Supporting international development and creating 30 jobs in the Québec
MONTREAL, Feb. 20, 2012 /CNW Telbec/ - The Caisse de dépôt et placement
du Québec and the Québec Manufacturing Fund (QMF) announced an
investment in Liberty Spring Inc., one of North America's largest
manufacturers of high precision springs.
"Liberty Spring is one of the best kept secrets in the Québec City
region: it's a well established company in Montmagny that operates
plants in Mexico, China and Toronto and its products can be found
worldwide. Now that's one fine example of a Québec company that was
able to retain its technical expertise in Québec while ensuring its
growth in the international arena," explained Normand Provost,
Executive Vice-President, Private Equity and Chief Operations Officer
at the Caisse. "We are pleased to support the growth of such a
A 20,000-square foot plant expansion and automation projects are slated
to step up the company's production capacity and support increased
sales. The investment by the Caisse and the QMF also enable the
succession team to increase its share ownership in the company.
"The QMF's expertise will be harnessed to support the company in its
growth projects and help position its new product lines globally," said
Claude Couvrette, Partner at the Québec Manufacturing Fund. "We will
also be mandated to support the succession team throughout the
"Having the Caisse and the QMF as partners means benefitting both from
an international network and expertise in corporate development, which
will enable us to maximize Liberty Spring's growth potential—here and
globally," explained Richard Guimont, President of Liberty Spring.
These partners will also enable us to ensure the long-term development
of our company, which manufactures and exports more than one million
springs every week."
ABOUT LIBERTY SPRING INC.
Liberty Spring is a world class spring manufacturer specialized in the
area of custom high precision springs and has been involved in the
automotive, aerospace and recreational vehicle industries for 25 years.
The company, whose head office is located in Montmagny, has
distinguished itself internationally through innovation, extensive
flexibility and the quality of its springs. In addition to its main
Montmagny plant, Liberty Spring has three other manufacturing sites—in
China, Mexico and Toronto. The company manufactures and exports more
than a million springs every week and one out of every two vehicles in
the world has a spring manufactured by Liberty Spring in it. www.libertyspring.com.
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and
insurance plans. As at December 31, 2010, it held $151.7 billion in net
assets. As one of Canada's leading institutional fund managers, the
Caisse invests in major financial markets, private equity and real
estate. For more information: www.lacaisse.com.
ABOUT THE QUÉBEC MANUFACTURING FUND
The $100-million Québec Manufacturing Fund L.P., sponsored by the Caisse
de dépôt et placement du Québec, is an investment partnership that has
a mandate to identify profitable Québec manufacturing companies that
present attractive business opportunities and have the potential to
quickly make significant improvements to their operations. The QMF
combines the financial expertise of the Caisse de dépôt et placement du
Québec with the corporate development expertise of experienced
managers. The Fund assists entrepreneurs in Québec's manufacturing
sector with their projects by providing financing and expertise for
business development, operations management and financial management.www.fondsmanufacturier.com.
SOURCE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
For further information:
Caisse de dépôt et placement du Québec
Senior Director, Media and Public Relations
Québec Manufacturing Fund
418 248-8871 ext. 221