MONTREAL, Dec. 12, 2013 /CNW Telbec/ - La Caisse de dépôt et placement du Québec announced that it has
concluded a $4-million equity investment in CAD Railway Industries Ltd.
(CADRI), the largest rolling-stock repair and refurbishment facility in
This new investment by la Caisse will enable CADRI to finance the
modernization of its equipment and facilities so as to diversify its
services for the long term, among other things.
La Caisse has been a partner of CADRI since 2011, when it made an
initial $7-million investment as part of a management buyout of the
company. Since then, the organization has recorded a solid performance.
"By increasing its stake in CAD Railway Industries Ltd., la Caisse is
reaffirming its commitment to support a Québec company that has carved
out an enviable position in its industry," said Normand Provost,
Executive Vice-President, Private Equity. "The company has an
impressive track record and has been growing steadily, notably because
the nature of its operations, which involve long-term partnerships with
"This new investment by la Caisse confirms its long-term commitment to
our organization," said Fausto Levy, President and Chief Executive
Officer of CAD Railway Industries Ltd. "We're pleased to be able to
count on Caisse support at the key stages of our growth."
ABOUT CAD RAILWAY INDUSTRIES LTD.
CAD Railway Industries Ltd., founded 45 years ago in Lachine, Québec, is
a manufacturing company servicing the rail, marine, mining, and power
generation industries. CAD Railway Industries Ltd. offers its main
customers in these industries integrated repair, refurbishment and
upgrading services for locomotives, freight cars, passenger cars and
diesel engines. CADRI also manufactures custom replacement parts for
CADRI operates Canada's largest repair and refurbishment facility for rail vehicles. To
complement the painting and curing services offered at its Lachine
facility, the company opened a second, leading-edge painting shop in
the Greater Toronto Area early in 2013.
Major refurbishment carried out by CAD Railway Industries Ltd. adds
about 20 years to the service life of vehicles and parts. With a
testing facility that is the only one of its kind in Québec or the rest
of Canada, and one of only three in North America that can test diesel
engines of 1,000 to 6,000 HP, the company also works with its main
customers on research and development projects to optimize the
performance of new and reconditioned diesel engines, improving their
energy consumption and reducing atmospheric emissions. The company has
450 employees at its strategically located facilities in Lachine and
ABOUT LA CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
La Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and
insurance plans. As at June 30, 2013, it held $185.9 billion in net
assets. As one of Canada's leading institutional fund managers, la
Caisse invests in major financial markets, private equity,
infrastructure and real estate globally. For more information: www.lacaisse.com.
SOURCE: Caisse de dépôt et placement du Québec
For further information:
Senior Adviser, Media Relations