BOUCHERVILLE, QC, April 20, 2012 /CNW Telbec/ - The Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ announced a $6.5 million investment in Maetta Sciences, a Boucherville-based company specializing in medical implants and instruments, as well as parts for the aerospace industry. Each of the organizations invested $3.25 million, bringing the total investment in Maetta to $6.75 million, while this was the Fonds de solidarité's first investment in Maetta.
"The Caisse has been a partner of Maetta Sciences since 2006 and has seen its technology evolve to meet the needs of new market niches, including in the medical sector, which offers extremely attractive growth opportunities," said the Caisse's Normand Provost, Executive Vice-President, Private Equity. "We believe the company has everything it takes to succeed: a strong management team, cutting-edge technology that allows it to offer specialized products at competitive prices and a compelling development plan."
"The Fonds de solidarité is happy to back Maetta's growth," added Gaétan Morin, Executive Vice-President, Corporate Development and Investments, at the Fonds de solidarité FTQ. "Maetta has carved itself out a niche as a supplier in the aerospace and medical equipment sectors. Its developed expertise and innovation bode well for the future of this company and its workers. The exceptional growth potential of a major industrial company in Québec more than justifies its addition to our new economy portfolio."
"For us, this is the beginning of a new phase that will be driven by strong growth," affirmed Maetta president and CEO Yvan Beaudoin. "Last year, we successfully qualified our technology with several key accounts in the medical and aeronautic sectors. Today we have a solid order backlog and requests for new projects keep coming in. One of the things we will be able to do as a result of this investment is move to a larger facility, better adapted to our needs."
ABOUT MAETTA SCIENCES
Maetta collaborates in the design and manufactures to final shape complex parts that provide improved functionality and significant cost reduction to its customers via its proprietary metal injection molding process. Maetta's unique metal injection technology combined with its sophisticated quality system offers a distinctive proposition to industries such as medical and aerospace, challenged by small production volumes of complex shape parts and stringent quality requirements. www.maetta.ca
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2011, it held $159.0 billion in net assets. As one of Canada's leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.lacaisse.com.
ABOUT THE FONDS DE SOLIDARITÉ FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $8.2 billion as of November 30, 2011, the Fonds is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec's economic growth. Its investments, in all sectors of the economy, contribute to the creation and maintenance of businesses and development in Quebec. The Fonds is a partner, either directly or through its network members, in 2,129 companies. With its 583,235 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect 160,789 jobs. For more information, visit www.cyberfondsftq.com.
For further information:
Caisse de dépôt et placement du Québec
Senior Director, Media Relations
Fonds de solidarité FTQ
Senior Advisor, Press Relations and Communications