MONTREAL, Dec. 9, 2010 /CNW Telbec/ - Société générale de financement du Québec (SGF) announces it has concluded a $9M term financing agreement with Canam Group Inc. This transaction aims to finance the company's recent acquisitions and give it the breathing room it needs to accelerate its growth, thereby better positioning itself to capitalize on potential opportunities.
"Canam Group boasts over 900 employees in Beauce and generates over 1,500 jobs in Québec, making it one of the province's top 100 companies, said Pierre Shedleur, President and General Manager of SGF. Its growth strategy is in line with SGF's strategic development plan, which aims to reinforce the positioning of Québec-based companies in their respective markets through the implementation of expansion or consolidation projects."
About Canam Group Inc.
Canam Group is a leader in the design and manufacturing of construction products and solutions, as well as a specialist in design-build and building information modeling (BIM) services. The company's, whose head office is based in Beauce, operates over 25 manufacturing plants and engineering offices in Canada, the United States, Romania, India and China. It also has partnerships with companies in Saudi Arabia, the United Arab Emirates and China.
Société générale de financement du Québec (sgfqc.com), an industrial and financial holding company, has a mission to carry out economic development projects, particularly in the industrial sector, in cooperation with partners and in compliance with accepted profitability requirements and with the economic development policy of the Québec government. As part of its new mandate, SGF is authorized by the Québec government to go beyond its traditional role as an equity investor by offering complementary solutions, such as loans, debentures or preferred share investments.
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Senior Advisor, Communications, SGF