Fonds de solidarité Puts $8M to Work in Premier Tech


Rivière-du-Loup

The Fonds de solidarité des travailleurs du Québec (FTQ) has made a new investment in Premier Tech Ltd., a company focused on developing, manufacturing and marketing solutions for the processing and packaging of materials. The investment, totaling $8 million, will allow Premier Tech to accelerate its strategic initiatives, including acquisitions. This is the Fonds de solidarité’s fourth investment in the Rivière-du-Loup, Québec-based company, which was founded in 1923.

PRESS RELEASE

Fonds de solidarité FTQ backs Premier Tech’s International Growth

Rivière-du-Loup – April 22, 2013 − The Fonds de solidarité FTQ is pleased to announce an $8 million investment in Premier Tech to facilitate its growth abroad. This is the Fonds’ fourth investment in the Rivière-du-Loup company.

“Securing this type of funding is in keeping with the company’s vision and business plan, designed to ensure its long-term development and stability,” said Premier Tech Chairman and CEO Bernard Bélanger. “It allows Premier Tech to accelerate its strategic initiatives including acquisitions, a key to the development of our company which has made some 20 acquisitions since 1989.”

“The Fonds de solidarité FTQ is proud to count a leader like Premier Tech among its partner companies,” stated Gaétan Morin, the Fonds’ executive vice-president of corporate development and investment. “Growth through acquisitions abroad allows Québec companies to conquer new markets and consolidate and even create jobs at home, an important aspect of the Fonds de solidarité’s mission.”

About Premier Tech
For 90 years, Premier Tech has been building its know-how and reputation on the expertise and synergy of its three groups – Horticulture and Agriculture, Industrial Equipment and Environmental Technologies. They have one mission: to become technological and commercial leaders in their respective industries. Driven by a multidisciplinary team of over 2 500 people located in the Americas, Europe and Asia, Premier Tech focuses on the development of its team members, on Innovation, and on the introduction of value-added products and services to support its long-term growth.

About the Fonds de solidarité FTQ
Created in 1983, the Fonds de solidarité FTQ has been driving the Québec economy for 30 years. With net assets of $8.8 billion as at November 30, 2012, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec’s development. The Fonds is a partner, either directly or through its network members, in more than 2,000 companies. With over 600,000 owner-shareholders, the Fonds has helped create, maintain or protect almost 170,000 jobs. For more information, visit www.FondsFTQ.com.

Photo courtesy of Shutterstock.

 

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