WSP has signed an agreement under which it will acquire TPS, the French subsidiary of 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 €20 million in revenues (approximately CDN$30 million).

 "We are very pleased to welcome the TPS team, whose profile meshes perfectly with our growth strategy, not only by boosting our leadership role 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 (Bibliothèque de France) and Airbus's A380 assembly plant in Toulouse," said Pierre Shoiry, President and Chief Executive Officer. "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. 

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, Éric 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. 

ABOUT TPS  

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 Lyon, 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 Bibliothèque de France, Renault's Technocentre and Airbus's A380 assembly plant.

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