Investissement Québec (IQ) and Fonds de solidarité FTQ have acquired a 60 percent stake in Plastique Micron, a Sainte-Claire, Québec-based plastic container manufacturer. No financial terms were disclosed for the deal, which will see the balance of the company’s interest held by two managing shareholders. Founded in 1971, Plastique Micron makes products designed for the pharmaceutical, cosmetics and food industries, as well as for industrial uses. Bernard Poitras, the company’s president, said the partnership with IQ and Fonds de solidarité FTQ will support new investments in additional production lines and acquisitions.
Investissement Québec and Fonds de solidarité FTQ Become Shareholders of Plastique Micron
Sainte-Claire, December 7, 2016 — One of the largest plastic container manufacturers in eastern Canada, Plastique Micron offers a wide selection of products designed for the pharmaceutical, cosmetics and food industries, as well as for industrial use. To ensure its growth, this SME, based in the Chaudière-Appalaches region, has brought in two new shareholders: Investissement Québec and the Fonds de solidarité FTQ, which have acquired a 60% stake in the company. The two managing shareholders will retain a 40% interest.
“This acquisition is especially meaningful for Investissement Québec as it helps us keep the headquarters of an innovative, North American industry leader in Québec. This deal, made in partnership with the Fonds de solidarité FTQ, will also facilitate the growth of this SME exporter, which has been honing its expertise for over 45 years,” said Pierre Gabriel Côté, President and Chief Executive Officer of Investissement Québec.
“Thanks to the experience and expertise of Micron’s management team and employees, this company is in an excellent position to pursue growth in the coming years and in so doing, strengthen its home base in Sainte-Claire, Québec, to the benefit of its employees and goods and services suppliers not only in the Chaudière-Appalaches region but throughout Québec,” said in turn Gaétan Morin, President and Chief Executive Officer of the Fonds de solidarité FTQ.
“Plastique Micron will have to make major investments in the years ahead if it is to continue growing and effectively meeting its customers’ supply needs. These investments entail adding production lines in our two plants and making acquisitions, more specifically, two or three plants in the next five years. Having Investissement Québec and the Fonds de solidarité FTQ as partners will provide us with the capital we need to attain our strategic objectives,” said Plastique Micron president Bernard Poitras.
About Investissement Québec
Investissement Québec’s mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $11.7 billion in net assets as at May 31, 2016, the Fonds has helped create and maintain 187,414 jobs. The Fonds has more than 2,600 partner companies and 618,551 shareholder-savers. www.fondsftq.com.
Sources and information:
Chantal Corbeil, Spokesperson, Investissement Québec: 514 873-7161
Patrick McQuilken, Senior Advisor, Press Relations and Communications, Fonds de solidarité FTQ: 514 850-4835
Photo courtesy of Plastique Micron