|By PR Newswire||
|December 19, 2012 07:25 AM EST||
QUITO, Ecuador, Dec. 19, 2012 /PRNewswire/ -- Caminosca S.A., a 400-person engineering consulting firm headquartered in Quito, Ecuador has signed an agreement to merge with Cardno, a professional infrastructure and environmental services company with expertise in the development and improvement of physical and social infrastructure for communities around the world.
Once the agreement is finalized, Caminosca will become an integral part of Cardno's Latin American operations and further develop Cardno's capabilities in the engineering arena.
Eduardo Jacome, President of Caminosca remarked, "We are very pleased to join Cardno. Cardno is a client-focused, industry-leading firm that aligned well with our existing philosophies of serving clients with excellent quality standards. Both of our firms understand the unique needs associated with serving the Latin American market and combine a balance of high-end expertise with local community engagement to deliver the right solutions."
Caminosca's professionals specialize in hydropower, mining, environment, roads, water supply and sewerage, urban development, airports and stormwater. They are involved in major projects ranging from the 600 MW- Cardenillo hydropower project to the Drinking Water System Master Plan for the 320,000 residents of Manta. Combining this expertise with Cardno's current 152-Quito based professionals creates a strong platform to deliver value to local and international clients.
"The economic growth in Latin America is opening tremendous opportunities for companies like Cardno because of our understanding of the need for physical and social infrastructure solutions and our expertise in engineering and environmental services to support responsible development," stated Edgar Uribe, Cardno ENTRIX's Director of Latin American Operations. "Cardno is well-suited to provide a broad range of social and physical professional services and with Caminosca, we will be able to better serve those needs through a stronger local presence."
President of Cardno's Americas region, Paul Gardiner, commented, "Cardno has substantially grown in the Americas over the last few years, however most of that expansion has been in North America. Further expanding our capabilities to Latin America enables us to proactively meet the needs of our international petroleum and mining clients, while also helping local communities implement critical infrastructure in a manner that is socially responsible."
The transaction is expected to close the first quarter of 2013. Following Cardno's normal strategy upon completion of the transaction, Caminosca's key management will become Cardno shareholders and remain active in the company.
For further information:
About Caminosca: Caminosca is an Ecuadorian consultant company founded in 1976 that provides engineering design, technical assistance, construction administration and management services for hydropower, hydrocarbons, mining, transportation, urban development, water supply, irrigation and flood control projects. Caminosca engineering services, both in Ecuador and abroad, are managed with standards of excellence aimed at client's satisfaction. To learn more visit www.caminosca.com.
About Cardno: Cardno is a professional infrastructure and environmental services company, with expertise in the development and improvement of physical and social infrastructure for communities around the world. Cardno's team includes leading professionals who plan, design, manage and deliver sustainable projects and community programs. Ranked at #33 on Engineering News Record's 2012 Top 200 International Design Firms List, Cardno provides clients with access to more than 7,900 professionals in over 270 locations focusing on delivering tailored solutions to address social, physical and economic business needs.
Founded in 1945 in Brisbane, Australia, Cardno is an international company listed on the Australian Securities Exchange [ASX: CDD]. To learn more, visit www.cardno.com.
Mr. Paul Gardiner