In c9332 transmitted at 11:47e today, please note that there has been a
change to the release. The sentence ''which will be the only active
plant'' has been removed from the third paragraph. Corrected copy
Fonds de solidarité FTQ Invests $2 Million in Groupe Crête to Reopen
MONTREAL, May 4 /CNW Telbec/ - The Fonds de solidarité FTQ ("Fonds") has invested $2 million in Groupe
Crête division Saint-Faustin inc., a family-owned business in
Saint-Séverin, in Mauricie. The investment will be used to reopen
Scierie Forget, a softwood sawmill that closed its doors in November
2009 and that was acquired by Groupe Crête earlier this year.
Operations are set resume in the weeks ahead.
Located in Saint-Faustin-Lac-Carré, Scierie Forget was one of Québec's
largest independent sawmill operators for many years. The reopening
should have a positive impact on some 250 direct and indirect jobs.
"We are proud to play a role in the reopening of the sawmill in the
Laurentides. This is great news for this forestry region, which has
been hard hit by the slowdown in the industry," said Gaétan Morin,
Executive Vice-President, Investments, at the Fonds de solidarité FTQ.
"The sawmill will support the development of Groupe Crête's other
businesses, Maxi-Forêt and Scierie Jean Riopel, by supplying them with
raw materials, and in so doing strengthen its foundation in order to
build a profitable, sustainable industry in the Laurentides and
Lanaudière," added Mr. Morin.
Groupe Crête division Saint-Faustin has a number of advantages,
including low production costs and state-of-the-art equipment. Its
business strategy will focus on obtaining certification from the Forest
Stewardship Council (FSC). The sawmill will focus on developing jack
pine for patio wood, softwood for exterior siding and tamarack for the
flooring and patio wood markets.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $7.7 billion as at November 30, 2010, the Fund is a
development capital investment fund that channels the savings of
Quebecers into investments in all sectors of the economy to help
further Québec's economic growth. The Fund is a partner, either
directly or through its network members, in 2,052 companies. With its
577,511 owner-shareholders, it has helped, on its own or with other
financial partners, to create, maintain and protect 150,133 jobs. For
more information, visit www.fondsftq.com.
SOURCE SOLIDARITY FUND QFL
For further information:
Senior Advisor, Press Relations and Communications
Fonds de solidarité FTQ
Telephone: 514 850-4835