MONTRÉAL, Feb. 20, 2015 /CNW Telbec/ - The Fonds de solidarité FTQ is investing US$15 million in A J Walter Aviation Limited, a division of the AJW Group, and a world leading specialist in the supply, exchange, repair and lease of commercial aircraft spare parts. This is the second investment by the Fonds in AJW Group, the first being C$12 million announced in 2013 for the launch of facilities for the repair and maintenance of aircraft components in Montréal by AJW Technique.
"This second investment by the Fonds de solidarité FTQ in a world leader such as AJW Group shows our commitment towards Québec's aerospace sector and its workers", said Jean Wilhelmy, Senior Vice-President, Aerospace, Construction and Services at the Fonds de solidarité FTQ. "This investment will primarily support the continued growth of AJW Aviation and will have benefits for AJW Technique's Montréal facilities as Aviation is Technique's largest customer."
"The Fonds de solidarité FTQ has proved to be the perfect partner for AJW Group as we balance resources with our dynamic plans for growth. Their genuine understanding of the aviation industry means that they appreciate the challenges and the opportunities that we face in equal measure and this is evident in their on-going investment into our business", added Ian Malin, Chief Executive Officer, AJW Capital Partners Limited.
"As AJW Technique begins 2015, the organization celebrates an outstanding performance from its team of skilled technicians as new platforms and capabilities come on-stream and milestone after milestone is achieved", added Christopher Whiteside, President, AJW Group. "Global approvals for AJW Technique have come from authorities in Brazil, Indonesia, Thailand, the United States, Europe and Canada. It is anticipated that approval from China will shortly be achieved so that AJW Group can further establish its foothold in this challenging marketplace and build on the successful penetration of the AJW Aviation spares support programs."
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $10.5 billion as of November 30, 2014, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec's development. The Fonds is a partner, either directly or through its network members, in more than 2,450 companies. With more than 600,000 shareholder-savers, the Fonds helps create, maintain and protect more than 172,000 jobs. For more information, visit www.FondsFTQ.com.
About A J Walter Aviation
AJW Aviation is a world leading specialist in the supply, repair and lease of commercial aircraft spare parts, including services in aircraft engines, aircraft inventory management; power-by-the-hour and pooling support; consignment stock; global 24/7 AOG; component maintenance and overhaul; consumable supplies; logistics and freight management. AJW offices are based in London, Dubai, Singapore, Shanghai, Montreal and Miami with further inventory hubs across Europe, Asia and North America.
SOURCE Fonds de solidarité FTQ
For further information: For media representatives only: Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Phone: 514 850-4835, Mobile : 514 703-5587, Email: [email protected]; Jane Goring/Lauren Goward, InterRelations & Company for AJW Group, Phone: +44 1403 218588, Email: [email protected] or [email protected]; For Fonds de solidarité FTQ shareholders: Shareholder Services, Fonds de solidarité FTQ, Montréal: 514 383-3663, Québec: 418 628-3663, Toll Free: 1 800 567-3663