MONTREAL, Oct. 10 /CNW Telbec/ - The Solidarity Fund QFL (the "Fund") is
investing $3.6 million in Stedfast Inc., a high-tech textile company based in
Granby, Québec. The funds will be used to optimize the firm's competitiveness
"The Fund is very pleased to be associated with a company like Stedfast,
which over the years, has managed to be successful in a traditional sector
like textile. By creating innovative fabrics, the company found a way to stay
in the game, and thanks to its highly specialized team, continuous investments
in technology and R&D, and ability to develop new markets, including North
America, the company has become an industry leader. The determination and
business vision of its management team are commendable, and we are here to
support Stedfast's growth in every possible way," said Gaétan Morin, the
Fund's Executive Vice-President, Investments.
The Fund's investment comes at the right time in Stedfast's development.
Among other things, it will allow the company to pursue its R&D efforts in
order to develop even more innovative processes and products to meet
increasingly demanding quality and protection standards.
Stedfast is a North-American leader in high-tech fabrics. Used in
protective clothing such as flame-retardant gear and apparel that restricts
bacterial penetration, its products are found in the medical, industrial,
maritime, civil and military sectors. For example, law enforcement officers,
first responders, emergency medical personnel and workers in petrochemical
plants all wear Stedfast coated and laminated protective clothing. Thanks to a
dedicated team of engineers, chemists and technicians who make research and
development a top priority, the company offers highly innovative, competitive
About the Solidarity Fund QFL
With net assets of over $7.2 billion as at May 31, 2007, the Solidarity
Fund QFL is a development capital company that through its RRSP channels the
savings of Quebecers into investments in all sectors of the economy to help
create and maintain jobs and to further Québec's economic growth. The Fund is
a partner, either directly or through its network members, in 1,696 companies.
It currently has nearly 575,000 shareholders and has helped, on its own or
with other financial partners, to create, maintain and protect over
122,000 jobs. For more information, visit www.fondsftq.com.
For further information:
For further information: Note: The telephone number provided below is
for the exclusive use of journalists and other media representatives. Josée
Lagacé, Senior Advisor, Press Relations and Communications, Fonds de
solidarité FTQ, (514) 850-4835, firstname.lastname@example.org