MONTREAL, Dec. 3 2010 /CNW Telbec/ - Société générale de financement du Québec (SGF) announces its US$25M guaranteed subordinated loan to Camoplast Inc. as part of its acquisition of Solideal, a Belgian company.
Founded in 1982, Camoplast is a private company and a world leader in the design, manufacture and marketing of rubber tracks and traction systems for off-road vehicles for the recreational, agricultural, construction, industrial and defense sectors. It also manufactures a varied selection of under-the-hood components, such as reservoirs, engine cowls and air ducts. Its products are sold worldwide to major equipment manufacturers and through a distribution network for the replacement parts market.
"SGF is proud to support a high performance, Québec-based company that is both expanding and rolling out promising growth projects," says Pierre Shedleur, President and General Manager of SGF. This acquisition enabled the company, currently operating as Camoplast Solideal, to expand its product line to specialized tires for the industrial and construction markets, as well as to add a strong distribution framework in over 60 countries on all continents.
Camoplast Solideal's head office and main research center are located in the Sherbrooke region. Its plants are spread out across Québec, the United States, Sri Lanka, South Korea and Europe. The company currently boasts nearly 7,000 employees, 600 of which work in Québec.
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 financial solutions, such as loans, debentures or preferred share investment.
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Senior Advisor, Communications, SGF