Stantec Signs Letter of Intent to Acquire Processes Unlimited International, Inc.
12 Februar 2014 - 3:00PM
Marketwired
Stantec Signs Letter of Intent to Acquire Processes Unlimited
International, Inc.
Firm will bring significant US oil and gas presence,
expertise
EDMONTON, ALBERTA and NEW YORK, NEW YORK and BAKERSFIELD,
CALIFORNIA--(Marketwired - Feb 12, 2014) - (TSX:STN)(NYSE:STN)
North American design firm Stantec will add significant strength
to its oil and gas, and industrial service capabilities in the
United States by acquiring Processes Unlimited International, Inc.
(ProU). Based in Bakersfield, California, ProU is a 450-person
multidisciplinary engineering, project management, and design firm
founded in 1985 with seven offices across California, Texas,
Georgia, and Tennessee. Stantec anticipates this transaction to
close in March, 2014.
"ProU shares our cultural focus on clients, with a deep
technical expertise that is instrumental to servicing key
industrial clients across the United States," said Bob Gomes,
Stantec president and chief executive officer.
ProU operates in a diverse range of markets, including oil and
gas, alternative energies, power, utilities, chemicals, food and
beverage, packaging, plastics, cement, minerals, mining, and
building products. During ProU's near 30-year history, the company
has expanded its initial service offerings from mechanical
engineering and design to include process, chemical, civil,
structural, automation, instrumentation, and electrical
engineering, along with control panel fabrication. The firm has
amassed a sizeable portfolio of design projects located primarily
throughout the United States as well as internationally.
"Stantec's presence in communities and industries across the
United States will allow our people access to new resources and to
collaborate with a broader team while pursuing major US projects,"
said Dan Bernstein, ProU president and general manager.
Stantec currently has more than 5,000 employees working across
125 offices in the United States. Practitioners from ProU will join
Stantec's US Industrial practice area unit.
About Stantec The Stantec
community unites more than 13,000 employees working in over 200
locations. We collaborate across disciplines and industries to
bring buildings, energy and resource, and infrastructure projects
to life. Our work-professional consulting in planning, engineering,
architecture, interior design, landscape architecture, surveying,
environmental sciences, project management, and project
economics-begins at the intersection of community, creativity, and
client relationships. For more information, visit
www.stantec.com.
Cautionary note regarding forward-looking statements
This press release contains forward-looking statements. By
their nature, forward-looking statements require us to make
assumptions and are subject to inherent risks and uncertainties.
There is a significant risk that a number of factors could cause
actual future results to differ materially from the forward-looking
statements made in this press release. These factors include, but
are not limited to, the risk that the proposed transaction does not
close when expected or at all or that the anticipated benefits of
the transaction are not realized.
Design with
community in mind
Media ContactDanny CraigStantec Media RelationsUS WestTel. (949)
923-6085Danny.Craig@stantec.comInvestor ContactCrystal
VerbeekStantec Investor RelationsTel. (780)
969-3349Crystal.Verbeek@stantec.comProU ContactDonna JonesVP
Marketing & SalesTel. (661) 885-3105dljones@prou.com
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