Fonds de solidarité FTQ Partners With Casavant Frères

MONTREAL, July 19, 2012 /CNW Telbec/ - The Fonds de solidarité FTQ is pleased to announce a $2 million investment in Casavant Frères, the largest organ builder in the world that specializes in crafting and restoring pipe organs.

"I'm happy that Casavant is receiving financial support from the Fonds. It will allow us to pursue our growth, especially in Asia and to penetrate new markets in other emerging countries of the world," stated board chair and owner of Casavant Frères for the past 36 years. "Classical music is growing in popularity around the world, which is why many large cities are building beautiful concert halls. This is true of 40 large cities in China. Thanks to the Fonds, Casavant will be able to position itself well in these new markets."

"By partnering with Casavant Frères, we hope to help ensure the survival of one of our cultural beacons. Over time, its diversified team of artisans, designers and seasoned managers has made Québec's organ building expertise known the world over. The Casavant Frères brand is synonymous with top-notch quality because the company's overriding concern is to deliver reliable instruments with outstanding sound. We are thrilled at the prospect of backing Casavant's development and expansion," stated Fonds president and CEO Yvon Bolduc.

Founded in 1879, Casavant Frères has delivered close to 4,000 organs to date and has built an international reputation not only for the sound and quality of its instruments but also for their beauty and durability. The Saint-Hyacinthe company, which is still in its original location, is made up of workshops where the organs are crafted from raw materials. Every step of the building process is traditional. The team is made up of about 70 employees highly skilled in building organs of all sizes and types of action (tracker, electric slider and electro-pneumatic).

Among its current projects, Casavant Frères is building a new instrument for the Montréal Symphony, three pipe organs for the U.S. as well as for various cultural institutions in Asia. The company also has organ refurbishment and relocation projects in churches in Missouri, Texas, Ontario, Manitoba and Prince Edward Island

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ helps drive our economy. With net assets of $8.5 billion as of May 31, 2012, the Fonds 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. Its investments, in all sectors of the economy, contribute to the creation and maintenance of businesses and development in Quebec. The Fonds is a partner, either directly or through its network members, in 2,239 companies. With its 594,287 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect 168,577 jobs. For more information, visit www.cyberfondsftq.com.

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Marie-Anna Murat
Director, Public Affairs and Community Relations
Fonds de solidarité FTQ
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