MONTREAL, July 22, 2010 /CNW Telbec/ - Société générale de financement du Québec (SGF) announces its association to a banking group led collectively by the National Bank of Canada and the Royal Bank of Canada, as well as its $50 million contribution to TransForce Inc.'s $650 million long-term debt refinancing.
"We are thrilled to participate in this project, which aims to support the growth and operations of TransForce, a leader in the Canadian trucking and logistics sector, whose head office is located in Montréal," says Pierre Shedleur, SGF President and General Manager.
TransForce is Canada's foremost transport and logistical service provider, operating in four distinct sectors of activity, namely odd lot transportation, mail and parcel delivery, specialized services and full load lot transportation. It ensures direct links between more urban centers than any other Canadian transportation service provider.
The company provides over 14,000 jobs of which 7,000 are direct jobs and 2,400 indirect jobs in Québec. It boasts 60 active subsidiaries and operates 260 terminals across Canada, including 76 in Québec.
Société générale de financement du Québec (www.sgfqc.com), an industrial and financial holding company, has a mission to carry out economic development projects, particularly in the industrial sector, in cooperation with partners and in compliance with accepted profitability requirements and with the economic development policy of the Québec government. As part of its new mandate, SGF is authorized by the Québec government to go beyond its traditional role as an equity investor by offering complementary financial solutions, such as loans, debentures or preferred share investment.
SOURCE SOCIETE GENERALE DE FINANCEMENT DU QUEBEC
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