MONTREAL, Aug. 26 /CNW Telbec/ - Committed to helping Québec firms boost
productivity and remain competitive, the Fonds de solidarité FTQ
("Fonds") has invested $5.5 million in Foliot Furniture ("Foliot"), a
manufacturer of residence hall furniture headquartered in St-Jérôme.
Considered one of North America's five major players in this activity
sector, Foliot is now making inroads into the hospitality market. This
development strategy consolidates the roughly 150 jobs in Québec,
particularly the strategic design, operations and marketing positions.
"We are proud to back Foliot's expansion in this fiercely competitive
market, where it has succeeded in standing out thanks to dynamic
management, flexibility, and innovative, quality products. Our capital
will allow Foliot to not only conquer a new market but to boost its
competitiveness by purchasing new equipment. The furniture industry is
still one of the biggest provider of manufacturing jobs in Québec, and
as an investor, the Fonds continues to play a strategic role in this
regard," stated Gaétan Morin, the Fonds' executive vice-president of
"Our expansion into the hospitality market will reduce the seasonality
of our business. We're convinced that our shared vision with the Fonds,
underpinned by team expertise and a customer and action driven approach,
will take us even farther," said Foliot president Daniel Foliot.
Aside from its head office in the Laurentians, Foliot has a plant in
Greenville, Tennessee, and recently opened another in Las Vegas. In peak
periods, the company employs over 600 people.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With
net assets of $7.3 billion as at May 31, 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 Fonds de solidarité FTQ
For further information: For further information:
Vice-President, Public and Corporate Affairs
Fonds de solidarité FTQ
Telephone: 514 850-4892
e.mail : email@example.com