ROUYN-NORANDA, QC, August 18, 2015 /CNW Telbec/ - In order to support succession and ensure the continuity of Rouyn-Noranda-based Technosub, the Fonds de solidarité FTQ has acquired a majority stake in the company. The announcement to employees was made this morning by Technosub president Yvan Blais and the Fonds' senior vice-president of investments, Normand Chouinard. This is the Fonds' second investment involving an ownership transfer at Technosub, the first having been made with the Fonds régionaux de solidarité FTQ in January 2011.
"Thanks to Yvon Blais' vision and dedicated employees, Technosub quickly became a Canadian leader in effective solutions tailored to the special needs of the mining industry. By teaming up with a Québec partner such as the Fonds de solidarité FTQ, Mr. Blais is showing how much he cares about keeping Technosub and the jobs it provides in the region where the company was founded," said Mr. Chouinard.
"My main goal with this transaction is to ensure the company's continuity and growth while keeping jobs here in Rouyn-Noranda and elsewhere in Canada," added Mr. Blais, who will remain at the helm of Technosub.
Founded in 1983 by Yvan Blais, Technosub and its subsidiaries employ over 120 people in 9 locations across Canada, excluding its headquarters in Rouyn-Noranda. The company sells, repairs and manufactures pumps and pump components. Besides serving the mining industry, Technosub also provides clean and wastewater pumping solutions to the construction, environment, forestry and industrial and municipal infrastructure industries.
For competitive reasons, the details of the transaction will not be publicly disclosed.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $11.1 billion as of May 31, 2015, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec's development. The Fonds is a partner, either directly or through its network members, in more than 2,550 companies. With 610,605 shareholder-savers, the Fonds helps create, maintain and protect more than 176,000 jobs. For more information, visit www.FondsFTQ.com.
SOURCE Fonds de solidarité FTQ
For further information: For media representatives only: Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Phone: 514 850-4835, Mobile : 514 703-5587, Email: firstname.lastname@example.org; For Fonds de solidarité FTQ shareholders: Shareholder Services, Fonds de solidarité FTQ, Montréal: 514 383-3663, Québec: 418 628-3663, Toll Free: 1 800 567-3663