SHAWINIGAN, QC, Sept. 18 /CNW Telbec/ - Québec-based manufacturer
Laurentide Inc. (www.societelaurentide.com) today announced that the company
has sold its Pavement Marking Paint Division to US-based Ennis Paint
(www.ennispaint.com). The transaction will allow Laurentide Inc. to
strategically refocus company activities while providing additional capital
for investment in sectors of superior growth potential.
"This transaction is in perfect keeping with our development strategy for
the short and medium terms, and will bolster our financial structure. As a
result, we will be poised to develop more aggressively key high growth sectors
such as our paint recycling and recovery operations which have posted
substantial gains in recent years," stated André Buisson, President and Chief
Operating Officer of Laurentide Inc.
Under the terms of the agreement with Ennis Paint, pavement marking paint
will continue to be manufactured by Laurentide Inc. The 23 permanent employees
of this division will all retain their jobs with Ennis Paint Canada.
About Laurentide Inc.
Founded at Shawinigan in 1950, Laurentide Inc.
(www.societelaurentide.com) is a manufacturing company which operates in the
following sectors of activity: residential paint, vehicle maintenance
products, industrial paint, paint recovery and recycling as well as the
bottling of spring water. Through subsidiaries Peintures Récupérées in Québec
and Preferred Environment in Nova Scotia, Laurentide Inc. ranks as the
Canadian leader in the paint recovery and recycling sector.
From the company's administrative centre in Shawinigan, Laurentide Inc.
manages plants in Shawinigan, Montréal, Québec, Victoriaville (QC) and
Springhill (NS), as well as distribution centres in Québec (QC),
Richibucto (NB) and St John's (NL).
About Ennis Paint Inc.
Ennis Paint (www.ennispaint.com) is the world's largest producer of
pavement marking materials, leading the industry with the development of
innovative, state-of-the-art technologies and solutions designed to promote
safety for all modes of travel. With a product line that includes waterborne
and solventborne traffic paint, alkyd and hydrocarbon-based thermoplastic,
epoxy, modified urethane epoxy, poly-urea, preformed thermoplastic and
methacrylates, Ennis Paint offers the most comprehensive solutions to the
For further information:
For further information: Luce Davidson, Public Relations, (514)
484-2082, email@example.com; Source: André Buisson, President and Chief
Operating Officer, Laurentide Inc.