49 new partners, $44M in investments and an 8th consecutive year of positive returns
Gatineau, May 18, 2012 – During the 2011-2012 financial year, the Fonds régionaux de solidarité FTQ invested $44M in 88 Quebec companies, including $26.7M in 49 new partner companies. These investments helped create, maintain or save 2065 jobs, while allowing the Fonds régionaux to post an 8th consecutive year of positive returns. Last year’s results were made public by Élaine Zakaïb, President and General Manager of the Fonds régionaux de solidarité FTQ, during the employees’ annual meeting held this year in Gatineau.
“We can be proud of our results for the last year, whether in terms of jobs throughout Quebec or the Fonds régionaux’s positive returns over the last 8 years, declared Ms. Zakaïb. Each dollar invested by workers for their retirement is making its way to Quebec companies, allowing them to grow and to drive our economy.”
Édith Gaudet, General Manager of the Fonds régional de solidarité FTQ Outaouais, pointed out the energy that Outaouais entrepreneurs bring to the region: “From the forestry sector to the public service, the Outaouais economy is facing major challenges every day. We are fortunate to have dynamic entrepreneurs in the region.”
Jean-Claude Des Rosiers, Chairman of the Fonds régional de solidarité FTQ Outaouais, emphasized the work of the entire team of people involved in the Fonds régionaux: “Every day, volunteer directors and employees work to help drive the economy of their region in all corners of Quebec. It is a truly unique economic and social force.”
The Fonds régionaux make investments of up to $2M in companies across Quebec. Investments of up to $100,000 are made by one of the 86 Fonds locaux, and investments above $2M are made by the Fonds de solidarité FTQ head office in Montreal.
Driving the economy of Quebec’s regions
Ms. Gaudet outlines three Fonds de solidarité FTQ Outaouais partners as types of investments the Fonds régionaux make: “Partner of the Fonds regional de solidarité FTQ Outaouais, Solacom Technologie is becoming a key supplier to 911 public safety networks and agencies in the United-States. With Solacom, the Outaouais’s know-how is being deployed from Alabama to Hawaii via California by industry giants such as Motorola Solutions and Hawaiian Telcom.”
“Service de Pneus Lavoie Outaouais, Western Quebec and Eastern Ontario’s largest retailer of tires, and Fonds regional partner since 2003, inaugurated last year its new head-office in Gatineau, a building which also includes a warehouse, a tire retreading plant and a service center for trucks. Pneus Lavoie also continued its expansion in 2012 by making acquisitions in Ontario which allow the consolidation of jobs here.
“Auberge et Spa Le Nordik, which opened its doors in June 2005, is dedicated to the well-being of its customers through Scandinavian relaxation techniques. Partner of the Fonds régional de solidarité FTQ Outaouais, its growing popularity has made it North America’s largest Nordic spa. The next stage: opening a new spa in Winnipeg in the coming year.
Ms. Zakaïb also mentioned that such investments are taking place all over Quebec. ”On the Côte-Nord, we invested in the Hôtel-Motel Le Q’Artier des îles in Port-Cartier, allowing the 70 room establishment to significantly increase its renown and profitability.”
“As entrepreneurial succession is a major concern for all regions of Quebec, an investment of the Fonds regional Québec allowed for the transfer of Radio Onde, a Quebec City based telecommunications company, from the company’s founder the its financial director. In the Saguenay‑Lac-St-Jean, Dynamitage Express inc. is specialized in drilling and explosives for road works, water works and mining operations. Our investment allowed one of the shareholders to buy out the other passive shareholder, thus insuring the company’s future.
“Triotech Amusement was founded in Joliette in the late 1990s. Partner of the Fonds régional de solidarité FTQ since 2010 and leader in the manufacturing and sale of a large number of multi sensorial and interactive games and equipment, Triotech is becoming a success story of the gaming world. Its mini gaming rooms of 6 to 40 seats with movement simulators is now distributed in 30 countries on five continents.
About Fonds régionaux de solidarité FTQ
Integral part of the Fonds de solidarité FTQ network since they were launched in the spring of 1996, the 16 Fonds régionaux de solidarité FTQ have been actively participating in the economic development of the regions of Québec. As at March 31, 2008, the regional Funds’ portfolio comprised 327 partner companies, bringing the total number of jobs created or preserved to 12,900. Total investments stood at $225.7 million.
About 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.FondsFTQ.com.
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Information: contact information below is for the exclusive use of reporters and other media representatives.
Senior Advisor, Media Relations and Communication
Fonds de solidarité FTQ
Phone: 514 850-4835
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Fonds régionaux de solidarité FTQ
Phone: 514 383-2548
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