Acquisition of SNF Inc

    MONTREAL, Dec. 4 /CNW Telbec/ - A corporation controlled by
Messrs. Herbert and Ronald Black recently concluded an agreement in view of
acquiring SNF and its subsidiaries, an enterprise held by Messrs. Jean-Guy and
Bernard Hamelin and the Solidarity Fund QFL. This transaction, subject to the
granting of requisite consents, should be finalized during the first quarter
of 2008. The details relating to this transaction remain confidential.
    SNF operates as a metal recycler in Québec and the Maritimes. It holds,
amongst others, two shredding facilities located in Laval and in
    For their part, Messrs. Herbert and Ronald Black are involved in metal
collection and recycling. They also carry on manufacturing activities in
Canada, the United States, Mexico, China and Hong Kong.
    The founders of SNF, Messrs. Jean-Guy and Bernard Hamelin, have
spearheaded SNF for 35 years and have declared themselves satisfied with the
promising future in Québec of their business, their employees, their suppliers
and their clients.
    Messrs. Herbert and Ronald Black, for their part, have declared
themselves to be very enthusiastic about their acquisition. "The activities of
SNF complement our own very well. This acquisition will enable the creation of
a stronger and more competitive business which will be able to respond to the
growing pressures of international markets. A better productivity and
efficiency of distribution constitute a winning combination for the employees,
the suppliers and the clients of our businesses", they conclude.

For further information:

For further information: Herbert Black, (514) 494-2000; Jean-Pierre
Bélisle, Vice President, Public Affairs, SNF Inc., (514) 323-0333; Josée
Lagacé, Senior Press Relations and Communications Advisor, Solidarity Fund
QFL, (514) 850-4835,

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