MONTREAL, Jan. 25, 2012 /CNW Telbec/ - Société en commandite Gisement McInnis ("McInnis") is pleased to announce that it has entered into, on December 14, 2011, a partnership agreement with Cimbec Canada Inc. ("Cimbec Canada") with respect to the Port Daniel cement plant project in the Gaspé Peninsula, Quebec. McInnis is a privately-held limited partnership controlled by Beaudier Inc., a private investment company held by the Beaudoin family. Guy Rousseau and Bertin Castonguay remain as minority shareholders in the project.
Agreements have been reached with all Cimbec Canada creditors and those of the operating entity Cimbec Inc., which is now a wholly-owned subsidiary of McInnis. This new ownership and capital structure will allow McInnis to develop the project to its full potential based on the size, quality and location of the limestone deposit.
"This is an important, long-term investment and an opportunity to create sustainable industrial activity in the Gaspé thanks to an exceptional site with a high-quality natural resource. We look forward to bringing this project to fruition in a responsible manner and as market conditions warrant," said Jacques Levesque, Vice President of Finance, Beaudier Inc.
"I am extremely proud to have the Beaudoin family as a key investor in this project. I have devoted myself to its realization over the last several years. I am pleased to have found credible and committed partners who understand the full potential of the Port Daniel site and its importance to the community," stated Guy Rousseau, founder of Cimbec.
About the Port-Daniel Cement Plant Project
The Port Daniel cement plant project sits on a deposit estimated to contain over 450 million tons of high-quality limestone. Significant development work on the project has already been undertaken such as the purchase of the property, initial site preparation, including the access road and maritime terminal, engineering and the securing of environmental and other necessary permits. For more information, go to www.cimbec.ca.
For further information:
NATIONAL Public Relations