A regional fund affiliated with the Fonds de solidarité FTQ has invested $1 million in J.M. Bastille Acier Inc, a trader and distributor of ferrous and non-ferrous metals in Québec and the Maritime provinces. The funding was provided to support the takeover of the Rivière-du-Loup, Québec-based company by operator Jean-Claude Chouinard. With the deal’s closing, the 45-year old company has been renamed Acier Québec-Maritimes.
PRESS RELEASE
Support and funding for Acier Québec-Maritimes: The Fonds régionaux de solidarité FTQ Bas-Saint-Laurent invests $1M for the sustainability of a Lower Laurentian flagship
Rivière-du-Loup, February 1st, 2016 – Since its inception 45 years ago, JM Bastille Acier neuf, has become a leader within the trade and distribution sectors of ferrous and non-ferrous metals. In 2012, Mr. Jean-Claude Chouinard took over the reins of the business with a clear mission: to accelerate the company’s development in Eastern Quebec and New Brunswick.
In 2015, Mr. Chouinard, a Lower Laurentian native, decided he wanted to take over the company he was running for the past 3 years. In order to support this transaction, the Fonds régionaux de solidarité FTQ Bas-Saint-Laurent and the local solidarity fund managed by the Local Development Centre (CLD) of the Rivière-du-Loup region invested 1 million dollars in this industry leader. From now on, the company will be known as Acier Québec-Maritimes.
“The support and funding of the Fonds régionaux de solidarité FTQ and other financial partners allows me to continue serving small, medium, and large companies of the region, like Premier Tech, but also allows me to serve Eastern Quebec and continue developing the Maritimes”, said Mr. Chouinard.
“The sustained growth of the company during the course of the last few years testifies to the profound knowledge Mr. Chouinard has within the metal purchase and sale industry. With a strong team and customer service, and unique delivery hours, the future looks bright for Acier Québec-Maritimes”, concluded Mr. Marc Cayouette, regional director of the Fonds régionaux de solidarité FTQ Bas-Saint-Laurent.
About the Fonds régionaux de solidarité FTQ
An Integral part of the Fonds de solidarité FTQ network, the Fonds régionaux (regional funds) actively participates in the economic growth of each region of Québec. As of December 31st 2015, the Fonds régionaux portfolio had 396 corporate partners, which accounted for 306.4 million dollars of investments within projects totaling 1.3 billion dollars – bringing the total number of jobs created, maintained or saved to more than 17,800. For more information, please visit the the following website: www.fondsreg.com
Information for journalists only:
Patrick McQuilken
Fonds de solidarité FTQ
Telephone: 514 850-4835
Cellphone: 514 703-5587
Email : pmcquilken@fondsftq.com
Information for Fonds de solidarité FTQ shareholders:
Shareholder Services
Fonds de solidarité FTQ
Montréal : 514 383-3663
Québec : 418 628-3663
Toll-free : 1 800 567-3663
Photo courtesy of Acier Québec-Maritimes
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