results are included in the Management Discussion and Analysis for the first quarter of 2016 ended March 26, 2016, which is available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and WSP does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.
Vice President, Investor Relations and
WSP Global Inc.
514-340-0046, ext. 5648
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