Fonds de solidarité FTQ Invests $100 Million to Support Maritime Strategy

MONTRÉAL, June 29, 2015 /CNW Telbec/ - The Fonds de solidarité FTQ will invest $100 million with a view to developing projects to create logistics clusters as part of the Government of Québec's Maritime Strategy. The Government is investing $200 million in such projects, which will create jobs and further Québec's economic growth.

"Nature has given Québec a competitive edge: the St. Lawrence River, an exceptional trade corridor. Given our mission to create jobs and grow the economy, it makes perfect sense for the Fonds to work with the Government of Québec and national, regional and local actors on projects to create logistics clusters," said Gaétan Morin, President and CEO of the Fonds, during a press conference at the Port de Montréal.

Logistics clusters provide basic services for road, rail and maritime transportation. Vital to the Québec economy and trade, these hubs can offer loading and storage facilities, customs clearing, office technology, inventory management, order processing, and assembly and labelling services.

The Fonds and the transportation sector

Since its inception, the Fonds and the Fonds régionaux de solidarité FTQ have invested $381 million in the transportation sector. The current portfolio in this sector represents total investments of $281 million in 17 projects accounting for 8,198 jobs in Québec.

The Fonds de solidarité FTQ recently joined a predominantly Québec consortium led by Montreal-based Fiera Axium Infrastructure to acquire Montreal Gateway Terminals, a company specializing in the handling of marine containers moving between international markets. The company operates two of the three terminals in the Port de Montréal.

The Fonds' reach extends to other ports in the province as well. For example, it has a long-standing partnership (over 20 years) with Québec's top two road carriers (Transforce and Groupe Robert), which provide important links between port activities and customers. The Fonds has also invested in other companies in the sector.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ helps drive our economy. With net assets of $10.5 billion as of November 30, 2014, 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 2,450 companies. With more than 600,000 shareholder-savers, the Fonds helps create, maintain and protect more than 172,000 jobs. For more information, visit www.FondsFTQ.com.

SOURCE Fonds de solidarité FTQ