Fonds de solidarité FTQ Invests $2 Million in the Growth of PG Hardwood Flooring
Pictures available at www.flickr.com/photos/FondsFTQ
SAINT-ÉDOUARD-DE-LOTBINIÈRE, QC, June 13, 2012 /CNW Telbec/ - The Fonds de solidarité FTQ is pleased to announce a $2 million investment in PG Hardwood Flooring, a family business in Chaudière-Appalaches that manufactures high-grade prefinished hardwood flooring.
PG obtains all its hardwood from Scierie Dion et Fils, a company in which the Fonds invested in 2010. The quality hardwood comes from forest land belonging to Perthuis, a company owned by the Fonds (through its subsidiary Solifor) and Gestion Dion. This is therefore a singular vertical integration model in Québec, where all three parties are experts in their respective fields (harvesting, lumber milling and flooring).
Founded in 1979, PG is the largest employer in Saint-Édouard-de-Lotbinière with 130 workers in an almost fully automated plant. The company has a processing plant, a varnishing plant, a lathing plant (straightening), kilns and outside warehouses for unprocessed wood.
"After investing heavily in equipment and partnering with Scierie Dion et Fils, making it the only company in its industry with guaranteed supply, PG Hardwood Flooring is poised to become a key player on the Québec market. We are proud to back the company's growth strategy, which includes successful vertical integration that begins with Solifor's forests, continues with primary processing by Dion and ends with secondary and tertiary processing by PG," said Janie Béïque, Senior Vice President, Natural Resources, Industries and Consumer Goods at the Fonds de solidarité FTQ.
"Our partnership with the Fonds de solidarité FTQ, which has tremendous knowledge of the forestry sector, will allow us to consolidate our leadership and capitalize on business opportunities that may arise. We are also counting on their expertise to help us with our succession plan and facilitate the company's transfer in the medium term," added Claude Garneau, President of PG Hardwood Flooring.For further information:
Information for media only
Senior Advisor for Media Relations and Communications
Fonds de solidarité FTQ
Phone: 514 850-4835
Mobile: 514 703-5587
PG Hardwood Flooring
Phone: 418 796-2328
Mobile : 418 563-9524
The Fonds's social media accounts
Facebook : facebook.com/FondsFTQ
Pictures available on Flickr
The Garneau family of PG Hardwood Flooring, a Fonds de solidarité FTQ partner, on the Garneau model, a new product for 2012.
Fonds de solidarité FTQ partner PG Hardwood Flooring's plant in St-Édouard-de-Lotbinière.
Another new product for 2012 from Fonds de solidarité FTQ partner PG Hardwood Flooring: the Himalaya model.
Fonds de solidarité FTQ partner PG Hardwood Flooring Warwick model.