Investments totalling $21.5 M and 300 workers recalled
PARENT, QC, Nov. 4, 2011 /CNW Telbec/ - Industries Parent officially
started business operations today during a ceremony held at the Parent
Sawmill and attended by Julie Boulet, Minister of Employment and Social
Solidarity and Minister responsible for the Mauricie region. Industries
Parent invested $21.5 million, including a $12.75-million loan from
Investissement Québec and a $5.5-million loan from the Business
Development Bank of Canada, to upgrade and reopen two mills that had
been closed for approximately two years. This investment will see some
300 employees return to work: 90 at the Parent Sawmill, 40 at the
finger-joint mill in Trois-Rivières and some 170 forestry workers.
"All parties - the Government of Québec, Minister Julie Boulet, our
financial partners, the Municipality of La Tuque, local development
organizations, the union and workers - mobilized to reopen these mills.
We would like to thank them for their support, which has translated
into quality jobs for some 300 people in the region," said Daniel
Archambault, Executive Vice President and Chief Operating Officer,
Industrial Products Division of Kruger.
"We are proud of this innovative, solid business plan. By capitalizing
on the complementary nature of operations at the sawmill and the
finger-joint mill, Industries Parent's structure will provide us with
maximum flexibility to expand our product lines and break into new
markets in Canada and the United States," said Claude Perron, Chairman
and Chief Executive Officer of Industries Parent.
About Industries Parent
Industries Parent was founded in 2011 when the assets of Kruger's
sawmill in Parent were merged with those of Industries Perron's
finger-joint mill in Trois-Rivières. It manufactures value-added lumber
products, including finger-jointed lumber and lumber of varying lengths
for several markets in Canada and the United States.
SOURCE KRUGER INC.
For further information:
Senior Vice President
Corporate Affairs and Communications
Tel.: (514) 343-3213